Boeing (BA) reported third-quarter results below analysts' estimates Wednesday as the company awaits the 澳洲幸运5开奖号码历史查询:result of a machinists union vote on its latest contract proposal, which could en𝓡d a five-week strike that halted production and led♈ the company to cut costs.

The troubled plane manufacturer posted a net loss of $6.17 billion, or $9.97 per share, larger than the consensus loss of $5.49 billion, or $8.89 per share, projected by analysts polled by Visible Alpha.

Boeing generated $17.84 billion in revenue, below the $18.12 billion analysts expected and the $18.10 billion it posted a year ago. Wednesday's results align with the preliminary figures Boeing released earlier this month, when it said it expected revenue of about $17.8 billion and a loss per share of $9.97.

"It will take time to return Boeing to its former legacy, but with the right focus and culture, we can be an iconic company and aerospace leader once again," Boeing 澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Kelly Ortberg said. "Going forward, we will be focuse🦩d on fundamentally changing the culture, stabilizing the business, and improving program ex🥂ecution, while setting the foundation for the future of Boeing." 

Machinists Union To Vote on Lates🃏t Offer Wednesday

Boeing and the union representing its striking workers said over the weekend that they had come to a tentative agreement on a new contract, and the union subsequently said it would hold a vote on ratifying the deal Wednesday.

Shares of Boeing were down about 1% soon after the results were released. They a✃lso likely will be impacted by the result of the union vote later in the day.

Boeing Recently Announced Moves To Shor♑e Up Finances

Last week, Being announced a number of 澳洲幸运5开奖号码历史查询:cost-cutting moves, as 澳洲幸运5开奖号码历史查询:Jefferies analysts estimated the strike is costing the company about $1.3 billion per month. Boeing said it 澳洲幸运5开奖号码历史查询:planned to s♏ell as much as $25 billion in debt or stock, and made a deal with banks to ⛄receive a $10 billion credit line, among other moves to shore up its finances.

The strike was the latest negative catalyst for Boeing stock in a year that has seen 澳洲幸运5开奖号码历史查询:safety incidents, 澳洲幸运5开奖号码历史查询:regulatory and 澳洲幸运5开奖号码历史查询:law enforcement investigations, a 澳洲幸运5开奖号码历史查询:CEO replacement, and 澳洲幸运5开奖号码历史查询:disappointing quarterly results.