Boeing Will Probably Report First Profit in Six Quarters

The Boeing Co. (BA), the second-largest aircraft manufacturer in the world by market capitalization, will probably report its first profit in six quarters as revenue growth accelerates amid rebounding deliveries of commercial jets such as its 787 Dreamliner.

Boeing is likely to post adjusted earnings per share (EPS) of $0.11 compared with a loss per share of $0.60 for the prior-year quarter. It would be Boeing’s first profit since the second quarter of last year. Revenue is expected to rise 18% year-over-year to $18 billion, the largest increase in six quarters, according to an average estimate from Visible Alpha. Boeing will release results before the market opens on Oct. 26.

Demand for commercial jets plunged during the pandemic as supply chain bottlenecks and quality control problems delayed manufacturing and deliveries. The company restarted 787 deliveries in August after more than a year of delays as the company made manufacturing changes to meet U.S. regulatory standards. The recovery of global air travel also fueled demand for Boeing jets.

Boeing said Oct. 11 that its key metric — commercial airplanes delivered — rose 32% to the second-highest in 15 quarters, even though it missed estimates.

Boeing shares have fallen 33% in the last year compared with a 17% drop in the S&P 500 Index.

Boeing Earnings History

Boeing posted a total of $21 billion in net operating losses during the three years through 2021. The company also reported losses in the first two quarters of this year.

Revenue declined in four of the five years through 2020, then rose 7% last year before dropping in this year’s first half.