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breaking news Boeing loses $663 million in fourth quarter despite rising revenue


The loss amounted to $1.06 per share. Excluding “non-core” items such as pension expense adjustments, the loss was $1.75 per share. Revenue increased 35% from a year earlier to $19.98 billion.

Boeing said on Wednesday it lost $663 million in the fourth quarter as higher production costs and supply chain issues offset higher revenue.

It was another disappointing quarter for the aerospace giant, which has yet to recover from fatal crashes involving two of its 737 Max jets and a pandemic that has lowered airline demand for new planes. until recently.

The loss amounted to $1.06 per share. Excluding “non-core” items such as pension expense adjustments, the loss was $1.75 per share. Revenue increased 35% from a year earlier to $19.98 billion.

Analysts had expected the company to earn 20 cents a share on revenue of $18.75 billion, according to a FactSet survey.

Boeing preferred to focus on cash flow, which rose for the quarter and the full year — the first full year of positive cash flow since 2018.

Boeing, based in Arlington, Virginia, has seen deliveries increase since regulators approved the 737 Max to fly again in late 2021 and after the company convinced regulators it had resolved production issues on another aircraft, the largest 787 Dreamliner. Deliveries are an important source of cash for the company.

Sales have also increased as airlines grow more confident that demand for air travel is recovering from the worst of the pandemic.

Boeing’s defense and space business returned to weak profit in the fourth quarter after losing $2.85 billion in the prior quarter on huge charges related to several programs, including the completion of two new Air Presidential jets. Strength One.


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