Boeing is preparing to release its earnings report for the first time under the leadership of CEO Kelly Ortberg. This comes at a critical time for the company, as it deals with labor disputes and financial challenges.
Preliminary results for the third quarter show a slight decline in revenue compared to the previous year. However, Boeing has a cash and marketable securities balance of $10.5 billion, which provides some stability. Analysts are cautiously optimistic about the potential for a new labor agreement.
The earnings report is influenced by a strike involving over 32,000 machinists who rejected a contract proposal. The outcome of their vote on a new labor deal is expected to be announced soon, adding uncertainty to Boeing's financial outlook. The strike is estimated to cost Boeing $1 billion per month.
Boeing's financial challenges are further exacerbated by the ongoing labor disputes. The strike has created significant disruptions to the company's operations and has resulted in a decline in revenue. However, the company's cash and marketable securities balance provides some stability and a potential buffer against the financial impact of the strike.
Despite the challenges, analysts remain cautiously optimistic about the potential for a new labor agreement. The outcome of the vote on the new labor deal will have a significant impact on Boeing's financial outlook and the company's ability to navigate through these challenging times.
In summary, Boeing is preparing to release its earnings report amidst labor disputes and financial challenges. The outcome of the vote on a new labor deal will add uncertainty to the company's financial outlook. However, Boeing's cash and marketable securities balance provides some stability, and analysts are cautiously optimistic about the potential for a new labor agreement.