Boeing earnings for the airline maker’s second quarter of 2019 saw BA stock falling on Wednesday.Boeing (NYSE:BA) reported losses per share of $5.82 for the second quarter of the year. This is a major drop from the company’s earnings per share of $3.33 from the same time last year. It was also a blow to BA stock by missing Wall Street’s earnings per share estimate of $1.87 for the quarter.
Net loss reported in the Boeing earnings release for the second quarter of 2019 comes in at $2.94 billion. This is worse off than the company’s net income of $2.20 billion reported in the second quarter of the previous year.
The Boeing earnings report for the second quarter of the year has revenue coming in at $15.75 billion. This is down from the company’s revenue of $24.26 billion reported in the same period of the year prior. It also misses analysts’ revenue estimate of $18.55 billion for the quarter.
The poor Boeing earnings report has to do with issues surrounding the company’s 737 MAX. The company announced prior to its earnings report that this would have an affect on it. It notes that this hurt its revenue by $5.60 billion and earnings per share by $8.74. Another factor that was hitting BA stock today was lower 737 deliveries during the second quarter of the year.
BA stock was down 2% as of noon Wednesday, but is still up 15% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.