The 10-second takeaway
For the quarter ended March 31 (Q1), Boeing beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share expanded significantly.
Gross margins dropped, operating margins expanded, and net margins increased.
Boeing logged revenue of $19.38 billion. The 20 analysts polled by S&P Capital IQ hoped for sales of $18.44 billion on the same basis. GAAP reported sales were 30% higher than the prior-year quarter's $14.91 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.22. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.94 per share. GAAP EPS of $1.22 for Q1 were 56% higher than the prior-year quarter's $0.78 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 17.2%, 200 basis points worse than the prior-year quarter. Operating margin was 8.0%, 170 basis points better than the prior-year quarter. Net margin was 4.8%, 90 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $19.43 billion. On the bottom line, the average EPS estimate is $1.09.
Next year's average estimate for revenue is $79.07 billion. The average EPS estimate is $4.57.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 3,852 members rating the stock outperform and 390 members rating it underperform. Among 955 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 903 give Boeing a green thumbs-up, and 52 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boeing is outperform, with an average price target of $84.88.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.