The Boeing Company Earnings Cheat Sheet: Tops Analysts’ Expectations

S&P 500 (NYSE:SPY) component The Boeing Company (NYSE:BA) reported net income above Wall Street’s expectations for the third 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 for the Third Quarter

Results: Net income for the aerospace/defense products and services company rose to $1.1 billion ($1.46 per share) vs. $837 million ($1.12 per share) in the same quarter a year earlier. This marks a rise of 31.2% from the year earlier quarter.

Revenue: Rose 4.5% to $17.73 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: BA beat the mean analyst estimate of $1.11 per share. Analysts were expecting revenue of $17.92 billion.

Quoting Management: “Strong operational performance drove double-digit margins in both of our major businesses and produced an outstanding quarter,” said Boeing chairman, president and chief executive officer, Jim McNerney. “We also strengthened our foundation for accelerated growth by completing development and certification of the 787-8 Dreamliner and 747-8 Freighter, launching the new 737 MAX, and continuing our disciplined ramp up in commercial airplane production rates. Our improved outlook for earnings reflects confidence in our market positions, and our team’s relentless focus on productivity and disciplined execution.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 28 cents in the second quarter and by 8 cents in the first quarter.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 6.2% to $16.54 billion from the year earlier quarter.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from $1.27 per share to $1.14, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved up from $4.14 a share to $4.26 over the last ninety days.

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)