Boeing (NYSE:BA) stock is flying high on Wednesday as investors react to the company’s earnings report for the second quarter of 2023.
One of the big wins for BA stockholders is the company’s jet deliveries during the quarter. The company was able to boost its 737 production to 38 per month while increasing 787 production to four jets per month. This saw it deliver 136 jets in Q2 2023 as compared to 121 in Q2 2022.
That resulted in Boeing reporting adjusted earnings per share of -82 cents. While that seems bad, it’s better than the -89 cents per share Wall Street was expecting. Even if it’s worse than the -37 cents per share reported in the same period of the year prior.
Adding to this is the company’s revenue of $19.75 billion. That’s another boon to BA stock next to analysts’ revenue estimate of $18.57 billion. It also represents an 18% increase year-over-year from $16.68 billion.
What’s Next For BA Stock?
Dave Calhoun, president and CEO of Boeing, provided the following insight into the company’s plans.
“While we have more work ahead, we are making progress in our recovery and driving stability in our factories and the supply chain to meet our customer commitments. With demand strong, we’re steadily increasing our production rates across key programs and growing investments in our people, products and technologies.”
BA stock is up 3.3% as of Wednesday morning and is up 9.6% year-to-date as of yesterday’s close.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
