Boeing Co (NYSE:BA, XETRA:BCO) reported stronger-than-expected first quarter results on Wednesday, with revenue and earnings surpassing analyst forecasts, supported by higher commercial aircraft deliveries and improving operational performance. Revenue for the quarter came in at $22.2 billion, up 14% year over year and above the consensus estimate of $21.79 billion.
Boeing Co (NYSE:BA) stock is 2.6% higher to trade at $224.94 this morning, after the aerospace giant reported a narrower-than-expected first-quarter loss of 20 cents per share on better-than-expected revenue of $22.22 billion.
Boeing's stock jumped Wednesday, as a partnership with the Trump administration on PAC-3 interceptor missiles provided a boost to the company's defense business, which saw revenue rise well above expectations.
Boeing (BA) came out with a quarterly loss of $0.2 per share versus the Zacks Consensus Estimate of a loss of $0.95. This compares to a loss of $0.49 per share a year ago.
Boeing reported a first-quarter per-share loss of 20 cents from sales of $22.2 billion. Wall Street was looking for a per-share loss of 68 cents from sales of $21.3 billion.
Boeing on Wednesday reported a much smaller first-quarter loss than analysts expected, a sign of continued operational recovery after the COVID-19 pandemic and years of crises that dented its reputation and left it with a mountain of debt.
The plane maker reported brisk first-quarter commercial sales, despite wiring flaws that delayed some deliveries.
Boeing narrowed its losses in the first quarter as aircraft deliveries rise and other units like defense and services also showed improvements. The manufacturer is still producing its 737 Max cash cow at a rate of 42 a month.
Eagle Global Advisors LLC increased its position in shares of The Boeing Company (NYSE: BA) by 32.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,570 shares of the aircraft producer's stock after acquiring an additional 12,470 shares during the period. Eagle
Investors already know what Tesla's Q1 production and deliveries figures look like, but other factors could cause moves for the stock. Boeing has also already published its quarterly delivery numbers, but investors will be looking for other indicators for the business's outlook.
Boeing (BA) is heading into its Q1 earnings with a bit of a tug of war going on, where real progress in deliveries is being weighed against ongoing supply chain
In terms of Boeing's performance relative to the S&P 500, the airplane manufacturing giant continues to lag the S&P 500 versus its early 2019 peak price. When IBM reports Wednesday, the sell-side consensus is expecting $1.81 in EPS, $15.6 billion in revenue, and $2.6 billion in operating income for “expected” y-o-y growth of 13%, 7%, and 16%, respectively. IBM and Boeing represent non-correlated positions from a portfolio construction standpoint.