Boeing Company: The Underpressured PathBoeing results topped analyst expectations Wednesday thanks to a pickup in commercial aircraft deliveries as the manufacturer increases production, but losses in its defense and space businesses drove the manufacturer into the red for the quarter.
The company generated $2.6 billion of free cash flow in the second quarter, ahead of analyst forecasts, and reiterated its full-year guidance of between $3 billion and $5 billion of free cash flow.
Boeing shares surged 12.70% just in a week, and closed on Friday at $238.69, the stock’s highest closing price since November 2021.
Here’s how the company performed during the period ended June 30, compared with Refinitiv consensus estimates:
👉 Adjusted loss per share: 82 cents vs. 88 cents.
👉 Revenue: $19.75 billion vs. $18.45 billion
👉 Boeing and main rival Airbus have both struggled to increase aircraft production in the wake of the Covid pandemic as some airlines face longer waits for new jets, just as travel demand rebounds.
The company delivered 136 planes in the second quarter, up from 121 aircraft during the same period last year.
Meanwhile just a take a look what historically happened with Boeing stocks, almost every time after 10+ percent weekly advance. In simple words - that's been a flat, or even more than 10 percent decline.
Technical picture indicates that Bearish trend still is in power in NYSE:BA stocks, and 5yrs SMA is still a huge resistance.
