boeing company The company said Thursday it could lose about $4 billion in the fourth quarter, spelling more trouble for the manufacturer as it starts 2024. air accident And it ended with severe strikes and layoffs.

The company said it expected a fourth-quarter loss of $5.46 per share. The company said it expected revenue of $15.2 billion, below analysts’ expectations, according to LSEG estimates. Boeing said it likely burned $3.5 billion in cash during the quarter. The company raised more than $20 billion during the quarter to increase liquidity during the crisis.

Boeing has not reported an annual profit since 2018.

The company expects to charge $1.1 billion for its 777X and 767 programs as a result of the strikes and new contracts.

“Despite the near-term challenges we face, we took important steps during the quarter to stabilize our business, including reaching an agreement with team members represented by IAM,” Boeing CEO Kelly Ortberg said in a statement. and successfully raised capital to improve our balance sheet.”

Boeing has been struggling to regain its footing after a period of The door jam exploded in mid-air In January 2024, it triggered new security crisis The company is trying to shake off the fallout from two fatal crashes in 2018 and 2019.

The near-catastrophic accident triggered new federal scrutiny and slowed deliveries of new planes. nearly two months machinists strike Starting in September, the company stopped production of most commercial aircraft. These workers, mostly from the Puget Sound area, have won new contract November.

The all-important commercial aircraft unit revenue could reach $4.8 billion, with a negative operating margin of nearly 44%.

Boeing’s problems also extend to its defense unit, where it expects pretax costs of up to $1.7 billion for the KC-46A tanker, the long-delayed 747 aircraft that will serve as the new Air Force One, and its aircraft. space program.