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Boeing (BA) Beats Q1 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 first quarter has decreased by 2 cents 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 21.42%.
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 $1.91 and the company reported adjusted earnings per share of $2.01.
Revenue: Revenues missed the expectations. Boeing posted revenues of $20.98 billion, compared to our consensus estimate of $21.44 billion.
Key Stats to Note: Boeing ended the first quarter of 2017 with total backlog of $480 billion, up from $473 billion at fourth-quarter end.
Boeing increased its 2017 outlook with its core earnings expected in the range of $9.20-$9.40 compared to the previous guided range of $9.10-$9.30. Its revenue forecast is reiterated in the range of $90.5-$92.5 billion.
Market Reaction: Shares were down about 1.10% 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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Boeing (BA) Beats Q1 Earnings Estimates, Misses on Revenues
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 first quarter has decreased by 2 cents 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 21.42%.
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 $1.91 and the company reported adjusted earnings per share of $2.01.
Revenue: Revenues missed the expectations. Boeing posted revenues of $20.98 billion, compared to our consensus estimate of $21.44 billion.
Key Stats to Note: Boeing ended the first quarter of 2017 with total backlog of $480 billion, up from $473 billion at fourth-quarter end.
Boeing increased its 2017 outlook with its core earnings expected in the range of $9.20-$9.40 compared to the previous guided range of $9.10-$9.30. Its revenue forecast is reiterated in the range of $90.5-$92.5 billion.
Boeing Company (The) Price and EPS Surprise
Boeing Company (The) Price and EPS Surprise | Boeing Company (The) Quote
Market Reaction: Shares were down about 1.10% 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!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>