Boeing posted a fourth-quarter loss of $3.8bn (€3.65bn) on Tuesday as a machinists’ strike and other problems continue to plague the troubled aircraft maker.
The financial figures reflect, among other things, the impact of the suspension of Boeing facilities due to the strike, as well as the terms of the agreement reached with the union. They also take into account costs associated with a number of defence programmes and previously announced job cuts, Boeing said in a press release.
The company reported a net loss of $3.86 billion, or $5.46 per share, for the October-December period, compared to a loss of $30 million, or $0.04 per share, for the same period a year earlier. The loss, excluding one-time factors, was $5.9 per share, significantly above the experts’ consensus forecast of $3.22 per share.
Boeing’s quarterly revenue was $15.24 billion, up from $22.02 billion a year earlier.
Revenue in the civil aircraft segment in October-December fell 55% to $4.76bn. The company delivered 57 aircraft to customers (157 a year earlier) and received orders for 204 airliners. The revenue of the defence and space division decreased by 20% to $5.41bn.
Boeing’s operating cash flow was negative $3.5bn in the fourth quarter. For the full year 2024, the company recorded a net loss of $11.83bn, reducing revenue by 14% to $66.52bn. Boeing delivered 348 commercial aircraft last year. The company’s order book was valued at $521bn at the end of December.
Boeing shares added 0.5 per cent in pre-market trading on Tuesday. Over the past 12 months, their value has fallen 12.6 per cent. The company’s performance was largely in line with preliminary results released last week.
