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Boeing (BA) Beats on Q4 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 2018 for the seventh 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 fourth quarter has increased by a penny over the past 60 days.

It also has an impressive history in earnings season, reporting positive earnings surprises in the last four quarters with an average beat of 28.01%.

Zacks Rank: Currently, Boeing sports a Zacks Rank #1 (Strong Buy). 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 $4.52 and the company reported adjusted earnings per share of $5.48.

Revenue Beat: Revenues also surpassed the expectations. Boeing posted revenues of $28.34 billion, compared to our consensus estimate of $26.65 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 2018 with total backlog of $490.48 billion, up from $474.64 billion at the end of 2017.

During 2018, the company repurchased 26.1 million shares for $9 billion and paid $3.9 billion in dividends.

Market Reaction: Boeing’s shares moved up about 5.5% in pre-market trading following the release, at the time of this write-up. This reflects investors’ optimism about the company’s better-than-expected Q4 results. 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!

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