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Boeing Narrows Losses, Holds off on Guidance

Boeing (NYSE:BA) narrowed its losses at the end of last year, but its CEO said now is “not the time” for financial targets as the manufacturer grapples with the fallout from a fuselage panel that blew out midflight on one of its new 737 Max 9s earlier this month.

The aircraft giant reported adjusted loss per share of 47 cents vs. the expected 78 cents, on revenue of $22.02 billion vs. $21.1 billion expected

Boeing posted a net loss of $30 million, or four cents a share in the fourth quarter, down from a $663-million loss, or $1.06 a share a year earlier. Adjusting for one-time items, Boeing reported a net loss of 47 cents per share.

Its free cash flow of $2.95 billion in the quarter topped analysts’ expectations. Revenue grew 10% year over year to $22.02 billion.

Boeing CEO Dave Calhoun, who took the helm of the aircraft giant four years ago in the wake of two deadly crashes of the Max, is again under pressure to clean up the company’s reputation with airline customers, regulators and the public after the accident, after the Jan. 5 accident in which a panel blew out on Alaska Airlines Flight 1282 as the plane climbed out of Portland, Oregon, leaving a gaping hole in the side of the plane.

BA shares took flight $6.53, or 3.3%, to $206.97.

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