Boeing reports preliminary Q3 results with significant financial impacts

Boeing has announced preliminary financial results for the third quarter, indicating significant impacts due to charges in its Commercial Airplanes and Defense, Space & Security segments. The company anticipates reporting a third-quarter revenue of $17.8 billion, a GAAP loss per share of ($9.97), and an operating cash flow of ($1.3) billion. Cash and investments in marketable securities amounted to $10.5 billion by the end of the quarter.

Kelly Ortberg, Boeing's president and CEO, commented on the current challenges: "While our business is facing near-term challenges, we are making important strategic decisions for our future and have a clear view on the work we must do to restore our company." Ortberg emphasized the necessity of these actions for maintaining competitiveness.

The Commercial Airplanes segment expects pre-tax earnings charges totaling $3.0 billion related to delays in the 777X and 767 programs. The first delivery of the 777-9 is now expected in 2026, with the 777-8 freighter following in 2028. These delays are attributed to certification timeline adjustments and an IAM work stoppage. Additionally, production of the 767 freighter will cease, incurring a $0.4 billion pre-tax charge.