2023-01-25 14:15:19

Why Boeing Stock Is Falling Today

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By Adam Eckert

Boeing Co BA shares are trading lower Wednesday morning after the company reported worse-than-expected financial results.

What Happened: Boeing reported fourth-quarter revenue of $19.98 billion, which missed average analyst estimates of $20.38 billion, according toBenzinga Pro. Commercial Airplanes revenue increased to$9.2billion, driven by higher 737 and 787 deliveries.Defense, Space andSecurityrevenue totaled$6.2 billion.Global Servicesrevenue was$4.6 billion.

The planemaker reported a quarterly net loss of $1.75 per share, which missed estimates for positive earnings of 26 cents per share.

Total company backlog at the end of the quarterwas$404 billion.

"We had a solidfourth quarter, and 2022 proved to be an important year in our recovery.Demand across our portfolio is strong, and we remain focused on driving stability in our operations and within the supply chain to meet our commitments in 2023 and beyond,"saidDave Calhoun, president and CEO of Boeing.

Continue read on benzinga.com

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