Boeing (BA) is gearing up to release its third-quarter 2024 earnings on October 23, and Wall Street analysts anticipate a decline in both revenue and earnings for Q3. They expect Boeing to report a loss of $10.36 per share, greater than the loss of $3.26 per share in the year-ago quarter. Meanwhile, revenues are expected to fall by 1.6% from the year-ago quarter to $17.81 billion, according to data from the TipRanks Forecast page given below.
As we approach Q3, it’s important to highlight that Boeing has missed the consensus EPS estimates in six out of the last nine quarters.
Key Takeaways from TipRanks’ Bulls & Bears Tool
TipRanks’ Bulls Say, Bears Say tool provides insights into analysts’ views of Boeing as the company nears its Q3 earnings report. The bulls are optimistic about the recent workforce reduction, which is expected to save approximately $1.7 billion and potentially boost future earnings. Additionally, the bulls note that the company’s operating cash flow, which recorded use of $1.3 billion in Q3, was better than anticipated, showcasing some financial resilience.
On the flip side, bears point to Boeing’s financial struggles and remain concerned about the ongoing operational difficulties, leading to a sharp decline in deliveries.
Options Traders Anticipate a 5.38% Move
TipRanks’ Options tool offers a quick way to gauge what options traders anticipate from the stock following its earnings report. The expected earnings move is calculated using the at-the-money straddle of the options set to expire closest to the announcement. While this may sound complex, the tool handles the calculations for you.
Currently, it indicates that options traders are predicting a 5.38% swing in either direction.
Is Boeing a Buy, Sell, or Hold?
Turning to Wall Street, Boeing stock has a Moderate Buy consensus rating based on 14 Buys, five Holds, and two Sells assigned in the last three months. At $197.83, the average BA price target implies 23.78% upside potential.
