Boeing announced Thursday that it incurred a bigger than expected fourth-quarter loss, concluding a difficult 2024 in which it struggled with a lengthy labor strike and safety problems.

The US aviation giant projected a loss of $5.46 per share, much above the $1.55 foreseen by analysts, according to a profit warning that cited the costs of a new labor agreement, among other factors.

The company experienced $1.1 billion in unexpected costs in its commercial plane business because of fewer plane deliveries due to the strike and the effect of "higher estimated labor costs" under a new agreement with Seattle-based International Association of Machinists and

Aerospace Workers after a more than seven-week strike.

Boeing also suffered one-time costs of $1.7 billion in its defense, space and security division in light of higher costs on some defense projects, some due to "impacts of the IAM work stoppage and agreement," Boeing said.

"Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet," said Boeing Chief Executive Kelly Ortberg.

"Our team remains focused on the hard work ahead to build a new future for Boeing."

Besides the strike, Boeing also faced intensified scrutiny last year from the US Federal Aviation Administration and lawmakers following an emergency landing in January 2024 of a 737 MAX flown by Alaska Airlines after the plane suffered a mid-flight blowout on a window panel.

Boeing, which last reported an annual profit in 2018, will officially release earnings on January 28.

Shares fell 1.1 percent in after-hours trading.