CHICAGO (dpa-AFX) - Boeing Company (BA) Thursday said it would report a loss for the fourth quarter, hurt largely by the IAM work stoppage and agreement, charges for certain Defense, Space & Security programs and costs associated with workforce reductions.
The company expects to report fourth-quarter revenue of $15.2 billion, loss per share of $5.46, and operating cash flow of $3.5 billion.
Cash and investments in marketable securities totaled $26.3 billion at the end of the quarter.
'Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet,' said Kelly Ortberg, Boeing president and chief executive officer. 'We also restarted 737, 767 and 777/777X production and our team remains focused on the hard work ahead to build a new future for Boeing.'
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