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Boeing issues profit warning – new loss on the way

American Boeing is reporting an unexpectedly large loss in a preliminary quarterly report. The consequences of the autumn's strike continue to weigh on the crisis-ridden aircraft manufacturer.

» Published: 23 January 2025

Boeing issues profit warning – new loss on the way
Photo: Lewis Joly/AP/TT

The loss landed at 5.46 dollars per share for the fourth quarter, which is clearly more than the analysts' forecast of 1.55 dollars per share.

The revenue was 15.2 billion dollars in the preliminary report, compared to expected 16.8 billion dollars.

Boeing, which on an annual basis has not made a profit since 2018, explains the quarterly loss with, among other things, unexpected costs of 1.1 billion dollars related to a production stoppage due to the seven-week-long strike last autumn.

The company also refers to a one-time cost of 1.7 billion dollars for escalating costs for five defense projects, including the next model of the presidential plane Air Force One.

"Despite facing several challenges in the near future, we took important steps to stabilize our business during the quarter", says CEO Kelly Ortberg in a comment.

The final quarterly report will be presented on January 28.

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By TTThis article has been altered and translated by Sweden Herald

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