Boeing Reports $6.2 Billion Q3 Loss, $10.44 Loss Per Share, $17.8 Billion Revenue

Oct 23, 2024, 11:41 AM

Boeing has reported a significant financial loss for Q3 2024, totaling $6.2 billion. The company's revenue for the quarter was $17.8 billion, falling short of the estimated $18.23 billion. Boeing's core loss per share was $10.44, compared to the expected loss of $10.33. The company's operating cash flow was negative $1.35 billion, and its free cash flow was negative $1.96 billion. The new CEO, Kelly Ortberg, has outlined a turnaround plan amid ongoing financial challenges and a strike. Ortberg emphasized the need to overhaul Boeing's culture and reset priorities to restore the company's legacy and regain customer and investor confidence. Boeing's total company backlog stands at $511 billion, including over 5,400 commercial airplanes. The company's market cap is $98.51 billion, and its stock is down 0.6% in pre-market trading.