(Reuters) – Boeing’s loss will exceed expectations when it reveals its fourth-quarter results next week, the U.S. aircraft maker said on Thursday, struggling financially due to accusations against its defense unit, the decline airliner deliveries and losses resulting from a crippling strike.
The company forecast a quarterly loss of $5.46 per share, significantly higher than analysts’ average expectations of a loss of $1.84 per share.
Shares of Boeing (NYSE:) fell 2.5% after hours as the company forecast quarterly revenue of $15.2 billion, below expectations of $16.27 billion .
Boeing piled up losses in 2024, hammered by a strike of more than 33,000 workers that halted production of its 737 MAX, 777 and 767 planes and by a struggling defense and space division. The planemaker was already grappling with a quality crisis following the in-flight panel explosion in January of a nearly new 737 MAX operated by Alaska Airlines.
Analysts on average expected a loss per share of $1.84 and revenue of $16.27 billion, according to LSEG data.
“Although we face near-term challenges, we took important steps to stabilize our business during the quarter, including reaching an agreement with our teammates represented by IAM and successfully leading a capital raise for improve our balance sheet,” CEO Kelly Ortberg, who took the reins in August, said in a statement. “We have also restarted production of the 737, 767 and 777/777X and our team remains focused on the hard work ahead of us to build a new future for Boeing.”
Boeing reached a deal with its workers at the Northwest factory in early November.