Airplane manufacturer, Boeing (NYSE: BA) gained altitude in pre-market trading at the time of writing on Wednesday after the company’s adjusted losses widened in Q2 to $0.82 per share versus a loss of $0.37 per share in the same quarter a year back but still narrower than analysts’ estimates of a loss of $0.89 per share.
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The company generated Q2 revenues of $19.8 billion, up by 18% year-over-year and above consensus estimates of $18.59 billion. Boeing generated adjusted free cash flows of $2.6 billion in the second quarter with a total backlog of $440 billion, including over 4,800 commercial airplanes.
BA delivered 136 planes in Q2, up from 121 aircraft during the same period last year, and reaffirmed its 737 airplane production forecast in the range of 400 to 450 airplanes this year.
Looking forward, Boeing reiterated its FY23 guidance and expects operating cash flows in the range of $4.5 billion to $6.5 billion while adjusted free cash flows are likely to be between $3.0 and $5.0 billion.
Analysts are cautiously optimistic about BA stock with a Moderate Buy consensus rating based on 10 Buys and five Holds.
