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Boeing Co (NYSE:BA) reported a $410 million pre-tax charge in its fourth-quarter results on Wednesday to cover the cost of a possible extra uncrewed launch of its Starliner capsule should NASA require it.
Boeing said in its earnings report that in its Defense, Space & Security division, fourth-quarter operating margin decreased to 0.5 percent because of the charge "primarily to provision for an additional uncrewed mission for the Commercial Crew program, performance and mix."
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Boeing's Starliner is being tested for possible use by NASA as a ferry to the International Space Station. SpaceX is also part of the so-called Commercial Crew program.
Boeing said NASA continues to evaluate data from Boeing's Starliner launch in December, in which an error prevented the Starliner from hitting its orbit and docking with the ISS. It's not clear yet whether another uncrewed launch will be necessary before a crew can fly the craft.
Boeing (NYSE:BA) Price Action
Boeing shares were up 1.33% to $320.87 at time of publication Wedneday.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.