Boeing Earnings: BEATS Forecasts

S&P 500 (NYSE:SPY) component The Boeing Company (NYSE:BA) reported net income above Wall Street’s expectations for the second quarter. Boeing is an aerospace firm that designs, develops, manufactures, sells, and supports commercial jetliners, military aircraft, satellites, missile defense, and human space flight services.

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The Boeing Company Earnings Cheat Sheet

Results: Net income for the aerospace/defense rose to $967 million ($1.27 per share) vs. $941 million ($1.25 per share) in the same quarter a year earlier. This marks a rise of 2.8% from the year-earlier quarter.

Revenue: Rose 20.9% to $20 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: The Boeing Company beat the mean analyst estimate of $1.10 per share. It beat the average revenue estimate of $19.37 billion.

Quoting Management: “Increased revenues and strong operating performance across both our major businesses drove significantly improved first-half 2012 results for Boeing,” said Chairman, President and Chief Executive Officer Jim McNerney. “Commercial airplane deliveries increased 27 percent in the second quarter, and our defense, space and security business also produced higher revenues and strong margins in a difficult market environment. As a result of this solid first-half performance, we have strengthened our outlook for the year, and our people remain focused on disciplined execution, quality and productivity, and meeting customer commitments,” McNerney said.

Key Stats:

The company has now seen its net income rise for three quarters in a row. In the first quarter, net income rose 57.5% and in the fourth quarter of the last fiscal year, the figure rose 19.7%.

Boeing (NYSE:BA) has now topped analyst estimates for the last four quarters. It beat the mark by 16 cents in the first quarter, by 29 cents in the fourth quarter of the last fiscal year, and by 35 cents in the third quarter of the last fiscal year.

Revenue has risen for the last four quarters. Revenue increased 30% to $19.38 billion in the first quarter. The figure rose 18.2% in the fourth quarter of the last fiscal year from the year earlier and climbed 4.5% in the third quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from $1.19 per share to $1.10, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past three months, the average estimate for the fiscal year has climbed from $4.48 per to share to $4.57.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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