Boeing Co. announced on Thursday that the company is expecting to achieve $15.2 billion in total revenue for the fourth quarter with a diluted loss per share of $5.46. Cash flow is set to land at minus $3.5 billion while cash and investments in marketable securities should close at $26.3 billion.
Boeing said it expects significant impacts in its fourth-quarter results due to work stoppages and higher costs with the Commercial Airplanes division expecting $1.1 billion in charges and the Defense, Space and Security foresees $1.7 billion in charges.
"Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet," Boeing President and CEO Kelly Ortberg said. Boeing lost 1.69% in the after-trading session following the report.
