Boeing Reports $4 Billion Q4 Loss Following Strike and Layoffs

The aerospace giant cites labor stoppages, workforce reductions, and defense program charges as key drivers of its financial struggles.

Boeing reported a $4 billion loss for the fourth quarter of 2024, including a $5.46 per share loss, exceeding analysts' expectations of $1.80 per share.
The company faced a nearly two-month machinists' strike that halted production of key aircraft, resulting in a new labor contract with increased pay and benefits for workers.
Boeing incurred $1.1 billion in charges related to its 777X and 767 programs and $1.7 billion in charges tied to defense programs, including the KC-46A tanker and Air Force One replacement jets.
Revenue for the quarter fell to $15.2 billion, below the $16.6 billion analysts had anticipated, while operating cash flow was negative $3.5 billion.
Boeing also reduced its workforce by 10% in late 2024 and raised $20 billion to stabilize its finances, as it continues to recover from production issues and safety crises.