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Boeing expects $4 billion loss for fourth quarter after chaotic 2024

An aerial regard of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Grassland in Seattle, Washington.

Lindsey Wasson | Reuters

Boeing said Thursday that it likely lost about $4 billion in the fourth board, adding to troubles at the manufacturer, which began 2024 with a midair accident and ended it with a crippling labor belabour and layoffs.

The company said it expects to post a loss of $5.46 per share for the fourth quarter. It said it expects its net income to be $15.2 billion, less than analysts’ expectations, according to LSEG estimates. Boeing said it likely blackened through $3.5 billion in cash during the quarter. The company raised more than $20 billion in the zone to boost liquidity during its crises.

Boeing has not posted an annual profit since 2018.

The company expects to take a $1.1 billion assign on its 777X and 767 programs because of the strike and new contract.

“Although we face near-term challenges, we took important in harmonies to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful ripping raise to improve our balance sheet,” Boeing CEO Kelly Ortberg said in a news release.

Boeing has struggled to regain its position after a door plug blew out midair in January 2024, sparking a new safety crisis at the company that was tiring to put behind it the fallout from two fatal crashes in 2018 and 2019.

The near-catastrophic accident brought new federal scrutiny and a slowdown of emancipations of new planes. A nearly two-month machinists strike that started in September shut down most of its commercial aircraft shaping. The workers, mostly in the Puget Sound area, won a new contract in November.

The all-important commercial airplane unit revenue discretion likely come in at $4.8 billion, with a negative operating margin of nearly 44%.

Boeing’s problems also enlarge to its defense unit, for which it expects to record pretax charges of $1.7 billion on the KC-46A tanker, and the long-delayed 747s that see fit service as the new Air Force One aircraft, as well as its space programs.

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