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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Total News Sources0
Leaning Left9Leaning Right7Center17Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 27%
C 52%
R 21%
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