Boeing Reports Q2 Earnings Miss

Boeing BA reported quarterly losses of $5.82 per share, which may not compare to the analyst consensus estimate of $1.80. This would be a 274.77% decrease over earnings of $3.33 per share from the same period last year.

The adjusted Q2 EPS figure came in at $2.92

The company reported quarterly sales of $15.75 billion, which missed the analyst consensus estimate of $20.32 billion by 22.49%. This is a 35.07% decrease over sales of $24.258 billion the same period last year.

Boeing said previously-issued 2019 guidance does not reflect 737 MAX impacts and it will issue new guidance at a future date.

"This is a defining moment for Boeing and we remain focused on our enduring values of safety, quality, and integrity in all that we do, as we work to safely return the 737 MAX to service," said Boeing Chairman, President and CEO Dennis Muilenburg. "During these challenging times, teams across our enterprise continue to perform at a high level while delivering on commitments and capturing new opportunities driven by strong, long-term fundamentals."

Boeing shares are trading at around $371 Wednesday morning. The stock has a 52-week high of $446.01 and a 52-week low of $292.47.

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Photo credit: Jeff Hitchcock, Wikimedia