Boeing reports $11.8-billion annual loss after crisis-ridden year

Record ID: 1955587

  • Title: Boeing reports $11.8-billion annual loss after crisis-ridden year
  • Date: 27th January 2025
  • Summary: HONG KONG, CHINA (FEBRUARY 5, 2025) (REUTERS) PEOPLE ENTERING TAI KOO SHING POST OFFICE PEOPLE SENDING LETTERS AT COUNTER MAN HOLDING PARCEL AND LEAVING COUNTER HONG KONG POST STAFF MEMBER SPEAKING TO RESIDENT JOHN KHAN, UPSOUND OF STAFF MEMBER SAYING: “STARTING FROM TODAY, WE CANNOT ACCEPT ITEMS.” / KHAN SAYING: “BUT THIS OK?” / STAFF MEMBER SAYING: “NOT SURE, CANNOT. HOL
  • Embargoed: 10th February 2025 21:32
  • Keywords: 737 MAX Boeing earnings planemaker results
  • Location: VARIOUS
  • City: VARIOUS
  • Country: US
  • Topics: Company News Markets,Economic Events,North America
  • Reuters ID: LVA003667227012025RP1
  • Aspect Ratio: 16:9
  • Story Text: Boeing reported on Tuesday (January 27) an annual loss of $11.83 billion, its largest since 2020, as it grappled with problems at its commercial and defense units and the fallout from a crippling strike by U.S. West Coast factory workers.
    The loss demonstrates the challenges facing CEO Kelly Ortberg in turning around the U.S. planemaker as it cedes ground to rival Airbus in the delivery race and comes under the crosshairs of regulators and customers following a series of missteps.
    Shares of Boeing rose 0.5% in pre-market trading.
    The company reported a quarterly cash burn of $4.1 billion, a metric closely watched by investors, slightly lower than analysts' expectation of a $4.26-billion cash burn, according to data compiled by LSEG.
    Ortberg, who took the helm of the planemaker in August, said the company was making progress on restoring stability to its struggling production lines after a harrowing mid-air accident a year ago raised concerns about the safety of its jets.
    The company reported a loss of $3.86 billion in the fourth quarter due to what Ortberg called "disappointing" charges in several fixed-price defense programs. Ortberg, however, added in a letter to employees on Tuesday that Boeing was "now more proactive and clear-eyed on the risks" to the programs.
    Revenue for the quarter through December fell 31% to $15.24 billion, missing analysts' expectation of $16.21 billion, according to LSEG data.
    Quarterly adjusted loss per share was $5.90, compared with expectations of a $3 loss per share.
    Cash burn was $14.3 billion in 2024, compared with a cash flow of $4.43 billion in 2023.
    (Production: Aleksandra Michalska)
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2025. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register