Boeing (BA) Post-Earnings Analysis:
Boeing’s third quarter analysis reflected a wider than expected loss as the company reported a loss of $3.26 per share. Analysts were already expecting a loss of $3.16 so BA lost more than projected. The company did meet revenue expectations of $18B by reporting $18.1B for the third quarter, but many wonder if that’s enough to move their shares up to end 2023 and into 2024. Delivery guidance on the 737 Max airplane was reduced from 400 to 375 for 2023, down from the previous 400 to 450, the company cited a manufacturer error for the decrease. Despite the profit miss and delivery decrease, Boeing stood by its guidance to deliver free cash from of around $3-5B for the year, which could be a positive sign for investors.
All in all, Boeing’s earnings aren’t too impressive, but the company still has a hold on the industry for both commercial and defense planes, software, and components. Which could explain why despite all the negative earnings they’ve reported, their stock is still up for the year.
Technical analysis:
Boeing's next available strong support around 168.00 so buyers will need to step in between now and then to attempt a reversal, otherwise it can break towards 150.00. Strong resistance to the upside is 200.00, above that level we can see a price target of 232.00, but the ultimate breakout is 244.00