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What will be the outcome of Kelly Ortberg's turnaround plan by the end of Q2 2025?
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Resolution / Starting Odds
Significant improvement in financials • 25%
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Boeing's financial reports and public statements
Story
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.
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