Boeing reported a surprising $3.3 billion loss for the third quarter Wednesday, as revenue fell short of expectations and it took huge losses for fixed-cost government programs including new Air Force One presidential jets.
The company blamed higher manufacturing and supply-chain costs for driving the losses in government programs.
CEO David Calhoun said Boeing remains in a “challenging environment” and has “more work ahead to drive stability.”
Revenue in Boeing’s normally consistent defense and space business tumbled by 20 percent, and it took $2.8 billion in charges on a military refueling tanker, Air Force One, a NASA program to build a spacecraft that can ferry astronauts to the International Space Station, and other programs….