2024-01-31 07:36:06 ET
Boeing Co (NYSE: BA) narrowed its loss in the fourth financial quarter. Shares of the aerospace giant are still slightly down in premarket on Wednesday.
The aerospace giant is currently under investigation by the Federal Aviation Administration after the Alaska Airlines scare on January 5 th as Invezz reported here.
FAA has also blocked its plans of increasing production to 50 planes per month in 2025.
Therefore, Boeing Co did not offer guidance for the future on Wednesday. According to its CEO Dave Calhoun:
“We’ll simply focus on every next airplane, follow the lead of our regulator and ensure highest standard of safety and quality in all that we do. That is what will drive performance.”
Lost billion versus the year-ago billion
Per-share loss also increased from to
Adjusted loss printed at 47 cents as per the press release
Revenue went up % year-over-year to $22.02 billion
Consensus was 78 cents loss on $21.1 billion revenue
Boeing reported $3.0 billion in free cash flow (adjusted) for its recently concluded quarter. CEO Calhoun also said on Wednesday:
Boeing stock has lost more than 20% since the start of this year.
This is a developing story. Check back in a few minutes for more updates!
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