The company has suspended new deliveries of the plane in the wake of the biggest crisis in its 103-year history.
Boeing on January 29 said fourth-quarter revenue was $17.9 billion, a decrease of 37% from the same period a year ago.
The company set aside $2.6 billion to compensate airlines that have been forced to cancel thousands of flights due to grounded MAX planes and undelivered aircraft.
Costs related to the global grounding of Boeing's once fast-selling 737 MAX reached $14.6bn in 2019 and the planemaker warned of another $4bn in charges in 2020 due to the expense of freezing and slowly restarting the jets' production.
Boeing reported its first annual loss in more than two decades on Wednesday, as the company continues to grapple with the fallout of the 737 Max crisis.
The company originally planned to have the 777X ready for 2021 but questions remain about how much scrutiny the FAA and other aviation regulators will give the program.
Slowing demand for larger planes led the company to announce it will reduce production of the 787 Dreamliner from 14 a month to 12 later this year, then 10 early next year.
Boeing's final frontier is also facing a challenging year: Last month, Boeing's CST-100 Starliner space taxi failed to get to the International Space Station as intended during its first uncrewed orbital test. Boeing said it expects the financial toll from the grounding to hit almost $19 billion.
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The numbers essentially flip among liberal Democrats, where 70% say they trust CNN and 77% don't trust what they see on Fox. After Friday, the president's defence team will have 24 hours over three days to mount a rebuttal of the Democrat's case.
Airplane fuselages bound for Boeing's 737 MAX production facility sit in storage at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, on December 17, 2019.
General Electric Co plans to slash 737 MAX engine deliveries to Boeing roughly in half this year.
The new reduction in planned Dreamliner production further darkened the outlook for Boeing, which suspended its financial forecast a year ago because of the Max crisis.
"I know pilots like to fly this aircraft as they tell me", he said.
Boeing said on Wednesday the changes in the production schedule added $2.6 billion in costs connected to airplane deliveries, plus another $4 billion in "abnormal production costs" primarily in 2020 associated with the suspension of the MAX and a "gradual resumption" of production.
Revenue tumbled to $17.9bn, far below Wall Streets forecast of $21.7bn, according to a FactSet survey of analysts.
Calhoun criticized company leaders who didn't disclose the messages right away. There are more than 600 Boeing suppliers in Canada but the impact on them could not be ascertained by Skies in the immediate aftermath of the conference call.
Some say Wednesday's share price rally-despite the disappointing earnings numbers-can be explained by the forward-looking nature of markets and confidence in Boeing's newly-appointed CEO.