US EditionBoeing 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.
74 Articles
74 Articles
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…
American aircraft manufacturer Boeing recorded a loss of $4 billion in the fourth quarter of 2024, which is about 30 percent less revenue than a year earlier.
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…
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.
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