The aeroplane maker said the fallout from the 737 will cut almost $5.6bn (£4.5bn) from their revenue and pre-tax earnings.
Meanwhile, the owner of Upper Crust and Caffe Ritazza has revealed that sales have been hit by the continued grounding of Boeing's Max 737 planes, with passengers being moved away from terminals.
Boeing said for this earnings period it calculated that the 737 MAX would return to service in the fourth quarter of 2019.
Disruptions from the prolonged grounding of Boeing's 737 MAX passenger jets after two deadly crashes has hurt airlines around the world.
It's not clear when the 737 Max, which is Boeing's top-selling plane, will be cleared by United States and foreign regulators to fly again. That estimated expense has grown by another $1.7 billion, primarily due to a "longer than expected reduction in the production rate", the company said.
Southwest Airlines on Thursday again pushed back its target date for returning the Boeing 737 MAX to service, citing uncertainty about when regulators will permit the jet to fly.
Numerous $4.9bn price will doubtless be frail to compensate Boeing's possibilities for schedule disruptions and delays in plane deliveries.
The charge, which is equivalent to $8.74 a share, will wipe out Boeing's profits for the second quarter.
Boeing cut its production from 52 to 42 a month in March following the second crash in Ethiopia while suspending deliveries of the aircraft to airlines.
"This is a defining moment for Boeing".
The airline offered apologies to customers impacted by the change.
Boeing chief financial officer Greg Smith added, "We are taking appropriate steps to manage our liquidity and increase our balance sheet flexibility the best way possible as we are working through these challenges".
Boeing's calculations also assume that production of its 737 jetliners would gradually build to 57 per month next year, earlier than some analysts have estimated.
The massive hit to Boeing's earnings will result in the company's first quarterly loss in 10 years.
"The Max grounding provides fundamental headwinds and the monetary impact recognised this quarter reflects the hot challenges and helps to take care of future monetary dangers".
Shares of Boeing Co. rose $7.54, or 2.1%, to $368.65 during after-hours trading.
However, Boeing's calculations are based on an assumption that the 737 Max will return to the skies in the autumn.