Boeing saw a net loss of more than $6.17 billion in the third quarter, according to a financial results statement released Wednesday.
The figure followed a net loss of almost $1.64 billion in the July – September period last year.
The US-based global aerospace manufacturer’s net loss from operations soared to more than $5.76 billion, from $808 million, during that period.
For the first nine months of this year, net loss totaled almost $8 billion, while net loss from operations amounted to approximately $7 billion.
Revenues came in at $17.84 billion in the third quarter — a 1.4% decrease from $18.1 billion in the same quarter of 2023.
Revenues for the January – September period stood at $51.3 billion, showing an 8% decline from $55.8 billion in the same period of 2023.
The company’s shares finished Wednesday with a daily loss of 1.76%.
Boeing announced July 1 that it would acquire American commercial airplane manufacturer Spirit AeroSystems in an all-stock transaction at an equity value of approximately $4.7 billion, while the total transaction value is approximately $8.3 billion, including Spirit’s last reported net debt.
Boeing said in July its board elected a new CEO, Robert K. “Kelly” Ortberg, who has started serving on the board of directors.
Source: AA