Boeing Q3 Earnings: Revenue And Profit Decline, Cultural Challenges, CEO Ortberg Vows Transformation

Boeing Co (NYSE:BA) reported a 1% year-over-year revenue decline to $17.854 billion in the third quarter of 2024, missing the consensus of $17.931 billion.

Adjusted loss per share expanded to $10.44 from $3.62 in the same quarter of 2023, missing the consensus of $10.34.

The company stated that the results reflect the impact of the International Association of Machinists and Aerospace Workers (IAM) work stoppage and previously announced charges on commercial and defense programs.

Boeing recorded an adjusted operating loss of $5.989 billion for the quarter, compared to $1.09 billion a year ago. The core operating loss margin was (33.6%) Vs. (6%) a year ago.

Commercial Airplanes revenue fell 5% YoY to $7.443 billion, impacted by $3 billion in charges and higher expenses.

Deliveries declined by 10%; 116 airplanes were ...