Boeing Earnings: Here’s Why the Stock is Rising Now
Boeing Co. (NYSE:BA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.77%.
Boeing Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.8% to $1.73 in the quarter versus EPS of $1.22 in the year-earlier quarter.
Revenue: Decreased 2.53% to $18.89 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Boeing Co. reported adjusted EPS income of $1.73 per share. By that measure, the company beat the mean analyst estimate of $1.48. It beat the average revenue estimate of $18.84 billion.
Quoting Management: “Strong core operating performance fueled by productivity gains and solid program execution drove higher company earnings and double-digit operating margins in both major businesses during the quarter,” said Boeing Chairman, President and Chief Executive Officer Jim McNerney. “Commercial Airplanes worked around the clock to resolve the 787 battery issue while also successfully increasing production rates on the 737 and 777 programs. Defense, Space & Security continued to perform exceptionally well, meeting tough affordability goals while investing in future growth.”
Key Stats (on next page)…