Boeing Co (NYSE:BA) reported a 31% year-over-year revenue decline to $15.242 billion in the fourth quarter of 2024, missing the consensus of $16.174 billion.

Adjusted loss per share grew to $5.90 from $0.47 in the identical quarter of 2023, missing the consensus of a $2.44 loss.

Boeing stated that the outcomes reflect the impact of the IAM work stoppage, charges on certain defense programs, and costs related to last 12 months’s workforce reductions.

Related: Boeing Stock Falls On Preliminary Q4 Results: The Details

Boeing recorded an adjusted operating lack of $4.042 billion for the quarter, in comparison with an adjusted operating earnings of $90 million a 12 months ago. The core operating loss margin was 26.5% Vs. 4% profit a 12 months ago.

Operating money outflow for the quarter totaled $3.45 billion, in comparison with money inflow of $3.381 billion YoY, while the free money outflow was $4.098 billion.

Industrial Airplanes revenue fell 55% YoY to $4.862 billion, reflecting the IAM work stoppage, reduced deliveries, and $1.1 billion in pre-tax charges on the 777X and 767 programs.

Deliveries declined by 64%. 57 airplanes were delivered, and the backlog included over 5,500 airplanes valued at $435 billion.

Defense, Space & Security revenue slid 20% 12 months over 12 months to $5.411 billion. The backlog was $64 billion, of which 29% represents orders from customers outside the U.S.

Global Services revenue grew by 6% YoY to $5.119 billion. The operating margin expanded 210 bps to 19.5%, reflecting higher business volume and blend.

Boeing’s money and investments in marketable securities rose to $26.3 billion from $10.5 billion, driven by a $24 billion capital raise, offset by free money flow usage and debt repayment.

The corporate’s debt fell to $53.9 billion from $57.7 billion on account of early repayment of a $3.5 billion bond. It holds $10 billion in undrawn credit facilities.

Boeing delivered 348 business airplanes and secured 279 net orders in 2024. The whole company backlog, including greater than 5,500 business airplanes, increased to $521 billion.

Price Motion: On the last check on Wednesday, BA shares were trading lower by 0.01% at $175.15 premarket.

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This text Boeing Q4 Earnings: Labor Strikes And Defense Charges Impact Performance, Loses $4.1 Billion In Free Money Flow originally appeared on Benzinga.com

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