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Boeing Stock Slips as Plane Maker Forecasts Wider-Than-Expected Q4 Loss

A Boeing 777 (front) and a 787-9 Dreamliner are under production at the Boeing Everett Production Facility in Everett, Washington, on June 26, 2024.
A Boeing 777 (front) and a 787-9 Dreamliner are under production at the Boeing Everett Prodꦬuct💖ion Facility in Everett, Washington, on June 26, 2024.

JENNIFER BUCHANAN / POOL / AFP via Getty Images

KEY TAKEAWAYS

  • Boeing shares are falling in premarket trading after the plane maker said it anticipates reporting a much wider-than-expected fourth-quarter loss.
  • The plane maker attributed the large loss to the nearly two-month strike that crippled production as well as charges around its defense segment and staff cuts.
  • Boeing said it anticipates reporting a fourth-quarter loss of $5.46 per share—far larger than the $1.40-per-share Visible Alpha consensus— when it issues its results on Tuesday.

Boeing (BA) shares are falling in premarket trading after the plane maker said it anticipates reporting a much wider-than-estimated fourth-quarter loss following a nearly 澳洲幸运5官方开奖结果体彩网:two-month strike that crippled production, as well as charges around its defense segment and 澳洲幸运5官方开奖结果体彩网:staff cuts.

In preliminary results Thursday, Boeing said it anticipates recording a fourth-quarter loss of $5.46 per share—far larger than the $1.40-per-share Visible Alpha consensus—when it issues its results on Tuesday. It also projects revenue of $15.2 billion, less than analysts' estimate of $16.3 billion.

"Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful 澳洲幸运5官方开奖结果体彩网:capital raise to improve our balance sheet," said Boeing 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Kelly Ortberg, who took the reins at the embattled company in August.

Shares of Boeing, which said it had $26.3 billion in "cash and investments in marketable securities" at the end of the fourth quarter, are down roughly 1.5% in premarket trading. They have fallen more than 15% over the past 12 months through Thursday.

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