Boeing Forecasts Wider-Than-Expected Loss Q4
Boeing anticipates reporting a substantial loss in its upcoming fourth-quarter results due to defense unit expenses and a labor strike's impact.
The loss per share is projected at $5.46, exceeding analysts' estimates of $1.84. Boeing shares declined 2.5% after-hours, as the company's revenue forecast of $15.2 billion fell short of expectations ($16.27 billion).
Boeing faces financial challenges after a 30,000-plus worker strike halted 737 MAX, 777, and 767 production. The defense and space division's struggles have further impacted the company.
The aircraft manufacturer was previously dealing with a mid-air panel blowout in January.