Aerospace and defense company Boeing (NYSE: BA) will be reporting results this Tuesday before the bell. Here’s what investors should know.
Boeing missed analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $19.5 billion, up 17.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA 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 grow 28.5% year on year to $21.67 billion, a reversal from the 14.6% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.31 per share.
Heading into earnings, analysts covering the company have mixed opinions about the business, with revenue estimates seeing 7 upward and 9 downward revisions over the last 30 days. 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. AAR delivered year-on-year revenue growth of 14.9%, beating analysts’ expectations by 8.6%, and Textron reported revenues up 5.4%, topping estimates by 2.4%. AAR traded up 13.4% following the results while Textron was down 8.9%.
Read our full analysis of AAR’s results here and Textron’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 6.8% on average over the last month. Boeing is up 11.3% during the same time and is heading into earnings with an average analyst price target of $240.08 (compared to the current share price of $233.27).
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