SEATTLE, Wash. – Boeing reported a $3.3 billion loss for the third quarter, as revenue fell short of expectations.
The company took huge losses for fixed-cost defense programs and its commercial-airplane business struggled.
CEO David Calhoun said Boeing remains in a “challenging environment” and has more work ahead to drive stability.
Analysts had expected the company to post revenue just shy of $18 billion, but the adjusted loss came out to $15.9 billion.
Revenue in Boeing’s defense and space business tumbled by 20%.
They also suffered $2.8 billion in losses for higher estimated manufacturing and supply chain costs.