Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.
Shares of Boeing Co. BA, +0.73% surged 3.1% in premarket trading Wednesday, after the aerospace and defense giant reported a wider-than-expected loss but topped revenue expectations and affirmed the full-year outlook for free cash flow. Net losses narrowed to $1.64 billion, or $2.70 a share, from $3.31 billion, or $5.49 a share, in the year-ago period. Excluding nonrecurring items, core per-share losses of $3.26 were wider than the FactSet loss consensus of $3.18. Revenue grew 13.5% to $18.
01 billion, as revenue from Boeing’s commercial airplanes and global services businesses topped expectations while defense, space and security revenue missed. Free cash flow of negative $310 million compared with the FactSet consensus of negative $266.7 million. For 2023, the company affirmed its guidance for free cash flow of $3.0 billion to $5.
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