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Boeing (BA) Beats on Q2 Earnings and Revenue Estimates
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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 2017 for the sixth 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 estimate for the second quarter has decreased by 6 cents over the past 7 days.
It also has an impressive history in earnings season, reporting positive earnings surprises in the last four quarters with an average beat of 29.51%.
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 Beat: Our consensus called for earnings of $3.24 and the company reported adjusted earnings per share of $3.33.
Revenue Beat: Revenues also surpassed the expectations. Boeing posted revenues of $24.26 billion, compared to our consensus estimate of $23.98 billion.
Key Stats to Note: Boeing ended the second quarter with total backlog of $488 billion, up from $486 billion at the beginning of the reported quarter.
During the quarter, the company repurchased 8.6 million shares for $3 billion and paid $1 billion in dividends.
Market Reaction: Boeing’s shares moved down about 2.8% in pre-market trading following the release, at the time of this write-up. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this Boeing earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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Boeing (BA) Beats on Q2 Earnings and Revenue Estimates
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 2017 for the sixth 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 estimate for the second quarter has decreased by 6 cents over the past 7 days.
It also has an impressive history in earnings season, reporting positive earnings surprises in the last four quarters with an average beat of 29.51%.
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 Beat: Our consensus called for earnings of $3.24 and the company reported adjusted earnings per share of $3.33.
Revenue Beat: Revenues also surpassed the expectations. Boeing posted revenues of $24.26 billion, compared to our consensus estimate of $23.98 billion.
The Boeing Company Price and EPS Surprise
The Boeing Company Price and EPS Surprise | The Boeing Company Quote
Key Stats to Note: Boeing ended the second quarter with total backlog of $488 billion, up from $486 billion at the beginning of the reported quarter.
During the quarter, the company repurchased 8.6 million shares for $3 billion and paid $1 billion in dividends.
Market Reaction: Boeing’s shares moved down about 2.8% in pre-market trading following the release, at the time of this write-up. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this Boeing earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>