
Boeing (BA) Stock Higher as Earnings Fly Past Estimates
NEW YORK (TheStreet) -- The Boeing Co. (BA) - Get Report shares are up 2.21% to $141.95 on Wednesday morning after the aerospace company delivered strong third quarter fiscal 2015 earnings results that beat analysts' estimates.
Earnings for the latest quarter came in at $2.52 a share, topping analysts' estimates of $2.22 a share.
The Chicago-based company reported revenue of $25.8 billion, beating analysts' estimates of $24.74 billion.
In the third quarter of fiscal 2014, the company earned $2.14 a share on revenue of $23.8 billion.
Profit in the recent quarter was boosted by a rise in commercial and aircraft deliveries.
"By continuing to profitably deliver on our large and diverse backlog, we are driving strong growth in revenue, earnings and cash flow," CEO Dennis Muilenburg stated.
Looking ahead, the company increased its 2015 outlook to a range of $7.95 to $8.15 a share from $7.70 to $7.90 a share. It also lifted its revenue forecast by $0.5 billion to a range of $95 billion to $97 billion.
Separately, TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate BOEING CO (BA) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: BA
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