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Boeing Q3 Preview: Stock Down 26% From 52-Week Highs, Could Strong Backlog Kickstart Another Rally?
Boeing is due to report third-quarter financial results on Tuesday. Its shares are down 13% so far this year and 26% from their 52-week highs. Analysts expect revenue of $23.84 billion, up from $23.27 billion a year earlier, and a loss of 21 cents per share.
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What happened
Boeing is due to report third-quarter financial results on Tuesday. Its shares are down 13% so far this year and 26% from their 52-week highs. Analysts expect revenue of $23.84 billion, up from $23.27 billion a year earlier, and a loss of 21 cents per share.
Confirmed
Global impact / market context
A strong backlog of aircraft orders could help Boeing win back investors after a 26% drop from yearly highs. Revenue has topped analyst estimates in six straight quarters, but earnings have been weaker, missing estimates in seven of the last 10 quarters.
Confirmed
Analysts see possible value in Boeing's military contracts, including the Air Force F-47 and Navy F/A-XX fighter programs. One analyst said Boeing holds the keys to the future of U.S. tactical aircraft and rated the stock Buy.
Analyst inference
What to watch
- Watch whether third-quarter revenue reaches the $23.84 billion analysts expect, which would extend Boeing's six-quarter streak of beating revenue estimates and show demand holding up. Confirmed
- Watch for management comments on the strength of the order backlog, which is the stock of planes customers have ordered but not yet received, since a strong backlog is proposed as a possible rally trigger. Proposed
- Watch whether profit or loss per share beats the expected 21-cent loss, since earnings have missed estimates in seven of the last 10 quarters and may weigh on investor confidence. Analyst inference
Evidence
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