Boeing’s Q3 results have landed – the stock is down
27 October 2022The Boeing Company (NYSE:BA) announced Q3 earnings results before the market open in the US on Wednesday.
The world’s largest aerospace company reported revenue that missed analyst expectations at $15.956 billion (up by 4% year-over-year) vs. $17.911 billion estimate.
The company reported a loss per share of -$6.18 per share vs. $0.132 earnings per share expected.
“We continue to make important strides in our turnaround and remain focused on our performance,” Dave Calhoun, Boeing President, and CEO said in a press release following the announcement.
“We generated strong cash in the quarter and are on a solid path to achieving positive free cash flow for 2022. At the same time, revenue and earnings were significantly impacted by losses on our fixed-price defense development programs. We’re squarely focused on maturing these programs, mitigating risks and delivering for our customers and their important missions. We remain in a challenging environment and have more work ahead to drive stability, improve our performance and ensure we’re consistently delivering on our commitments. Despite the challenges, I’m proud of our team and the progress we’ve made to strengthen our company,” Calhoun concluded.
Shares of Boeing took a hit on after the announcement of the latest results. The stock was down by around 3% at $140.85 a share.
Stock performance
- 1 month: +6.50%
- 3 months: -8.95%
- Year-to-date: -29.41%
- 1 year: -31.21%
Boeing price targets
- Credit Suisse: $98
- Morgan Stanley: $233
- Wells Fargo: $210
- Benchmark: $200
- RBC Capital: $200
- JP Morgan: $188
- Citigroup: $209
Boeing is the 147th largest company in the world with a market cap of $83.94 billion.
You can trade The Boeing Company (NYSE:BA) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: The Boeing Company, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.
Next Article
Why you need to be aware of Stop Loss Hunting
Stop loss hunting is frustrating, annoying and can be detrimental to any retail trader. The premise of stop hunting is that large systemised institutional trading strategies know where the average retail trader or most traders will set stop losses and therefore profit off triggering these ‘stops. Their own algorithm will then deliberate...
Previous Article
CPI figures released for Australia
The Australian Consumer Price Index, (CPI) data was released earlier today with the figures coming out higher than expected. The CPI provides importan...
