Boeing reported a net loss of $3.308 billion in the third quarter of 2022, equivalent to losses of $5.49 per share.
The result extends the net loss posted a year ago, of $132 million (or $0.19 per share), and also contradicted earnings per share expectation of $0.13, according to analysts surveyed by FactSet. Considering values attributed to investors, the net loss was US$ 3.275 billion.
The company’s revenue grew in the last quarter compared to the July-September 2021 period, from $15.278 billion to $15.956 billion. However, it also came in below the US$ 17.911 billion estimated by analysts.
On the morning of this Wednesday (26), the company’s shares fluctuated, in the pre-market, in New York, between losses and gains after the release of the balance sheet.
Despite the poor results, investors saw the aircraft maker show good cash flow in the third quarter of $2.906 billion. In this way, Boeing maintained its positive free cash flow forecast in 2022.
“We generated strong cash in the third quarter and are on a solid path to achieving positive free cash flow for 2022. At the same time, revenue and earnings were significantly impacted by losses on our fixed-price programs for development in the retail sector. defense,” explained Boeing CEO and President Dave Calhoun.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
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