Boeing said Thursday that it will recognize a loss per share of $5.46, which is equivalent to a loss of about $4 billion in the fourth quarter.
This is triple the loss expected by analysts, which already pointed to a sharp drop in the planemaker’s shares.
Boeing expects to have revenue of $4.8 billion in the fourth quarter, but with a negative operating margin of 43.9%.
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The company first blamed the long strike by engineers that hit the Renton and Everett plants, where the 737, 767 and 777 commercial jets are produced.
About 33,000 employees went on strike between September 13 and November 5, compromising the already affected production rate of the aircraft.
The 777X and 767 programs alone resulted in US$ 1.1 billion in losses.
The Defense, Space and Security division, however, was also pointed out as one of the main reasons for the very poor result, with a predicted loss of US$ 1.7 billion.
Projects such as the KC-46 tanker, the new Air Force One, the MQ-25 drone, the T-7A trainer jet and the Starliner space capsule are accumulating problems, delays and increasing costs.
First 777-9 still on track to deliver in 2026
“Although we faced near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet,” said Kelly Ortberg, Boeing president and chief executive officer.
We also restarted 737, 767 and 777/777X production and our team remains focused on the hard work ahead to build a new future for Boeing.”
Following the announcement, Boeing is estimated to have a loss of around US$ 12 billion in 2024, on par with 2020, which was affected by the pandemic and the grounding of the 737 MAX.
In 2024, Boeing delivered only 348 jets, 34% less than in 2023.
Despite the negative result, Boeing said it still expects to deliver the first 777-9 widebodies in 2026.
