: Boeing stock slides in premarket after it reports a surprise Q4 loss
Boeing Co. BA stock is down 1.4% in premarket trades on Wednesday after the aerospace giant reported a loss instead of an expected profit and missed its revenue target. Boeing said its fourth-quarter loss narrowed to $634 million, or $1.06 a share, from a loss of $4.16 billion, or $7.02 a share, in the year-ago quarter. The company’s adjusted loss in the latest quarter was $1.75 a share. Wall Street analysts expected Boeing to earn 20 cents a share, according to estimates compiled by FactSet. Fourth-quarter revenue increased to $19.98 billion from $14.79 billion in the year-ago quarter. Analysts were looking for revenue of $20.32 billion. Boeing’s backlog increased to $404 billion from $377.5 billion in the year-ago period. Boeing reiterated its guidance for $4.5 billion to $6.5 billion of operating cash flow and $3 billion to $5 billion free cash flow for full-year 2023. Prior to Wednesday’s moves, Boeing stock is up 11.3% in 2023, compared to a 1.8% rise by the Dow Jones Industrial Average DJIA.
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