US Earnings: What to expect from Boeing Co. Q4 results?

[MongiIG]

The Boeing Co. is expected to see improved revenue and earnings over the fourth quarter, although a full year loss is still expected

Source Bloomberg

 

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 Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Saturday 21 January 2023 

When is Boeing’s earnings date?

The Boeing Company, the New York Stock Exchange (NYSE) listed aerospace business will report its fiscal fourth quarter (Q4 2022) and full year (FY22) results on Wednesday the 25th of January 2023.

Boeing Co. results Q4 2022 and FY22 earnings preview, what does ‘The Street’ expect?

A consensus of estimates from Refinitiv data arrives at the following expectations for the Q4 2022 Boeing Co. results:

• Revenue $20.26bn (+37.06% y/y)
• Earnings Before tax Depreciation and Amortization (EBITDA) $1.388bn (+>100% y/y)
• EPS of $0.24 (+ >100% y/y)

 

A consensus of estimates from Refinitiv arrives at the following expectations for the FY22 Boeing Co. results:

• Revenue $66.80bn (+7.25% y/y)
• Earnings Before tax Depreciation and Amortization (EBITDA) -$11.98m (+98% y/y)
• EPS of -$8.88 (+ 5.89% y/y)

How to trade the Boeing Co. results

A Refinitiv poll of twenty-four analysts maintain a long-term average rating of buy for Boeing Co. (as of the 20th of January 2023), with 7 of these analysts recommending a strong buy, 11 recommending a buy, 5 hold, 1 sell and 0 with a strong sell recommendation on the stock.

Source IG

Fifty eight percent of IG clients with open positions on Boeing Co. (as of the 20th of January 2023) expect the share price to rise in the near term, forty two percent of IG clients with open positions on the company expect the price to fall.

Source IG

Boeing Co. - Technical Analysis

The Share price of Boeing looks to have now reversed its longer-term downtrend. This is noted by the price having broken well above trend line resistance.

The share price is currently retracing from overbought territory.

Traders might look for the current pullback from overbought territory to end with a bullish price reversal closer to one of the support levels labelled on our chart, before finding long entry. In this scenario, a close below the reversal low might be used as a stop loss indication for the trade while the 216.50 level provides and initial upside target. A break above this level would consider 235.00 a further longer term upside resistance target.

 

Source IG

In summary

• The Boeing Co. will report its fourth quarter and full year earnings for 2022 on Wednesday the 25th of January 2023
• Revenue of $20.26bn 7.48bn is expected for the fourth quarter
• EPS of $0.24 is expected for the fourth quarter
• 58% of IG clients with open positions on the stock expect the price to rise in the near term
• The share price of Boeing is currently pulling back from overbought territory although does now trade in a longer-term uptrend