Boeing Expects $5.46 Loss Per Share, $15.2 Billion Revenue Amid Strike
Boeing Expects $5.46 Loss Per Share, $15.2 Billion Revenue Amid Strike

Boeing Expects $5.46 Loss Per Share, $15.2 Billion Revenue Amid Strike

News summary

Boeing has announced that it expects a significant fourth-quarter loss of $5.46 per share, substantially higher than analysts' expectations of $1.84. The company reported revenue of $15.2 billion, which also fell short of forecasts and represents a decline from $22 billion the previous year. These losses are largely attributed to a nearly two-month strike that idled production, as well as ongoing issues in its defense and space divisions. Boeing anticipates a cash burn of $3.5 billion for the quarter and expects to take a $1.1 billion charge related to its 777X and 767 programs. The full earnings report is scheduled for release on Tuesday, with stock prices reflecting the disappointing news by dropping over 2% in after-hours trading. The company has faced mounting challenges, including a quality crisis stemming from a mid-air incident earlier this year.

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