The Boeing Company (NYSE:BA) has beaten the Street in their performance for the second quarter, Phil LeBeau reported on CNBC.
According to the CNBC correspondent, The Boeing Company (NYSE:BA) did beat estimates put out by Wall Street for their second quarter performance. Furthermoer, LeBeau said that they beat the Street by a wide margin. He explained:
“It looks like Boeing has beaten the Street and beaten it by a pretty wide margin. Officially, the company is going to report $2.42 for the quarter versus the Street [consensus]of $2.01 but just strip out the items and the special charges – and there are three of them, only one of which the Street knew about – and it comes out at $2.24 per share, for the quarter, versus the Street [estimate]of $2.01. We are not going to get into all of the math here but essentially you have a charge for the tanker program [and]you have a tax benefit that the Street did not know about. $2.24 is the number we expect Wall Street to go with.”
As for The Boeing Company (NYSE:BA) revenue, LeBeau said that it was with what the company put out earlier in its guidance. He then went on to discuss where the company performed and what should be noteworthy about this performance for the quarter.
“Revenue [is]coming roughly in line with guidance: $22.05 billion for the quarter. [There is] a couple of things [to take note of]here. How did they beat the Street? [There was] better performance in the commercial airline business. You have deliveries of 181 aircraft including 30 787s. [There is also] margins for the quarter in the commercial side of the business will be over 12% once you strip out the special charges related to the tanker program. And here is something that is going to get a lot of attention: increase in guidance for the full year earnings by 75 cents. It was $7.15 to $7.35 per share now going up to $7.90 to $8.10 per share for Boeing. Their guidance, by the way, the estimate was $7.66 on the street for the full year. Boeing is now raising their guidance above that estimate.”
Watch the video below where the The Boeing Company (NYSE:BA) results were discussed.