$Boeing (BA.US)$ The company reported its largest quarterly loss since 2020. In the third quarter, Boeing Company's net loss was $6.17 billion, with both revenue and free cash flow falling short of expectations.

On Wednesday, the 23rd, Boeing Company in the USA released its Q3 financial report. The data shows:

• Q3 revenue was $17.84 billion, compared to an estimated $17.89 billion.

• Adjusted free cash flow in Q3 was -$1.96 billion, compared to an estimated -$1.87 billion.

• Q3 net loss was $6.17 billion.

• Net loss per share was $9.97.

After the data was released, Boeing's pre-market trading in the US stock market fell by 0.55%.

In recent years, Boeing has been struggling due to two fatal crashes, one criminal conviction, one mid-air explosion, production delays, and the recent strike.

On Wednesday, in a memorandum to employees, Ortberg emphasized the need to improve Boeing's defense business as well as the performance of the 737 MAX and 777 projects, while comprehensively stabilizing Boeing's situation. He stated:

"We need to understand what has happened, not only to our products, but also to our employees. Most importantly, we need to prevent the situation from deteriorating, and collaborate better to identify, rectify, and understand the root causes."

He said that the company must repair its fractured culture, downsize itself, and improve the performance of new aircraft types, all of which have been delayed for several years.

Ortberg stated that the company needs to reach an agreement with the striking mechanics' union and restart the factories that have been idle since September 13.

The union representing 33,000 workers will vote on the company's latest proposal on Wednesday, hoping to increase wages by 35% over four years, approve a $7,000 bonus, and enhance retirement benefits.

Editor/rice