US Aerospace Giant Boeing Reports Losses Fourth Year in a Row

Jan. 26, 2023

By dpa

Source dpa (TNS)

Washington — US aerospace and defence company Boeing has faced losses for the fourth year in a row in 2022 due to expensive problems with several aircraft types.

At $5.05 billion, the net loss was even higher than the almost $4.3 billion a year earlier, the company reported on Wednesday.

Boeing faced fourth-quarter losses of $634 million or $1.06 per share, a sharp narrowing compared to the same period the previous year, which saw losses of $4.14 billion or $7.02 per share.

Excluding special items, core loss for the quarter was $1.75 per share, compared to core loss of $7.69 per share in the prior-year quarter.

Total revenues for the quarter improved 35% to $19.98 billion from $14.79 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $20.38 billion for the quarter.