Boeing Reports Narrowed Third-Quarter Loss Driven by Defense Sales Growth
Boeing reported a narrowed net loss of $116 million for the third quarter, a significant improvement from the $5.34 billion loss recorded during the same period last year. While revenue rose 4% year-over-year to $24.19 billion, beating analyst expectations, the company's adjusted loss per share of 34 cents was wider than the anticipated 21 cents. The performance was bolstered by a 15% increase in defense business revenue, which reached $7.94 billion. However, market attention remains focused on the commercial sector, specifically the production stabilization of the 737 MAX line. CEO Kelly Ortberg noted that while aircraft output is expected to increase next year, stabilizing current production levels is taking longer than initially projected.
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Topics: aircraft production defense sales earnings report net loss revenue beat
Part of the story Boeing Reports Narrowed Third-Quarter Loss Driven by Defense Sales Growth (2 articles)