• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Boeing to raise as much as $25 billion to shore up balance sheet

by October 16, 2024
written by October 16, 2024

Boeing said Tuesday that it could raise as much as $25 billion in shares or debt over three years, a move to increase liquidity as the troubled manufacturer faces a more than monthlong machinist strike and problems throughout its aircraft programs.

“This universal shelf registration provides flexibility for the company to seek a variety of capital options as needed to support the company’s balance sheet over a three year period,” Boeing said in a statement.

Boeing shares are down nearly 42% this year as of Tuesday.

Bank of America aerospace analysts have estimated that Boeing will raise between $10 billion and $15 billion in equity.

“We expect Boeing to offer equity first, which should shore up the company’s balance sheet in the near term while maintaining the option to later issue equity debt with a lower risk of a credit downgrade,” BoFA analyst Ron Epstein wrote Tuesday.

Fitch Ratings said Boeing’s announcement Tuesday will “increase financial flexibility and moderate near-term liquidity concerns.”

Boeing is trying to shore up its balance sheet as it faces warnings from credit ratings agencies that it could lose its investment-grade rating.

S&P Global Ratings, one of the agencies that warned about a downgrade, last week estimated that the machinist strike is costing Boeing more than $1 billion a month. The two sides have been at an impasse.

Earlier, Boeing separately said in a filing that it has an agreement with a consortium of banks for a $10 billion credit agreement.

“The credit facility provides additional short term access to liquidity as we navigate through a challenging environment,” the company said in a statement. “The company has not drawn on this facility or its existing credit revolver.”

On Friday, Boeing’s new CEO, Kelly Ortberg, warned that the company plans to lay off about 17,000 employees, or 10% of its global workforce to cut costs.

“We need to be clear-eyed about the work we face and realistic about the time it will take to achieve key milestones on the path to recovery,” he said, adding that Boeing needs to focus resources on “areas that are core to who we are.”

The announcement came alongside preliminary financial results, showing mounting losses and $5 billion in charges in Boeing’s defense and commercial airplane units.

On Oct. 23, Ortberg will hold his first quarterly investor call since becoming Boeing’s CEO in August.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
More than 230 doctors and health care professionals call on Trump to release medical records
next post
VP Harris to sit down hours from now with Bret Baier for first Fox News interview

related articles

Customers sue sneaker company On over shoes that...

October 20, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 17, 2025

LendingTree founder and CEO Doug Lebda dies in...

October 15, 2025

UPS is ‘disposing of’ U.S.-bound packages over customs...

October 13, 2025

China outlines more controls on exports of rare...

October 10, 2025

Paramount acquires Bari Weiss’ The Free Press, naming...

October 7, 2025

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Oil and natural gas: Oil struggles to retain new support

    August 23, 2024
  • State Department says Ukraine ready to accept 30-day ceasefire deal: ‘Ball is now in Russia’s court’

    March 17, 2025
  • Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

    January 29, 2025
  • East and Gulf coast ports shut down as thousands of workers go on strike

    October 2, 2024
  • House Republicans clear path for Trump to act on tariff plans

    January 24, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,506)
  • Investing (634)
  • Stock (941)

Latest Posts

  • Somber Walz spotted on daughter’s Instagram after election loss: ‘Live to fight another day’

    November 8, 2024
  • Analysts see ‘enhanced buying opportunity’ as Apple rebounds but struggles to stabilize

    April 9, 2025
  • Who is Daniel ‘Razin’ Caine? Air Force general tapped for top advisor role in Pentagon upheaval

    February 25, 2025

Recent Posts

  • Federal judge blocks Trump’s transgender military executive order

    March 19, 2025
  • ‘Dangerous’ order by liberal judge to rehire federal workers should go to SCOTUS, Trump says

    March 17, 2025
  • Bernie Sanders compares Trump, Musk and other ‘oligarchs’ to ‘heroin addicts,’ says drug of choice is ‘greed’

    April 15, 2025

Editor’s Pick

  • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

    June 7, 2025
  • I spent 36 years in prison for a crime I didn’t do. Trump’s early pardons are the right idea

    April 3, 2025
  • Stefanik plans to push Trump’s ‘America First’ agenda at UN, make sure it ‘serves the interests’ of US people

    January 21, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock