Boeing (BA) reported third-quarter results below analysts' estimates Wednesday as the company awaits the 澳洲幸运5官方开奖结果体彩网:result of a machinists union vote on its latest contract proposal, which could end a 🌜five-week strike that halted production and led the company to cut co🌌sts.

The troubled plane manufacturer posted a net loss of $6.17 billion, or $9.97 per share, larger than the consensus loss of $5.49 billion, or $8.89 per share, projected by analysts polled by Visible Alpha.

Boeing generated $17.84 billion in revenue, below the $18.12 billion analysts expected and the $18.10 billion it posted a year ago. Wednesday's results align with the preliminary figures Boeing released earlier this month, when it said it expected revenue of about $17.8 billion and a loss per share of $9.97.

"It will take time to return Boeing to its former legacy, but with the right focus and culture, we can be an iconic company and aerospace leader once again," Boeing 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Kelly Ortberg said. ღ"Going🦩 forward, we will be focused on fundamentally changing the culture, stabilizing the business, and improving program execution, while setting the foundation for the future of Boeing." 

Machinists Union To Vote on Latest Offer Wednes🍃day

Boeing and the union representing its striking workers said over the weekend that they had come to a tentative agreement on a new contract, and the union subsequently said it would hold a vote on ratifying the deal Wednesday.

Shares of Boeing were down about 1% soon after the results were released. They also likely will be impacted by the re♔sult of the union vote later in the day.

ꦬBoeing Recently Announced Moves To Shore Up Finances

Last week, Being announced a number of 澳洲幸运5官方开奖结果体彩网:cost-cutting moves, as 澳洲幸运5官方开奖结果体彩网:Jefferies analysts estimated the strike is costing the company about $1.3 billion per month. Boeing said it 澳洲幸运5官方开奖结果体彩网:planned to sell as much a💞s $25 billion in debt or stock, and made a deal with banks to receive a $10 bill🐻ion credit line, among other moves to shore up its finances.

The strike was the latest negative catalyst for Boeing stock in a year that has seen 澳洲幸运5官方开奖结果体彩网:safety incidents, 澳洲幸运5官方开奖结果体彩网:regulatory and 澳洲幸运5官方开奖结果体彩网:law enforcement investigations, a 澳洲幸运5官方开奖结果体彩网:CEO replacement, and 澳洲幸运5官方开奖结果体彩网:disappointing quarterly results.