Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand
Publishing timestamp: 2023-01-25 10:01:22
Summary
Boeing posted a $663 million loss in the fourth quarter due to supply chain issues, despite a rebound in aircraft sales and deliveries that drove up revenue. The company is producing 31 of its 737 jets per month and plans to increase that to 50 per month in 2025 or 2026. For the full year, Boeing had a loss of $5 billion despite a 7% increase in revenue to $66.6 billion. The company generated $3.1 billion in cash flow in the fourth quarter, higher than analyst forecasts, and $2.3 billion for the year. CEO Dave Calhoun said the company is confident in its path ahead and is increasing investments to prepare for its next generation of products.
Sentiment: MIXED
Tickers: BA,
Keywords: aerospace and defense industry, business news, breaking news: earnings, politics, life, business, boeing co, breaking news: business, transportation, markets, earnings, trade, travel, airlines,
Source: https://www.cnbc.com/2023/01/25/boeing-ba-earnings-q4-2022.html