The Boeing Company ( NYSE:BA ) reported a significant in the third quarter of 2022, a net loss and investors were disappointed, as evidenced by the company’s stock price drop on the day of the earnings announcement. However, I do not believe Boeing is a Sell after earnings. Boeing had some bright spots in the quarter, and I have high hopes for the company regarding cash flow generation and deleveraging in the long term. As a result, in my opinion, a Hold rating rather than a Sell rating is more appropriate for Boeing stock .
What Were Boeing’s Earnings Expected to Be?
Before Boeing released its Q3 2022 results , Wall Street analysts predicted that the company would earn $0.07 per share in normalized earnings.
In other words, the market expected Boeing to turn around its net losses per share of -$2.75 and -$0.37 in the first and second quarters of 2022, respectively, and deliver positive earnings in the third quarter of this year. However, as discussed in the following section, sell-side analysts and investors were eventually disappointed.
Did Boeing Outperform Earnings?
On October 26, 2022, Boeing released its financial results for the third quarter of the current fiscal year. Boeing reported a non-GAAP adjusted net loss per share of -$6.18 in the third quarter of 2022, well below the market’s expectations.
According to Boeing’s Q3 2022 results press release, the critical factor contributing to Boeing’s massive third-quarter bottom-line miss was “$2.8...
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