Strike

Giant

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<p class="has-drop-cap">In October 2024, Boeing (NYSE: BA) faced a significant setback as its commercial jet deliveries were slashed by more than half compared to the same month the previous year. The delivery of only <a href="https://www.reuters.com/business/aerospace-defense/boeing-strike-sinks-october-deliveries-14-jets-2024-11-12/" target="_blank" aria-label="14 jets (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">14 jets</a>, a stark contrast to the 34 jets delivered in October 2023, was primarily due to a seven-week strike that severely disrupted production.</p> 
<p>This industrial action, which began on September 12, 2024, and <a href="https://tokenist.com/boeing-strike-ends-with-59-union-approval-on-new-offer-stock-gains/" rel="dofollow" class="deco-link">concluded on November 5, 2024</a>, brought the production of several key models, including the 737 MAX, 767, 777, and 777x, to a halt. The strike’s financial impact was profound, with direct economic losses estimated at $7.6 billion, adding to Boeing’s ongoing financial struggles.</p> 
<h3 id="boeing-strike-involved-over-33-000-unionized-machinists-demanding-a-fair-deal">Boeing Strike Involved Over 33,000 Unionized Machinists Demanding a Fair Deal</h3> 
<p>The strike involved 33,000 unionized machinists from the International Association of Machinists and Aerospace Workers (IAM), who demanded better compensation and benefits. The resolution came with Boeing offering a 38% wage increase over four years, a $12,000 cash bonus for hourly workers, and enhanced retirement contributions.</p> 
<p>However, despite these concessions, the new offer did not reinstate pensions, opting instead for increased 401K contributions. The agreement was approved by 59% of IAM members, ending the strike and allowing Boeing to resume production.</p> 
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<h3 id="boeing-s-third-quarter-loss-a-further-hit-to-the-aerospace-giant">Boeing’s Third Quarter Loss a Further Hit to the Aerospace Giant</h3> 
<p>Boeing’s financial woes were further highlighted by a third-quarter loss of $6.1 billion and a year-over-year revenue decline from $18.1 billion to $17.8 billion. The company’s stock has reflected these challenges, showing a year-to-date decline of 40.75%.</p> 
<p>As Boeing aims to recover, it plans to increase the production of the 737 model to 38 jets per month, a move intended to boost revenues and stabilize its financial position.</p> 
<p>The stock market has not been kind to Boeing amid these challenges. As of November 13, 2024, Boeing’s stock opened at $145.58 but had dropped to $142.605 by 10:15 EST (at the time of writing). The stock’s day low was $141.75, which also marks its 52-week low, while the 52-week high stands at $267.54.</p> 
<p>Despite the recent downturn, analysts have set a target high price of $250.00 and a target low price of $85.00, with a mean target price of $183.54 and a median target price of $192.50, suggesting a mixed outlook for investors.</p> 
<p>In terms of key metrics, Boeing’s market cap is valued at $106.61 billion, with a <a href="https://tokenist.com/investing/what-is-beta-in-stocks/" rel="dofollow" class="deco-link">beta</a> of 1.572 indicating higher volatility compared to the market. The <a href="https://tokenist.com/investing/p-e-ratio/" class="deco-link">forward P/E ratio</a> stands at a steep 303.4149, reflecting investor skepticism about future earnings growth.</p> 
<p>The company also faces challenges with its book value at -$38.123 and a trailing EPS of -$12.93, although the forward EPS is projected to be $0.47. The quick ratio of 0.238 and current ratio of 1.125 suggest liquidity issues, but the recommendation remains a “Buy” with a recommendation mean of 2.4, indicating some confidence in a potential turnaround</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/boeing-ba-delivered-only-14-jets-in-october-amid-7-6b-strike-impact-down-50-y-y/">Boeing (BA) Delivered Only 14 Jets in October Amid $7.6B Strike Impact, Down 50% y/y</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Boeing (BA) Delivered Only 14 Jets in October Amid $7.6B Strike Impact, Down 50% y/y

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