Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand

Boeing generated constructive free money circulate final yr for the primary time since 2018 because of a rebound in plane gross sales and deliveries however labor and provide shortages weighed on its earnings.

Airlines and plane producers have benefitted from a pointy restoration in air journey, one of the vital affected industries in the course of the pandemic.

Boeing generated about $3 billion in money circulate within the fourth quarter, increased than analyst forecasts, and $2.3 billion for the yr, probably the most since 2018, earlier than the second of two deadly 737 Max crashes that sparked a yearslong disaster for the corporate.

Here’s how Boeing carried out within the fourth quarter in contrast with analysts’ estimates complied by Refinitiv:

• Adjusted loss per share: $1.75 vs. anticipated earnings per share of 26 cents.
• Revenue: $19.98 billion vs. $20.38 billion anticipated.

Supply chain and labor shortages damage its backside line for the fourth quarter.

Boeing’s leaders have been hesitant to ramp up manufacturing.

“We’re proud of how we closed out 2022, and despite the hurdles in front of us, we’re confident in our path ahead,” CEO Dave Calhoun mentioned in a memo to workers. “We have a robust pipeline of development programs, we’re innovating for the future and we’re increasing investments to prepare for our next generation of products.”

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