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 2017 for the sixth 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 second quarter has decreased by 6 cents over the past 7 days.
It also has an impressive history in earnings season, reporting positive earnings surprises in the last four quarters with an average beat of 29.51%.
Zacks Rank: Currently, Boeing has a Zacks Rank #3 (Hold).
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 $3.24 and the company reported adjusted earnings per share of $3.33.
Revenue Beat: Revenues also surpassed the expectations. Boeing posted revenues of $24.26 billion, compared to our consensus estimate of $23.98 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 the second quarter with total backlog of $488 billion, up from $486 billion at the beginning of the reported quarter.
During the quarter, the company repurchased 8.6 million shares for $3 billion and paid $1 billion in dividends.
Market Reaction: Boeing’s shares moved down about 2.8% in pre-market trading following the release, at the time of this write-up. It would be interesting to see how the market reacts to the results during the trading session today.
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