Reported about 15 hours ago
Boeing reported a staggering $3.5 billion cash flow loss in the fourth quarter due to labor strikes and workforce reductions, alongside challenges in its defense business. With expected revenues of $15.2 billion, significantly lower than analyst predictions, the company anticipates pre-tax charges of $1.7 billion. Following an IAM strike that ended in November, Boeing faced increased labor costs while recently laying off hundreds of workers. Despite these challenges, Boeing plans to stabilize its operations and enhance its financial standing through a $19 billion share sale.
Source: YAHOO