Boeing Co. announced on Tuesday that its annual revenue for 2024 was $66.5 billion, down 14% from the prior year, and its fourth-quarter revenue was $15.2 billion, reflecting a 31% year-over-year drop.
The company posted a net loss of $11.8 billion for the full year, its largest since 2020, and $3.9 billion for the quarter, driven by labor disputes, defense program charges, and operational inefficiencies. Moreover, Boeing recorded a loss per share (EPS) of $5.46 in the three months to December 31, compared to $0.04 in the same period of 2023. For the full year, the EPS loss widened to $18.36 from $3.67 in 2023.
"My team and I are focused on making the fundamental changes needed to fully recover our company's performance and restore trust with our customers, employees, suppliers, investors, regulators and all others who are counting on us," CEO Kelly Ortberg commented.
Boeing shares remained muted in premarket trading after the report's publication.
