Boeing narrows loss but falls short of expectations for a profit as the aerospace giant ramps up production of 737 and faces 'abnormal costs'
Boeing Co. stock fell Wednesday after the aerospace giant reported an unexpected loss due partly to high expenses as it shapes plans to increase production of its 737 and 787 planes.
Boeing’s BA massive commercial airplane segment weighed on the company’s quarterly results, with an operating margin of negative 6.8% that reflected “abnormal costs and period expenses, including research and development.”Boeing said its fourth-quarter loss narrowed to $634 million, or $1.06 a share, from a loss of $4.16 billion, or $7.02 a share, in the year-ago quarter. The company’s adjusted loss in the latest quarter was $1.75 a share.
Boeing said its 737 program is stabilizing production at 31 per month. It plans to increase production to 50 per month by 2025/2026 and also planning to boost output of 787 planes to five per month in late 2023 and ten per month within the next three years. Boeing remains focused on driving stability in its operations and investing in its business while “innovating and prioritizing safety, quality and transparency,” Calhoun said.
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