Boeing Stock Slips as Plane Maker Forecasts Wider-Than-Expected Q4 Loss

KEY TAKEAWAYS

Boeing (

BA

) shares are falling in premarket trading after the plane maker projected a much wider-than-estimated fourth-quarter loss following a nearly
two-month strike
that crippled production, as well as charges around its defense segment and
staff cuts
.

In preliminary results Thursday, Boeing said it anticipates recording a fourth-quarter loss of $5.46 per share—far larger than the $1.40-per-share Visible Alpha consensus—when it issues its results on Tuesday. It also projects revenue of $15.2 billion, less than analysts’ estimate of $16.3 billion.

“Although we face 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 Boeing
Chief Executive Officer (CEO)
Kelly Ortberg, who took the reins at the embattled company in
August
.

Shares of Boeing, which said it had $26.3 billion in “cash and investments in marketable securities” at the end of the fourth quarter, are down roughly 1.5% in premarket trading. They have fallen more than 15% over the past 12 months through Thursday.

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