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Boeing (Ba) They reported the preliminary results of the fourth quarter On Thursday after the bell, estimating a loss of operational cash flow of $ 3.5 billion due to the effects of the IMA (International Mechanists Association) work, along with the reductions in the workforce and the changes in your defense business.
For the quarter, Boeing hopes to report $ 15.2 billion in front of $ 16.760 million consensus estimates for Bloomberg with a GAAP action loss of $ 5.46 against an estimated loss of $ 1.32 . Boeing also hopes to take charges before $ 1.7 billion in your defense and space business.
Boeing shares dropped by 1% in trade outside the hours.
“Although we face short -term challenges, we took significant steps to stabilize our business during the quarter, including reaching an agreement with our teammates represented in IAM and successful capital extension to improve Our balance, “said Kelly Ortberg, President and President of Boeing. CEO. “We have also restarted the production of 737, 767 and 777/777x and our team remains focused on hard work to build a new future for Boeing.”
Boeing said that the IAM strike, which was completed in November with a new four -year contract, will lead to higher employment costs, which will be charged before $ 1.1 billion for programs for programs. of Jets 777x and 767.
After the eight -week strike, Boeing increased the salary of IAM members by 38% for four years; fused $ 7,000 ratification bonus with a global payment of $ 5,000 for a total of $ 12,000 in 401 (K) plans or as cash payment; his 401 (K) party increased; and the reduction of health premiums, among other things.
At the beginning of December Boeing fired hundreds of workers At its base in the state of Washington and California. The company had previously said that it would reduce its workforce by 10%.
Earlier this month Boeing reported that he delivered 57 aircraft in the fourth quarter: 36 737 Max, 15 787 Dreamliners and three 767 and three 777. During the year, Boeing said he delivered 348 commercial aircraft, a third less than a year ago.
In November, the decrease in Boeing’s cash position threatened the company’s investment credit rating, which caused it. advertiser would launch a sale of dollars of $ 19 billion to increase cash reserves. Boeing said that at the end of the fourth quarter cash and negotiable values investments stood at $ 26.3 billion.
Pras Subramanian is a Yahoo Finance journalist. You can follow it X and forward Instagram.
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