An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX parked in storage at King County International Airport-Boeing Field in Seattle, Washington.
Lindsey Wasson | Reuters
Boeing It said Thursday it would likely lose about $4 billion in the fourth quarter, adding to the woes at the manufacturer, which started 2024 with a loss. Air accident It ended with a labor strike and layoffs.
The company said it expects to report a loss of $5.46 per share in the fourth quarter. It said it expects revenue of $15.2 billion, below analysts' expectations, according to LSEG estimates. Boeing said it will likely burn through $3.5 billion in cash during the quarter. The company raised more than $20 billion this quarter to boost liquidity during the crises it faced.
Boeing has not reported an annual profit since 2018.
The company expects to take a $1.1 billion charge on its 777X and 767 programs due to the strike and the new contract.
“Although we face near-term challenges, we took important steps to stabilize our business during the quarter, including reaching an agreement with our fellow representatives at IAM and conducting a successful capital raise to improve… Our balance sheet. press release.
Boeing struggled to regain its footing after a while The door plug exploded in midair In January 2024, sparking a A new security crisis In a company that was trying to overcome the repercussions of two fatal accidents in 2018 and 2019.
The near-catastrophic accident brought new federal scrutiny and a slowdown in new aircraft deliveries. Nearly two months Mechanics strike Which began in September, has halted most of its commercial aircraft production. The workers, mostly in the Puget Sound region, won the New contract In November.
Revenue for the critical commercial aircraft unit is likely to reach $4.8 billion, with a negative operating margin of about 44%.
Boeing's woes also extend to its defense unit, which expects to book a pre-tax charge of $1.7 billion on the KC-46A tanker, the long-awaited 747 that will serve as the new Air Force One, as well as its own aircraft. Space programs.
