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The Boeing Co. (BA - Free Report) is a premier jet aircraft manufacturer and is also one of the largest defense contractors in the U.S. Its revenue exposure is spread across more than 90 countries around the globe.
In the race for supremacy in the commercial skies, the North American jet plane maker – Boeing − has surpassed its European rival Airbus in 2015 for the fourth consecutive year. Competition between Airbus and Boeing has been characterized as a duopoly in the large jet airliner market since the 1990s.
Estimates Revision & Earnings Surprise Trend
Boeing’s earnings estimates revision for the second quarter has mostly been to the downside. The company witnessed 4 downward revisions over the past 7 days.
Yet, it does have an impressive history in earnings season, reporting positive earnings surprises in the last three of the four quarters with an average beat of 10.97%.
Zacks Rank: Currently, Boeing has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Our consensus called for loss of 88 cents and the company reported adjusted loss per share of 44 cents.
Revenue: Revenues surpassed the expectations. Boeing posted revenues of $24.76 billion, compared to our consensus estimate of $24.45 billion.
Key Stats to Note: Boeing ended the second quarter of 2016 with total backlog of $472 billion, down from $480 billion at first-quarter end.
Boeing lowered its 2016 outlook with its core earnings is now expected in the range of $6.10-$6.30 versus $8.15−$8.35 per share expected earlier. It, however, maintained its revenue forecast of $93-$95 billion.
Market Reaction: Shares were up about 4.28% in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Boeing earnings report later!
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Boeing (BA) Reports Q2 Loss, Beats on Revenues
The Boeing Co. (BA - Free Report) is a premier jet aircraft manufacturer and is also one of the largest defense contractors in the U.S. Its revenue exposure is spread across more than 90 countries around the globe.
In the race for supremacy in the commercial skies, the North American jet plane maker – Boeing − has surpassed its European rival Airbus in 2015 for the fourth consecutive year. Competition between Airbus and Boeing has been characterized as a duopoly in the large jet airliner market since the 1990s.
Estimates Revision & Earnings Surprise Trend
Boeing’s earnings estimates revision for the second quarter has mostly been to the downside. The company witnessed 4 downward revisions over the past 7 days.
Yet, it does have an impressive history in earnings season, reporting positive earnings surprises in the last three of the four quarters with an average beat of 10.97%.
Zacks Rank: Currently, Boeing has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Our consensus called for loss of 88 cents and the company reported adjusted loss per share of 44 cents.
Revenue: Revenues surpassed the expectations. Boeing posted revenues of $24.76 billion, compared to our consensus estimate of $24.45 billion.
Key Stats to Note: Boeing ended the second quarter of 2016 with total backlog of $472 billion, down from $480 billion at first-quarter end.
Boeing lowered its 2016 outlook with its core earnings is now expected in the range of $6.10-$6.30 versus $8.15−$8.35 per share expected earlier. It, however, maintained its revenue forecast of $93-$95 billion.
Market Reaction: Shares were up about 4.28% in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Boeing earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>