Boeing Co ( BA ) shares are losing altitude in Thursday’s after-hours session after the company reported preliminary fourth-quarter financial results.

What Happened: After the market close on Thursday, Boeing ( BA ) announced that it will recognize impacts to its quarterly results related to the IAM work stoppage and agreement, charges for certain Defense, Space & Security programs and costs associated with workforce reductions from last year.

As a result, the airplane manufacturer now expects to report fourth-quarter revenue of $15.2 billion versus estimates of $16.27 billion, according to Benzinga Pro. Boeing ( BA ) also anticipates a fourth-quarter loss of $5.46 per share.

Operating cash flow is expected to be negative $3.5 billion in the fourth quarter. Boeing ( BA ) said it had $26.3 billion in cash and investments in marketable securities at the quarter’s end.

“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,” said Kelly Ortberg, president and CEO of Boeing ( BA ).

“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 Price Action: Boeing ( BA ) shares were down 1.43% in after-hours, trading at $175.95 at the time of publication Thursday, according to Benzinga Pro.

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