Boeing Co.
Boeing Reports Third Quarter 2024 Financial Results with Significant Loss Due to IAM Work Stoppage
Summary
The Boeing Company reported third-quarter 2024 financial results, showing a GAAP loss per share of $9.97 and a core (non-GAAP) loss per share of $10.44. The company's total revenue for the quarter was $17.8 billion, down 1% from the previous year. Boeing's operating cash flow was negative $1.3 billion, and free cash flow was negative $2.0 billion. The financial results were significantly impacted by the International Association of Machinists and Aerospace Workers (IAM) work stoppage and previously announced charges on commercial and defense programs. Despite these challenges, Boeing's backlog remained strong at $511 billion, including over 5,400 commercial airplanes.
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About Boeing Co.
Boeing Co. is a global leader in aerospace and defense, renowned for its significant contributions to the aviation industry. The company designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. Beyond commercial aircraft, Boeing provides products and services to the defense and space sectors, including military aircraft and advanced technology systems. This dual focus allows Boeing to operate at the intersection of commercial aviation and defense industries. As the manufacturer of some of the world’s most widely used aircraft, such as the 737, 777, and the Dreamliner series, Boeing plays a crucial role in international air travel and cargo transit. Its innovations impact various industries, including manufacturing, national defense, and space exploration. Headquartered in Chicago, Illinois, Boeing remains a pivotal player in advancing technological frontiers and supporting global infrastructure through its aerospace and defense capabilities.
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