Given all the headlines and headwinds Boeing has battled since April, the Grim Reaper should have been the moderator for the company’s earnings call on Wednesday.
After all, BA’s flagship 787 Dreamliner — which was grounded from January to April after lithium-ion battery fires in two jets — suffered yet another fire unconnected to the battery problem earlier this month.
Even so, Boeing’s commercial airplanes unit helped drive revenue up 9% year-over-year, while earnings per share soared by 11% to $1.41 from last year’s $1.27. BA also raised its full-year earnings estimate to a range of $6.20 to $6.40, up from the previous estimate of $6.10 to $6.30.
Although defense cuts slightly hit the company’s revenue, Boeing has managed to grow margins and market share, while managing costs effectively. It doesn’t hurt that commercial aircraft orders are on afterburners now.