Boeing anticipates fourth-quarter 2024 revenue of $15.2 billion, a GAAP loss per share of ($5.46), and a negative operating cash flow of ($3.5) billion. Results were significantly impacted by the International Association of Machinists and Aerospace Workers (IAM) work stoppage and agreement, as well as charges in the defence segment.
Key Highlights
- Commercial Airplanes:
- Revenue of $4.8 billion and operating margin of (43.9)%.
- $1.1 billion in pre-tax charges, including $0.9 billion for the 777X programme due to higher labour costs.
- 777X first delivery remains on track for 2026.
- Defence, Space & Security:
- Revenue of $5.4 billion and operating margin of (41.9)%.
- $1.7 billion in pre-tax charges across key programmes, including $0.8 billion for KC-46A and $0.5 billion for T-7A, driven by increased manufacturing and production costs.
Despite these challenges, Boeing resumed production of 737, 767, and 777/777X models and strengthened its balance sheet through a successful capital raise. CEO Kelly Ortberg emphasised the company’s focus on stabilisation and building a sustainable future.
