1/26, 1:33 PM (Source: TeleTrader)
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Boeing misses estimates with revenue of to $14.8B in Q4

The Boeing Company said on Wednesday that its revenue in the fourth quarter of 2021 amounted to $14.8 billion, marking a 3% decline from the same period in 2020 and missing estimates. Net loss stood at $4.2 billion, or $7.02 per share, improving from a loss of $8.4 billion in the final quarter of 2020 but still coming in below expectations.

The aerospace company stressed that its 787 program took a $3.5 billion pre-tax charge amid production issues. Boeing noted it "continues to perform rework on 787 airplanes in inventory and is engaged in detailed discussions with the FAA regarding required actions to resume deliveries."

"2021 was a rebuilding year for us as we overcame hurdles and reached key milestones across our commercial, defense and services portfolios. We increased 737 MAX production and deliveries, and safely returned the 737 MAX to service in nearly all global markets," CEO David Calhoun stated. For full 2021, Boeing's revenue climbed 7% to $62.3 billion.

Boeing shares were down 0.27% in premarket trading following the earnings release.

Baha Breaking the News (BBN) / NP