06:43 AM EST, 01/24/2025 (MT Newswires) -- Boeing ( BA ) shares fell early Friday as the plane maker reported a preliminary fourth-quarter loss larger than Wall Street's estimates due in part to the strike by the International Association of Machinists and Aerospace Workers union last year, among other factors.

The company expects to report a per-share loss of $5.46 for the December quarter, it said late Thursday. The current consensus on FactSet is for a loss of $1.81 per share on a GAAP basis.

The impact of workers' strike, pretax charges for certain programs across the commercial airplanes and defense, space and security segments and costs related to job cuts disclosed last year will weigh on the group's results, according to Boeing ( BA ). The stock declined 1.8% in the most recent premarket activity.

Revenue is pegged at $15.2 billion for the quarter versus the Street's view for $16.47 billion. The plane manufacturer also anticipates operating cash flow of negative $3.5 billion, while cash and investments in marketable securities amounted to $26.3 billion at the end of the quarter.

"Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet," Chief Executive Kelly Ortberg said in a statement. "We also restarted 737, 767 and 777/777X production and our team remains focused on the hard work ahead to build a new future for Boeing ( BA )."

In November, members of the IAM voted to ratify the union's deal with Boeing ( BA ) to end the strike that had been plaguing the company since September. In October, Ortberg said the plane maker plans to reduce its total workforce by about 10% over the coming months, including executives, managers and employees.

Within the commercial airplanes segment, the company expects to record a pre-tax earnings charge of $1.1 billion on the 777X and 767 programs in the fourth quarter and forecasts the impact of the union strike, including lower deliveries. The division is projected to report revenue of $4.8 billion. Defense, space and security is anticipated to log pre-tax earnings charges of $1.7 billion and post revenue of $5.4 billion.

Boeing ( BA ) is scheduled to release its full fourth-quarter results on Jan. 28. In the previous three-month period, the company reported a core loss of $10.44 per share and revenue of $17.84 billion.