Boeing (NYSE:BA) earnings for the aviation company’s fourth quarter of 2019 have BA stock up on Wednesday. This is despite its adjusted losses per share coming in at -$2.33. That’s nowhere near Wall Street’s estimate of $1.47 per share. Revenue of $17.91 billion also fails to reach analysts’ estimates of $21.67 billion.
Let’s take a closer look at the most recent Boeing earnings report.
- The company switched to core per-share losses from adjusted EPS of $5.48 in the same period of the year prior.
- Revenue is down 36.80% from $28.34 billion in the fourth quarter of 2018.
- Operating loss of -$2.20 billion is a switch from an operating income of $4.18 billion during the same time last year.
- The Boeing earnings report also has net loss coming in at -$1.01 billion.
- This is worse off than its net income of $3.42 billion from Q4 of the previous year.
David Calhoun, President and CEO of Boeing, has this to say about the BA stock earnings report.
“We recognize we have a lot of work to do. We are focused on returning the 737 MAX to service safely and restoring the long-standing trust that the Boeing brand represents with the flying public. Safety will underwrite every decision, every action and every step we take as we move forward.”
The Boeing earnings report includes an update to the production of its 737 Max airplanes. The company says that it will be reducing production to 10 aircraft a month starting in early 2021. It plans to bring this number up to 12 in 2023.
BA stock was up 2.19% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
