10:43 AM EST, 01/28/2025 (MT Newswires) -- Boeing ( BA ) reported a larger-than-expected loss for the fourth quarter due to factors including a worker strike, while a drop in commercial deliveries drove a cash burn at the plane manufacturer.

The company on Tuesday posted a core loss of $5.90 per share for the December quarter, widening from a loss of $0.47 the year before. The consensus on FactSet was for a non-GAAP loss of $3.25 a share. Revenue plunged 31% to $15.24 billion, trailing the Street's view for $15.72 billion.

Operating cash flow turned negative, at $3.45 billion, due to lower commercial deliveries and unfavorable working capital timing.

Last week, Boeing ( BA ) disclosed an expected hit to its fourth-quarter results stemming from last year's strike by the International Association of Machinists and Aerospace Workers union and a subsequent labor deal. It also flagged impact from pre-tax charges for certain programs and planned workforce reductions.

"We made progress on key areas to stabilize our operations during the quarter and continued to strengthen important aspects of our safety and quality plan," Chief Executive Kelly Ortberg said in a Tuesday statement. "My team and I are focused on making the fundamental changes needed to fully recover our company's performance."

Revenue in the commercial airplane segment tumbled 55% to $4.76 billion in the quarter, while the division swung to an operational loss. The segment's results included a pretax charge of $1.1 billion on the 777x and 767 programs, according to the company.

Boeing ( BA ) delivered 57 commercial planes in the period, down from last year's tally of 157. The company resumed production of its 737 program with plans to gradually increase the output rate. Boeing ( BA ) said it's still looking to deliver its first 777-9 plane in 2026 as the 777x program resumed Federal Aviation Administration certification flight testing this month.

Revenue in the defense, space and security division declined to $5.41 billion from $6.75 billion in the prior-year quarter. The segment's operational loss soared to $2.27 billion from $101 million due to pretax charges of $1.7 billion on certain programs. Global services revenue added 6% to $5.12 billion.

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