The company forecast a quarterly loss of $5.46 per share, sharply steeper than analysts' average expectation of a $1.84 per share loss. Boeing shares fell 2.6% in after-hours trading as the company projected quarterly revenue of $15.
Boeing Took Nearly $3 Billion Hit in Q4
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Boeing forecasts bigger-than-expected loss on defense troubles, strike hit
Boeing took nearly $3 billion hit in Q4 related to strike, layoffs and troubled government programs
Boeing Co. said it incurred nearly $3 billion worth of charges in the fourth quarter of 2024 due to a lengthy labor stoppage, job cuts and problems with a number of government programs.
Boeing Warns Q4 Loss Bigger Than Expected On Costs From Labor Strike
Boeing announced Thursday that it incurred a bigger than expected fourth-quarter loss, concluding a difficult 2024 in which it struggled with a lengthy labor strike and safety problems.
SEATTLE - Boeing's engineering union is formally investigating claims from its members that the company is moving work to non-union locations in the United States and overseas. The Society of Professional Engineering Employees in Aerospace (SPEEA) formally began investigating the allegations in December,
Some 55 years after the first commercial flight of the Boeing 747, four airlines still fly passenger versions, including Lufthansa, Korean Air Lines and Air China.
Boeing announced fourth quarter details showing it lost last year about $11.8 billion, the second heaviest loss in Boeing history.
Boeing said it expects a fourth-quarter GAAP loss of $5.46 a share, well above the $1.55-a-share loss that Wall Street forecast.
President Donald Trump's nominee to head the U.S. Transportation Department said he will keep in place a cap on production of Boeing 737 MAX planes put in place after a mid-air panel blowout last year until he is satisfied it can be safely raised.
Boeing has said it expects a fourth-quarter loss and is taking $2.8bn in charges stemming from a six-week-long strike, higher costs in its defence business and cuts to its workforce. The plane maker said it lost $5.46 per share between October and December on $15.2bn in revenue, while it burnt $3.5bn in cash, according to a preliminary filing.
Boeing faces pressure from activist investors and Warren Buffett's interest, signaling potential major changes in the aerospace giant's future.
Boeing’s defense business faced another tough quarter, with a projected loss of $1.7 billion when it reports its fourth-quarter earnings next week—bringing total losses for the sector to nearly $5 billion for the year.
Boeing's sales are projected to reach $100-$110 billion by 2026, with potential EPS growth to $15 by 2028. Read why I upgrade BA stock from hold to buy.
Investors interested in BA stock should wait for a better entry point, considering its elevated leverage and a downward revision in its earnings estimates.
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