Boeing incurred a loss of $482 million in the third quarter of 2023 due to higher manufacturing costs and issues with labor and suppliers in building new Air Force One jets. The company has faced various problems with the program, resulting in delays and a total loss of over $2.4 billion. Boeing's defense business has experienced cost increases that contributed to the losses. Additionally, the company suffered a $315 million loss in its satellite program. Despite these challenges, Boeing is focused on improving its defense business performance and controlling costs.
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00:00 Benzinga and here's what's on the block. Boeing incurred a loss of $482 million in the third
00:05 quarter of 2023 due to higher manufacturing costs and issues with labor and suppliers in building
00:11 new Air Force One jets. The company has faced various problems with the program resulting
00:16 in delays and a total loss of over $2.4 billion. Boeing's defense business has experienced cost
00:22 increases that contributed to the losses. Additionally, the company suffered a $315
00:27 million loss in its satellite program. Despite these challenges, Boeing is focused on improving
00:33 its defense business performance and controlling costs. For all things money visit Benzinga.com