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Boeing reports preliminary Q3 loss on certification delays, production disruptions

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October 11, 2024
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Boeing reports preliminary Q3 loss on certification delays, production disruptions
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Investiong.com — Boeing reported Friday a third-quarter preliminary loss as the aircraft maker is set to take a financial hit from write downs in its commercial airplanes and defense, space & security businesses amid certification delays and production disruptions.   

Boeing Co (NYSE:BA) fell more than 1% in afterhours trading Friday following the report.

The company said it expected to report a Q3 loss of $9.97 on revenue of $17.8 billion. 

The company’s commercial airplanes unit expects to recognize pre-tax earnings charges of $3.0B on the 777X and 767 programs. First delivery of the 777-9 in 2026 and the 777-8 freighter is now expected in 2028, resulting in a pre-tax earnings charge of $2.6B.

The defense, space & security business is expected to suffer pre-tax earnings charges of $2.0 billion on the T-7A, KC-46A, Commercial Crew, and MQ-25 programs, the company said. 

This post appeared first on investing.com
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