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Boeing Co. said it incurred nearly $3 billion worth of charges
in the fourth quarter of 2024 due to a lengthy labor stoppage,
job cuts and problems with a number of government programs.
As a result, the Chicago-based aerospace giant said Thursday
that it will report a loss of $5.46 per share next week when it
issues its full financial results. Wall Street had been
expecting a fourth-quarter loss of $1.80 per share.
The sizeable loss caps a rough year for Boeing. A strike by the
machinists who assemble the best-selling 737 Max, along with the
777 jet and the 767 cargo plane at factories in Renton and
Everett, Washington, halted production at those facilities and
hampered Boeing’s delivery capability.
The walkout ended after more than seven weeks when the company
agreed to pay raises and improved benefits.
The aerospace giant also announced previously it would reduce
its workforce by 10%.
The company said Thursday that it took charges totaling $1.1
billion related to the 777 and 767 programs in the fourth
quarter. Boeing took an additional $1.7 billion in charges
related to a number of government programs including a military
refueling tanker and Air Force One replacement jets.
Boeing said revenue for the fourth quarter totaled $15.2
billion, well below analysts’ estimate of $16.6 billion. Shares
fell
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