Boeing (NYSE:BA) for 737 Max aircraft deliveries this year, but BA stock is not reacting too badly as a result. The company blamed the cut on unnamed .
BA stock was up 3% in pre-market trading, although shares are now down less than 2% as of this writing. The company’s market capitalization is $107 billion on expected 2023 revenue of $73.6 billion.
For the third quarter, Boeing reported a loss of $1.63 billion, or $2.70 per share, on . The company also reaffirmed guidance on earnings and cash flow. Boeing predicts that it will deliver between 375 and 400 737 Max planes this year, along with 70 to 80 787 planes. It ended the quarter with $13.4 billion in cash and $52.3 billion in debt.
BA Stock: A Strong Defense
Boeing’s status as the helped offset any disappointment on its commercial jet deliveries. It has a large backlog and its only problem is delivering the orders. Indeed, Boeing is one of America’s biggest exporters and recently .
The company received orders for in September. United Airlines (NASDAQ:UAL), Air Canada (OTCMKTS:ACDVF) and Ryannair (NASDAQ:RYAAY) all placed big orders with Boeing . The company delivered in total during the quarter.
Analysts insist Boeing’s problems are and expect strong growth in the next few years. They see 737 Max production increasing to 50 planes per month, 787 deliveries to 10 per month and 777 deliveries to 4 per month, .
TipRanks lists 18 analysts following Boeing, with 12 telling clients to buy BA stock, six saying hold and .
What Happens Next?
Revenue and earnings may be rising, but Boeing will have to pay big when it comes time to refinance that debt. Boeing in 2020, turning down a government bailout.
On the date of publication, Dana Blankenhorn did not hold (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.
