Boeing shares tumbled in pre-market trade Wednesday after it reported lower fourth-quarter earnings and offered a disappointing outlook on 2016 sales and profits.

Shares of the aerospace giant tumbled six percent to $120.33 in pre-market trade. Boeing projected 2016 core earnings per share of $8.15-$8.35, well below the $9.43 expected by Wall Street analysts. Revenues were projected at $93-$95 billion, lagging the $96.1 billion analyst estimate.