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What strategic direction will Boeing take under CEO Kelly Ortberg by end of 2024?
3
Resolution / Starting Odds
Focus on commercial aviation • 25%
Focus on defense and space • 25%
Balanced approach • 25%
Other • 25%
Official announcements or strategic plans released by Boeing
Story
Boeing Posts $6.2 Billion Loss Amid Six-Week Strike; Workers Vote on 35% Pay Hike Deal
Oct 23, 2024, 01:31 PM
Boeing reported a third-quarter loss of $6.2 billion, or $10.44 per share, attributing the decline to ongoing strikes by unionized workers and issues within its defense and space programs. The aerospace manufacturer announced that approximately 33,000 unionized workers will vote on a new contract proposal that includes a 35% wage increase over four years and a $7,000 signing bonus, potentially ending a nearly six-week-long strike that has crippled production. Newly appointed CEO Kelly Ortberg emphasized the need for a fundamental culture change within the company, stating, "It will take time to return Boeing to its former legacy, but with the right focus and culture, we can be an iconic company and aerospace leader once again." Boeing's revenue dipped 1% year-over-year to $17.84 billion, missing analysts' expectations of $17.93 billion. The company reported a negative operating cash flow of $1.35 billion and negative free cash flow of $1.96 billion. Boeing's backlog stands at $511 billion, including over 5,400 commercial airplanes.
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Major restructuring announced • 25%
Significant layoffs or cost-cutting measures • 25%
New strategic partnerships or acquisitions • 25%
Other • 25%
Increase in profitability • 25%
Decrease in profitability • 25%
No significant change • 25%
Company sold or merged • 25%
Increase by more than 20% • 25%
Increase by 10-20% • 25%
Increase by less than 10% • 25%
Decrease • 25%
David Calhoun remains CEO • 25%
David Calhoun steps down • 25%
New CEO appointed • 25%
Other leadership changes • 25%
Yes • 50%
No • 50%
Major acquisition • 25%
Significant restructuring • 25%
New product launch • 25%
No major strategic move • 25%
Significant improvement in financial performance • 25%
Moderate improvement in financial performance • 25%
No improvement in financial performance • 25%
Decline in financial performance • 25%
Successful stabilization • 25%
Partial success • 25%
No significant change • 25%
Further instability • 25%
New aircraft model development • 25%
Major acquisition or merger • 25%
Significant divestment • 25%
Other strategic initiative • 25%
Yes, a major restructuring plan is announced • 25%
No major restructuring plan announced • 25%
Minor restructuring plans announced • 25%
No announcements related to restructuring • 25%