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Boeing Swings To Loss In Third Quarter As Pandemic Pounds Away

By Cal Biesecker

Wednesday, October 28th, 2020

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Boeing Swings To Loss In Third Quarter As Pandemic Pounds Away

The KC-46A Pegasus aerial refueling aircraft. Boeing took a $67 million charge for the program in the third quarter. (Photo: Boeing)

Boeing [BA] on Wednesday reported a third quarter loss primarily due to declines in its commercial aircraft and services businesses stemming from the ongoing pandemic, but the bleeding also seeped into its defense business where operating profits also dropped. The net loss in the quarter was $466 million, 79 cents per share (EPS), versus net income of $1.2 billion ($2.05 EPS) a year ago. Excluding pension adjustments, the core earnings loss was $1.39 EPS, still 55 cents better than analysts’…

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