Boeing Co Shares Fall Despite a Boost to Future Earnings (BA)

Boeing Co (BA) and Nasdaq Inc (NDAQ) released their latest earnings reports before opening bell this morning. Boeing reported adjusted earnings of $3.51 per share on $23.9 billion in sales. Analysts had been expecting $2.61 per share in earnings and $23.6 billion in revenue.

Nasdaq reported non-GAAP earnings of 91 cents per share on $585 million in revenue, marking an 11% year over year increase. Analysts had been projecting 90 cents per share in earnings and $586.2 million in revenue.

Boeing Raises Guidance

Boeing’s GAAP earnings rose to $3.60 per share from $2.47 per share in last year’s third quarter. The company’s backlog is still robust at $462 billion and more than 5,600 orders for commercial airplanes. Boeing delivered 188 commercial airplanes during the third quarter, compared to 199 last year. Commercial Airplanes revenue fell to $17 billion on lower planned delivery volume.

Defense, Space & Security revenues amounted to $7.5 billion, including $3.3 billion in Boeing Military Aircraft, $1.7 billion in Network & Space Systems revenue and $2.5 billion in Global Services & Support revenue.

Boeing also increased its outlook for the year, boosting its full-year sales guidance by $500 million to a new range of $93.5 billion to $95.5 billion. The airplane manufacturer also boosted its full-year GAAP earnings outlook to a range of $7.10 to $7.30 per share from $6.40 to $6.60 per share.

Boeing’s full-year adjusted earnings guidance moves to between $6.80 and $7 per share from $6.10 to $6.30 per share. The full-year consensus estimates currently stand at $94 billion in sales and $6.34 per share in earnings.

Shares of Boeing jumped by as much as 1.06% to $140.50 in premarket trades but BA stock is down on the news in Wednesday trading.

Nasdaq Sees Record Revenues

Meanwhile, Nasdaq’s GAAP earnings were 77 cents per share. Subscription and recurring revenues for the third quarter hit a new record and made up 75% of total net revenues. The firm’s Information Services, Technology Solutions and Listing Services all set new records for net revenues.

Market Services revenues rose to $213 million, while Equity Derivatives revenues grew to $67 million. Cash Equities revenues declined to $59 million, while Commodities Trading and Clearing revenues declined to $18 million. Information Services revenues rose to $137 million, Technology Solutions revenues grew to $167 million, and Listing Services revenues increased to $68 million.

As of the end of September, the firm had achieved $23 million in annualized run-rate cost synergies for the acquisitions it completed this year. It is targeting $60 million by the time the integration is complete.

Shares of Nasdaq edged upward by as much as 0.06% to $66.40 in premarket trades this morning, however NDAQ shares are trading lower in Wednesday morning action.

The post Boeing Co Raises Guidance, Nasdaq Posts Record Revenue appeared first on ValueWalk.

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