Boeing has announced its preliminary Q4 results, which showed a significant miss compared to expectations. The company’s revenue for the quarter reached $15.2 billion, falling short of the $16.3 billion consensus forecast. Boeing also reported a much larger-than-expected GAAP loss per share of $5.46, compared to the anticipated loss of $2.22.
The company’s operating cash flow was negative at $3.5 billion, primarily due to impacts from the IAM workers’ strike and ongoing charges from defense programs. Among the major charges was $1.1 billion related to the 777X and 767 aircraft programs, along with $1.7 billion in costs within the Defense, Space & Security segment, including a $0.8 billion charge for the KC-46A tanker program.
Boeing’s Commercial Airplanes segment reported $4.8 billion in revenue but suffered a significant operating margin loss of 43.9%. In contrast, the Defense, Space & Security division saw revenues of $5.4 billion, but its margin was also negative at 41.9%.
Despite these setbacks, Boeing’s CEO, Kelly Ortberg, stressed that the company is focusing on stabilizing its operations. Efforts include a planned capital raise and the resumption of production for the 737, 767, and 777/777X aircraft programs. Ortberg also confirmed that the first delivery of the 777-9 is still on track for 2026.
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