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 third quarter has mostly been to the upside. The company witnessed 3 upward 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 19.54%.
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 $2.62 and the company reported adjusted earnings per share of $3.51.
Revenue: Revenues surpassed the expectations. Boeing posted revenues of $23.90 billion, compared to our consensus estimate of $23.47 billion.
Key Stats to Note: Boeing ended the third quarter of 2016 with total backlog of $462 billion, down from $472 billion at second-quarter end.
Boeing raised its 2016 outlook with its core earnings is now expected in the range of $6.80-$7.00 versus $6.10-$6.30 per share expected earlier. It also raised its revenue forecast of $93.5-$95.5 billion versus $93-$95 billion expected earlier.
Market Reaction: Shares were up about 1.57% 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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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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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 third quarter has mostly been to the upside. The company witnessed 3 upward 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 19.54%.
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 $2.62 and the company reported adjusted earnings per share of $3.51.
Revenue: Revenues surpassed the expectations. Boeing posted revenues of $23.90 billion, compared to our consensus estimate of $23.47 billion.
Key Stats to Note: Boeing ended the third quarter of 2016 with total backlog of $462 billion, down from $472 billion at second-quarter end.
Boeing raised its 2016 outlook with its core earnings is now expected in the range of $6.80-$7.00 versus $6.10-$6.30 per share expected earlier. It also raised its revenue forecast of $93.5-$95.5 billion versus $93-$95 billion expected earlier.
Market Reaction: Shares were up about 1.57% 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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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