Yahoo Finance Boeing (BA) Reports Q2: Everything You Need To Know Ahead Of Earnings
Aerospace and defense company Boeing (NYSE:BA) will be announcing earnings results tomorrow morning. Here's what to expect.
Boeing missed analysts' revenue expectations by 2.4% last quarter, reporting revenues of $16.57 billion, down 7.5% year on year. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
Is Boeing a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Boeing's revenue to decline 12% year on year to $17.38 billion, a reversal from the 18.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.93 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boeing has missed Wall Street's revenue estimates five times over the last two years.
Looking at Boeing's peers in the aerospace segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Woodward delivered year-on-year revenue growth of 5.9%, meeting analysts' expectations, and Textron reported revenues up 3%, in line with consensus estimates. Textron traded down 1.8% following the results.
Read our full analysis of Woodward's results here and Textron's results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 10.2% on average over the last month. Boeing's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $218.5 (compared to the current share price of $185.42).
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