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Boeing (BA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, Boeing (BA - Free Report) reported revenue of $18.1 billion, up 13.5% over the same period last year. EPS came in at -$3.26, compared to -$6.18 in the year-ago quarter.
The reported revenue represents a surprise of -0.82% over the Zacks Consensus Estimate of $18.25 billion. With the consensus EPS estimate being -$3.21, the EPS surprise was -1.56%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 105 versus 117 estimated by three analysts on average.
Deliveries - Commercial Airplanes - 737: 70 versus 81 estimated by three analysts on average.
Deliveries - Commercial Airplanes - 787: 19 versus the three-analyst average estimate of 20.
Deliveries - Commercial Airplanes - 777: 8 compared to the 7 average estimate based on three analysts.
Deliveries - Commercial Airplanes - 767: 8 versus the three-analyst average estimate of 9.
Total revenues- Global Services: $4.81 billion compared to the $5.28 billion average estimate based on five analysts. The reported number represents a change of +8.6% year over year.
Total Revenues- Defense, Space & Security: $5.48 billion versus $6.02 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
Total Revenues- Commercial Airplanes: $7.88 billion versus $7.18 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +25.8% change.
Total Revenues- Unallocated items, eliminations and other: -$65 million compared to the -$239.10 million average estimate based on four analysts. The reported number represents a change of -33.7% year over year.
Earnings/(loss) from operations- Global Services: $784 million versus $902.36 million estimated by four analysts on average.
Earnings/(loss) from operations- Commercial Airplanes: -$678 million versus the four-analyst average estimate of -$520.20 million.
Earnings/(loss) from operations- Defense Space & Security: -$924 million versus the four-analyst average estimate of -$492.98 million.
Shares of Boeing have returned -6.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Boeing (BA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Boeing (BA - Free Report) reported revenue of $18.1 billion, up 13.5% over the same period last year. EPS came in at -$3.26, compared to -$6.18 in the year-ago quarter.
The reported revenue represents a surprise of -0.82% over the Zacks Consensus Estimate of $18.25 billion. With the consensus EPS estimate being -$3.21, the EPS surprise was -1.56%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 105 versus 117 estimated by three analysts on average.
- Deliveries - Commercial Airplanes - 737: 70 versus 81 estimated by three analysts on average.
- Deliveries - Commercial Airplanes - 787: 19 versus the three-analyst average estimate of 20.
- Deliveries - Commercial Airplanes - 777: 8 compared to the 7 average estimate based on three analysts.
- Deliveries - Commercial Airplanes - 767: 8 versus the three-analyst average estimate of 9.
- Total revenues- Global Services: $4.81 billion compared to the $5.28 billion average estimate based on five analysts. The reported number represents a change of +8.6% year over year.
- Total Revenues- Defense, Space & Security: $5.48 billion versus $6.02 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
- Total Revenues- Commercial Airplanes: $7.88 billion versus $7.18 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +25.8% change.
- Total Revenues- Unallocated items, eliminations and other: -$65 million compared to the -$239.10 million average estimate based on four analysts. The reported number represents a change of -33.7% year over year.
- Earnings/(loss) from operations- Global Services: $784 million versus $902.36 million estimated by four analysts on average.
- Earnings/(loss) from operations- Commercial Airplanes: -$678 million versus the four-analyst average estimate of -$520.20 million.
- Earnings/(loss) from operations- Defense Space & Security: -$924 million versus the four-analyst average estimate of -$492.98 million.
View all Key Company Metrics for Boeing here>>>Shares of Boeing have returned -6.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.