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Boeing reports $3.3 billion loss as KC-46, other defense programs drag

By Stephen Losey

 Oct 26, 03:26 PM

In this July 13, 2021, photo, the logo for Boeing appears on a screen above a trading post on the floor of the New York Stock Exchange. (Richard Drew/AP, File)

WASHINGTON — Boeing on Wednesday reported a nearly $3.3 billion loss in the third quarter of 2022, driven by a nearly $1.2 billion charge on the KC-46A Pegasus and problems with some other key defense programs.

Boeing said higher manufacturing and supply chain costs as well as “technical challenges” with the KC-46, VC-25B Air Force One, MQ-25 Stingray and T-7A Red Hawk programs, plus NASA’s Commercial Crew program, were the main causes of the defense, space and security sector’s $2.8 billion in quarterly losses. Other defense sector programs also had “unfavorable performance” that further hurt the quarterly results, the contractor said.