Boeing Beats on Both Top and Bottom Lines
Boeing (NYS: BA) reported earnings on July 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Boeing beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share increased slightly.
Margins contracted across the board.
Revenue details
Boeing booked revenue of $20.01 billion. The 20 analysts polled by S&P Capital IQ expected revenue of $19.30 billion on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $16.54 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $1.27. The 25 earnings estimates compiled by S&P Capital IQ forecast $1.11 per share. GAAP EPS of $1.27 for Q2 were 1.6% higher than the prior-year quarter's $1.25 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 16.3%, 390 basis points worse than the prior-year quarter. Operating margin was 7.5%, 110 basis points worse than the prior-year quarter. Net margin was 4.8%, 90 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $20.03 billion. On the bottom line, the average EPS estimate is $1.10.
Next year's average estimate for revenue is $79.58 billion. The average EPS estimate is $4.58.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 3,879 members out of 4,265 rating the stock outperform, and 386 members rating it underperform. Among 940 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 877 give Boeing a green thumbs-up, and 63 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boeing is outperform, with an average price target of $86.12.
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The article Boeing Beats on Both Top and Bottom Lines originally appeared on Fool.com.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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