Boeing details losses from labor strike, new contract

by thinkia.org.in
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An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington.

Lindsey Wasson | Reuters

Boeing on Thursday released preliminary fourth-quarter financial results that were impacted by a nearly two-month labor strike last year and other issues at the manufacturer.

The company said it expects to post a loss of $5.46 per share for the fourth quarter. It said it expects its revenue to be $15.2 billion, less than analysts’ expectations, according to LSEG estimates. Boeing said it likely burned through $3.5 billion in cash in the quarter.

Boeing will still release full results on Tuesday as scheduled.

This is breaking news. Check back for updates.

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