Boeing sees Q3 GAAP EPS ($9.97), consensus ($1.65)

Sees Q3 revenue $17.8B, consensus $18.43B. The Boeing Company announced it will recognize impacts to its financial results related to charges for certain programs across the Commercial Airplanes and Defense, Space & Security segments and the IAM work stoppage when it reports third quarter results on October 23. The company expects to report third quarter revenue of $17.8B, GAAP loss per share of ($9.97), and operating cash flow of ($1.3B). Cash and investments in marketable securities totaled $10.5B at the end of the quarter. “While our business is facing near-term challenges, we are making important strategic decisions for our future and have a clear view on the work we must do to restore our company,” said Kelly Ortberg, Boeing president and chief executive officer. “These decisive actions, along with key structural changes to our business, are necessary to remain competitive over the long term. We are also focusing on areas that are critical to our future and will ensure we have the balance sheet necessary to invest, support our people and deliver for our customers.”