The Boeing Co. stock undefined fell 1.5% in premarket trade Wednesday, after the company's third-quarter loss widened and revenue missed consensus estimates...
The Boeing Co. stock BA, +3.24% fell 1.5% in premarket trade Wednesday, after the company's third-quarter loss widened and revenue missed consensus estimates by almost $2 billion. The aerospace giant had a net loss of $3.308 billion, or $5.49 a share, for the quarter, wider than the loss of $132 million, or 19 cents a share, posted in the year-earlier period. The company's core loss per share, which excludes the FAS/CAS service cost adjustment, came to $6.
The FAS/CAS service cost adjustment represents the difference between the Financial Accounting Standards pension and postretirement service costs calculated under GAAP and costs allocated to the business segments, the company said in its earnings release. Revenue rose to $15.956 billion from $15.278 billion a year ago, while the FactSet consensus was for revenue of $17.911 billion. The company ended the quarter with a backlog of $381 billion, including more than 4,300 commercial airplanes.