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Boeing (BA) Tops Q4 Earnings Estimates, Misses on Revenues

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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 fourth quarter has remained stable 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 24.66%.

Zacks Rank: Currently, Boeing has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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 earnings of $2.34 and the company reported adjusted earnings per share of $2.47.

Revenue: Revenues missed the expectations. Boeing posted revenues of $23.29 billion, compared to our consensus estimate of $23.45 billion.

Key Stats to Note: Boeing ended the fourth quarter of 2016 with total backlog of $473 billion, up from $462 billion at third-quarter end.

Boeing provided its 2017 outlook with its core earnings expected in the range of $9.10-$9.30. Its revenue forecast lies in the range of $90.5-$92.5 billion.

Market Reaction: Shares were up about 1.45% 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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