Boeing had another weak quarter and failed to meet Wall Street expectations with respect to revenues as well as earnings. The company managed over $3 billion in free cash flow driven by the progress in its performance and continued demand. On the market side, the company saw a decent demand. The management claims that its product is stabilizing, the fleet has been performing well, and the 737 MAX has made tremendous progress. It delivered 45 Artemis I aircrafts this quarter, including the foremost P-8 to New Zealand, and three satellites, including two O3b mPOWER units. Boeing has a strong pipeline of development programs, and it has been preparing itself for the next generation of products. Challenges remain, but the company appears to be on its way to restoring its financial and operational strength prior to its MAX moment. Orders of 787 were strong in the last quarter, and 100 airplanes have been added to the accounting quantity increasing the company’s gap program margin. We provide the stock of Boeing with a ‘Hold’ rating with a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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