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Boeing Beats Up on Analysts Yet Again

By Seth Jayson - Updated Apr 10, 2017 at 1:44PM

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Just the facts, Fool.

Boeing (NYSE: BA) reported earnings on April 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Boeing met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

Gross margins dropped, operating margins dropped, net margins expanded.

Revenue details
Boeing tallied revenue of $18.89 billion. The 17 analysts polled by S&P Capital IQ predicted a top line of $18.81 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.73. The 17 earnings estimates compiled by S&P Capital IQ predicted $1.47 per share. Non-GAAP EPS of $1.73 for Q1 were 42% higher than the prior-year quarter's $1.22 per share. GAAP EPS of $1.44 for Q1 were 18% higher than the prior-year quarter's $1.22 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 16.6%, 50 basis points worse than the prior-year quarter. Operating margin was 7.7%, 20 basis points worse than the prior-year quarter. Net margin was 5.9%, 110 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $20.53 billion. On the bottom line, the average EPS estimate is $1.56.

Next year's average estimate for revenue is $83.89 billion. The average EPS estimate is $6.32.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 3,895 members out of 4,321 rating the stock outperform, and 426 members rating it underperform. Among 949 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 890 give Boeing a green thumbs-up, and 59 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 $90.40.

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