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Business/Financial

Boeing Discloses Further Defense Charges In Fourth Quarter; Overall Losses Fall

By Cal Biesecker

Wednesday, January 31st, 2024

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Boeing Discloses Further Defense Charges In Fourth Quarter; Overall Losses Fall

Brian West, Boeing's chief financial officer. Photo: Boeing

Boeing [BA] on Wednesday said its defense segment swung to an operating loss in the fourth quarter of 2023 due to additional charges on fixed-price development programs despite strong sales growth in the defense business. The $101 million loss at Boeing Defense, Space & Security contrasted with a $112 million operating profit in the segment a year ago and was driven by $139 million in losses on three fixed-price development programs, unfavorable performance, and a sales mix that favored lower…

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