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Boeing (BA) Beats Q3 Earnings Estimates, Lifts 2015 Outlook

The Boeing Co.BA is a premier jet aircraft manufacturer and is also one of the largest defense contractors in the U.S. Its revenue exposure is spread across more than 90 countries around the globe.

In the race for supremacy in the commercial skies, the North American jet plane maker - Boeing − has surpassed its European rival Airbus in 2014 for the third consecutive year. Competition between Airbus and Boeing has been characterized as a duopoly in the large jet airliner market since the 1990s.

Estimates Revision & Earnings Surprise Trend

Boeing's earnings estimates revision for the quarter has mostly been to the upside. The company witnessed 8 upward revisions over the past 30 days.

It does have an impressive history in earnings season, reporting positive earnings surprises in the last four quarters with an average beat of 11.33%.

Zacks Rank: Currently, Boeing has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: Boeing beat on earnings estimates. Our consensus called for EPS of $2.22, and the company reported adjusted EPS of $2.52.

Revenue: Revenues surpassed the expectations. Boeing posted revenues of $25.8 billion, compared to our consensus estimate of $24.74 billion.

Key Stats to Note: Boeing ended the third quarter of 2015 with total backlog of $485 billion, down from $489 billion at the beginning of the year.

The company has raised its core earnings expectation to the range of $7.95−$8.15 per share from its earlier expectation of $7.70-$7.90 per share for 2015.

Market Reaction: Shares were up about 3.33% in pre-market trading following the release, at the time of this write-up.

Check back later for our full write up on this Boeing earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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