Boeing (BA - Free Report) reported $16.57 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 7.5%. EPS of -$1.13 for the same period compares to -$1.27 a year ago.
The reported revenue represents a surprise of -6.34% over the Zacks Consensus Estimate of $17.69 billion. With the consensus EPS estimate being -$1.43, the EPS surprise was +20.98%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Boeing performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Deliveries - Total: 97 versus the four-analyst average estimate of 99.
- Deliveries - Commercial Airplanes - 787: 13 versus the four-analyst average estimate of 15.
- Deliveries - Commercial Airplanes - 767: 3 versus 3 estimated by four analysts on average.
- Deliveries - Commercial Airplanes - 737: 67 versus the four-analyst average estimate of 79.
- Total revenues- Global Services: $5.05 billion versus the seven-analyst average estimate of $4.99 billion. The reported number represents a year-over-year change of +6.9%.
- Total Revenues- Defense, Space & Security: $6.95 billion versus the seven-analyst average estimate of $6.38 billion. The reported number represents a year-over-year change of +6.3%.
- Total Revenues- Commercial Airplanes: $4.65 billion versus $6.69 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -30.6% change.
- Total Revenues- Unallocated items, eliminations and other: -$79 million versus the six-analyst average estimate of -$47.06 million. The reported number represents a year-over-year change of +88.1%.
- Earnings/(loss) from operations- Global Services: $916 million versus the five-analyst average estimate of $869.10 million.
- Earnings/(loss) from operations- Commercial Airplanes: -$1.14 billion compared to the -$910.70 million average estimate based on five analysts.
- Earnings/(loss) from operations- Defense Space & Security: $151 million compared to the -$62.50 million average estimate based on five analysts.
- Earnings/(loss) from operations- Unallocated items, eliminations and other: -$312 million versus the three-analyst average estimate of -$491.82 million.
View all Key Company Metrics for Boeing here>>>Shares of Boeing have returned -9.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Boeing (BA - Free Report) reported $16.57 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 7.5%. EPS of -$1.13 for the same period compares to -$1.27 a year ago.
The reported revenue represents a surprise of -6.34% over the Zacks Consensus Estimate of $17.69 billion. With the consensus EPS estimate being -$1.43, the EPS surprise was +20.98%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Boeing performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Deliveries - Total: 97 versus the four-analyst average estimate of 99.
- Deliveries - Commercial Airplanes - 787: 13 versus the four-analyst average estimate of 15.
- Deliveries - Commercial Airplanes - 767: 3 versus 3 estimated by four analysts on average.
- Deliveries - Commercial Airplanes - 737: 67 versus the four-analyst average estimate of 79.
- Total revenues- Global Services: $5.05 billion versus the seven-analyst average estimate of $4.99 billion. The reported number represents a year-over-year change of +6.9%.
- Total Revenues- Defense, Space & Security: $6.95 billion versus the seven-analyst average estimate of $6.38 billion. The reported number represents a year-over-year change of +6.3%.
- Total Revenues- Commercial Airplanes: $4.65 billion versus $6.69 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -30.6% change.
- Total Revenues- Unallocated items, eliminations and other: -$79 million versus the six-analyst average estimate of -$47.06 million. The reported number represents a year-over-year change of +88.1%.
- Earnings/(loss) from operations- Global Services: $916 million versus the five-analyst average estimate of $869.10 million.
- Earnings/(loss) from operations- Commercial Airplanes: -$1.14 billion compared to the -$910.70 million average estimate based on five analysts.
- Earnings/(loss) from operations- Defense Space & Security: $151 million compared to the -$62.50 million average estimate based on five analysts.
- Earnings/(loss) from operations- Unallocated items, eliminations and other: -$312 million versus the three-analyst average estimate of -$491.82 million.
View all Key Company Metrics for Boeing here>>>Shares of Boeing have returned -9.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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