Published 1 month ago • loading... • Updated 29 days ago

Boeing took nearly $3 billion hit in Q4 related to strike, layoffs and troubled government programs

Boeing expects a fourth-quarter loss of about $4 billion, nearly triple Wall Street's expectations, due to a production crisis and a strike by US West Coast factory workers.
The company forecasts a quarterly revenue of $15.2 billion, below the anticipated $16.27 billion, causing shares to drop 3.5%.
Boeing's Commercial Airplanes division delivered 348 jets last year, down from 528 the previous year, with new orders dropping to less than half of the previous year.
CEO Kelly Ortberg stated that Boeing faced 'near-term challenges' but took steps to stabilize the business, including ending the seven-week strike and raising over $20 billion in capital.

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Boston Herald

Boeing’s terrible 2024: Losses total nearly $12B

How bad was 2024 for Boeing financially? The company announced fourth quarter details showing it lost last year about $11.8 billion, the second heaviest loss in Boeing history. The data released after the stock market closed Thursday also shows a fourth quarter cash outflow of $3.5 billion, which means Boeing burned through $13.7 billion in cash in 2024. Boeing attributed the financial meltdown, which included $2.8 billion in fourth quarter writ…

29 days ago·Boston, United States

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Straight Arrow News

More financial woes for Boeing, $4 billion loss to end 2024

Boeing saw another difficult year financially in 2024, announcing it lost $4 billion in the fourth quarter. Boeing experienced a machinist strike that began in September and resulted in the stoppage of most of Boeing's commercial aircraft production. About 30,000 workers went on strike, seeking better wages. The labor action cost the company about $50 million per day, according to Bank of America. The strike ended in November 2024. Boeing was al…

1 month ago

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Investor's Business Daily

Boeing Early Q4 Results Hammered By Strike Impacts, Delays

Boeing released early Q4 results well below estimates as the Dow Jones manufacturer's workers strike, delivery delays weigh. The post Boeing Early Q4 Results Hammered By Strike Impacts, Delays appeared first on Investor's Business Daily.

1 month ago

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The Register

Boeing warns of more financial charges due to Starliner

Calamity Capsule continues to be calamitous for the bottom line

1 month ago

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Tagesschau

Boeing makes sixth annual loss in a row

The crisis at the US aircraft manufacturer Boeing is intensifying. Quality deficiencies, problems with the suppliers and the consequences of a strike break a billion-hole into the balance sheet. The competitor Airbus has escaped.

1 month ago·Hamburg, Germany

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Washington Times

Boeing expected to report $4 billion in Q4 losses as difficult year closes

Boeing's defense division is expected to incur $1.7 billion in losses when the company publishes its fourth-quarter earnings report next month, bringing the division's yearly losses to nearly $5 billion.

1 month ago·United States

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