Official announcement from Boeing or union representatives

Boeing Reports $6.2 Billion Q3 2024 Loss, $10.44 Loss Per Share Amid Union Vote

Oct 23, 2024, 12:10 PM

Boeing has reported a significant third-quarter loss of $6.2 billion for Q3 2024, with a core loss per share of $10.44 and revenue of $17.84 billion, missing Wall Street estimates. The company's commercial airplanes revenue was $7.44 billion, and its defense, space, and security revenue was $5.54 billion. Boeing also reported a negative adjusted free cash flow of $1.96 billion and a negative operating cash flow of $1.35 billion. The company is facing a critical vote by striking union workers, which could further impact its operations. Boeing's new CEO, Kelly Ortberg, emphasized the need for a fundamental culture change and expressed hope for a positive outcome from the union vote. Ortberg also mentioned the company's strong liquidity plan and the need to shore up its balance sheet. Boeing's backlog stands at $511 billion, including over 5,400 commercial airplanes, and its revenue is down 1% year-over-year.