Shares of Boeing Co. got a nice boost Wednesday, after the aerospace and defense giant reported revenue that beat expectations for a third-straight quarter, even as losses were once again wider than Wall Street forecast. Investors were also comforted as Boeing affirmed its full-year guidance for free cash flow and for 787 deliveries, but cut is outlook for 737 deliveries as recent quality issues have led to delivery delays.
“We continue to progress in our recovery and despite near-term challenges, we remain on track to meet the financial goals we set for this year and for the long term,” said Chief Executive Dave Calhoun. The stock
jumped 3.1% in premarket trading, putting it on track for a third-straight gain. The win streak comes as the stock closed Friday at a 10-month low. Net losses narrowed to $1.64 billion, or $2.70 a share, from $3.31 billion, or $5.49 a share, in the same period a year ago. Excluding nonrecurring items, core per-share losses of $3.26 were wider than the FactSet loss consensus of $3.20. Revenue grew 13.5% to $18.10 billion, above the FactSet consensus of $18.02 billion. While revenue has beat expectations the past three quarters, Boeing has now missed bottom-line expectations in eight of the past nine quarters, and hasn’t reported an adjusted profit since the second quarter of 2021, according to FactSet data. Among Boeing’s business segments, commercial airplanes revenue rose 25.0% to $7.88 billion, above the FactSet consensus of $7.49 billio …