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Boeing Earnings: BA Stock Moves Higher Despite Q3 Miss

BA missed EPS estimates by 64 cents

Boeing (NYSE:BA) earnings for the aerospace company’s third quarter of 2019 have BA stock up on Wednesday. This is despite the company’s core EPS of $1.45 missing Wall Street’s estimate of $2.09 for the quarter. Revenue of $19.98 billion does manage to beat analysts’ estimates of $19.67 billion for the quarter.

Boeing Earnings: BA Stock Moves Higher Despite Q3 Miss
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Let’s see more of what’s going on in the most recent Boeing earnings report.

  • Core per-share earnings were down 59% YoY from $3.58.
  • Revenue comes in 21% lower than the $25.15 billion reported in the third quarter of 2018.
  • Operating income of $1.26 billion is a 43% drop from $2.23 billion in the same period of the year prior.
  • Operating margin of 6.30% is down from 8.90% from the same time last year.
  • The Boeing earnings report also includes a net income of $1.17 billion.
  • That’s a 51% drop from net income of $2.36 billion in the third quarter of the previous year.

The Boeing earnings report also includes the following update concerning the 737 Max ban.

“For purposes of the third-quarter results, the company has assumed that regulatory approval of the 737 MAX return to service begins in the fourth quarter of 2019 and that it will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020.”

BA stock reached a peak increase of 3.81% in trading on Wednesday morning following the release of its Q3 earnings report. However, the stock is currently only up slightly from its closing price of $337.00 on Tuesday. It’s also up 4.07% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/boeing-earnings-boost-ba-stock-despite-miss/.

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