The Boeing Company Earnings Cheat Sheet: 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 Company 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 for the Second Quarter

Results: Net income for the aerospace/defense products and services company rose to $941 million ($1.25 per share) vs. $787 million ($1.06 per share) in the same quarter a year earlier. This marks a rise of 19.6% from the year earlier quarter.

Revenue: Rose 6.2% to $16.54 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: BA beat the mean analyst estimate of 96 cents per share. Analysts were expecting revenue of $16.41 billion.

Quoting Management: “Strong operational performance drove double-digit margins at both of our major businesses and produced outstanding results in the quarter,” said Jim McNerney, Boeing chairman, president and chief executive officer.”We also made major progress toward certification and delivery of the 787 Dreamliner and 747-8 and continued our disciplined increases in commercial airplane production rates.Our outlook for the year has strengthened as our team continues its relentless focus on productivity improvement, cash management and program execution.”

Key Stats:

A year-over-year revenue increase last quarter snaps a streak of two consecutive quarters of revenue declines. Revenue fell 2% in the first quarter and fell 7.7% in the fourth quarter of the last fiscal year.

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 79 cents versus a mean estimate of net income of 71 cents per share.

Gross margins expanded last quarter, rising 0.7 percentage point to 20.2% from the year earlier quarter. This snaps a streak of two consecutive quarters of shrinking margins.

Competitors to Watch: Lockheed Martin Corp. (NYSE:LMT), Embraer SA (NYSE:ERJ), Raytheon Company (NYSE:RTN), Northrop Grumman Corp. (NYSE:NOC), Honeywell Intl. Inc. (NYSE:HON), Spirit AeroSystems Hldgs., Inc. (NYSE:SPR), General Dynamics Corp. (NYSE:GD), Orbital Sciences Corp. (NYSE:ORB), Alliant Techsystems Inc. (NYSE:ATK), and Rockwell Collins, Inc. (NYSE:COL).

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(Source: Xignite Financials)