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AP National Business

Boeing posts $3.3B loss on costs tied to defense programs

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Published 6:03 AM

By DAVID KOENIG
AP Airlines Writer

Boeing is reporting a $3.3 billion loss for the third quarter because of higher costs related to several government programs including building new Air Force One presidential planes. The company said Wednesday that the adjusted loss amounted to $6.18 per share on revenue of $15.96 billion. The revenue fell far short of Wall Street expectations. Revenue in Boeing’s normally consistent defense and space business tumbled by 20%, and it suffered huge losses for higher estimated manufacturing and supply chain costs on a military refueling tanker, Air Force One and other programs.

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