Boeing (NYSE:BA) stock is flying high on Wednesday following a surprisingly good earnings report for the second quarter of 2021.
The positive earnings report for Boeing starts off with adjusted earnings per share of 40 cents. That’s a major improvement over its adjusted losses per share of $4.79 from the same time last year. It’s also a boon to BA stock by smashing Wall Street’s adjusted per-share losses estimate of 72 cents.
The Boeing earnings report also includes revenue of 17 billion for the second quarter of 2021. That’s a 44% jump from the company’s revenue of $11.81 million from the same period of the year prior. While that does come in below analysts’ estimates of $17.78 billion, investors aren’t dragging BA stock down for it.
Boeing notes that its plans to reintroduce the 737 MAX have been going well. The company is currently producing 16 of the jets per month and expects to gradually increase this to 31 per month in early 2022.
David Calhoun, president and CEO of Boeing, said the following in the earnings report pushing BA stock higher today.
“While our commercial market environment is improving, we’re closely monitoring COVID-19 case rates, vaccine distribution and global trade as key indicators for our industry’s stability. As we continue to position for a robust recovery, we remain committed to safety and quality, while investing in our people, products and technology.”
BA is experiencing heavy trading today following its Q2 earnings report. As of this writing, more than 13 million shares of the stock have changed hands. That’s already above its daily average trading volume of about 12.7 million shares.
BA stock was up 5.2% as of Wednesday afternoon.
Boeing isn’t the only company on the rise Wednesday.
Several others are also gaining and InvestorPlace has the reasons collected here. That includes why shares of Support.com (NASDAQ:SPRT), cannabis stocks, and Chinese EV stocks are running higher today. You can learn all about that at the links below!
More Wednesday Stock Market Gainers
- SPRT Stock: 13 Things to Know About Support.com as Shorts Get Squeezed Today
- Cannabis Stocks: Why TLRY, CGC, ACB, SNDL Stocks Are Getting High Today
- Chinese EV Stocks: Why LI, XPEV, NIO Stocks Are Bouncing Back today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.