Boeing Company (NYSE:BA) shares are trading lower on Thursday as the company disclosed a contract from the U.S. Air Force and Air India airlines.
U.S. Air Force Contract
The company announced it will build four additional MH-139A Grey Wolf helicopters and provide sustainment support for the U.S. Air Force. This marks its second production contract for the aircraft in five months.
This contract, including a $173 million award for eight helicopters in September, brings the total award value to more than $262 million. The latest order brings the total number of MH-139A helicopters under contract to 38.
So far, the Air Force has received 21 Grey Wolf aircraft, including 12 delivered under the low-rate initial production contract awarded in 2023.
Air India Order
Also, Boeing won a contract for 30 more fuel-efficient 737 MAX jets from Indian airline operator, Air India.
The deal expanded Air India’s order book to nearly 200 Boeing airplanes across the single-aisle and widebody airplane families.
In particular, Air India placed an additional purchase of 20 Boeing 737-8 jets this month, along with a previously undisclosed order for 10 Boeing 737-10 aircraft.
Latest Earnings Release
This week, Boeing reported fourth-quarter revenue of $23.948 billion, exceeding the consensus $22.470 billion, and adjusted loss of $1.91 per share, missing Wall Street expectations for a loss of 39 cents per share.
The company delivered 160 airplanes in the quarter, reflecting improved operational performance.
Following the results, several analysts raised the price forecast for the company.
BA Price Action: Boeing shares were down 2.09% at $236.52 at the time of publication on Thursday, according to Benzinga Pro data.
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