Aerospace giant Boeing (NYSE:BA) is set to post third quarter results on Wednesday, before markets close.
Wall Street expects the Virginia-based company to post EPS of -$2.38 on revenue of $22.13 billion, implying a rise of 24% during the quarter.
The plane maker, in July, said its quarterly loss more than halved amid ramped up jet deliveries and production. This month, Boeing said after the Federal Aviation Administration will allow the company to raise production of the 737 MAX, lifting an unprecedented production cap of 38 planes per month that was imposed in January 2024.
“Boeing is executing a multi-year turnaround focused on increasing production and certifying new aircraft models to strengthen its balance sheet,” noted Seeking Alpha analyst Dhierin Bechai.
Seeking Alpha analyst Brian Gilmartin said the biggest positive to the Boeing story is the U.S. administration’s support of the aeroplane manufacturer, “as each of these trade deals that has been signed seems to have an aircraft purchase order attached to it with a commitment to buy Boeing aircraft.”
Over the last two years, Boeing has beaten EPS estimates 50% of the time and has beaten revenue estimates 38% of the time.
Seeking Alpha analysts and Wall Street are bullish and rated the stock a Buy and above, while Seeking Alpha’s Quant ratings consider it a Hold.
Over the last three months, EPS estimates have seen one upward revision, compared to 16 downward revisions. Revenue estimates have been revised upwards 15 times, versus two downward moves.
The stock has gained 26% so far this year, outperforming the near 17% rise in the broader S&P 500 Index.