Boeing Co. launched a $19 billion share sale to address liquidity challenges, aiming to prevent a credit rating downgrade to junk status. The move follows a 40% slump in Boeing's stock this year and comes as new CEO Kelly Ortberg navigates a balance sheet strained by a prolonged workers' strike affecting 737 Max production. Boeing forecasts a fourth-quarter cash burn of $4 billion, bringing its total outflow to $14 billion for the year, and expects continued outflows into mid-2025 as it ramps up operations post-strike.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Boeing launched a $19 billion share sale to address liquidity challenges,
00:06aiming to prevent a credit rating downgrade to junk status.
00:10The move follows a 40% slump in Boeing's stock this year and comes as new CEO Kelly Ortberg
00:15navigates a balance sheet strained by a prolonged worker strike affecting 737 MAX production.
00:21Boeing forecasts a fourth-quarter cash burn of $4 billion, bringing its total outflow to $14
00:27billion for the year, and expects continued outflows into mid-2025 as it ramps up operations
00:33post-strike. For all things money, visit Benzinga.com slash GSTV.