On October 11, 2024, Boeing announced preliminary financial results for the third quarter of 2024, revealing significant impacts due to a work stoppage by the International Association of Machinists and Aerospace Workers (IAM) and charges in its commercial airplanes and defense segments. The aerospace giant expects to report a third-quarter revenue of $17.8 billion, a GAAP loss per share of ($9.97), and an operating cash flow of ($1.3) billion. Boeing President and CEO Kelly Ortberg acknowledged the near-term challenges but emphasized strategic decisions and structural changes to ensure long-term competitiveness. The company disclosed pre-tax earnings charges of $3.0 billion on the 777X and 767 programs, with the first delivery of the 777-9 now anticipated in 2026 and the 777-8 freighter in 2028. Additionally, Boeing will end production of the...Show More

On October 11, 2024, Boeing announced preliminary financial results for the third quarter of 2024, revealing significant impacts due to a work stoppage by the International Association of Machinists and Aerospace Workers (IAM) and charges in its commercial airplanes and defense segments. The aerospace giant expects to report a third-quarter revenue of $17.8 billion, a GAAP loss per share of ($9.97), and an operating cash flow of ($1.3) billion. Boeing President and CEO Kelly Ortberg acknowledged the near-term challenges but emphasized strategic decisions and structural changes to ensure long-term competitiveness. The company disclosed pre-tax earnings charges of $3.0 billion on the 777X and 767 programs, with the first delivery of the 777-9 now anticipated in 2026 and the 777-8 freighter in 2028. Additionally, Boeing will end production of the 767 freighter, incurring a $0.4 billion pre-tax charge, and will focus on the 767-2C aircraft for the KC-46A Tanker program from 2027. The Defense, Space & Security segment is set to recognize pre-tax earnings charges of $2.0 billion on the T-7A, KC-46A, Commercial Crew, and MQ-25 programs due to higher estimated costs and the IAM work stoppage. The segment expects third-quarter revenue of $5.5 billion and an operating margin of (43.1) percent. Boeing's financial results are preliminary and unaudited, subject to completion and potential changes upon final review.