Will Boeing Stock Take Off On Q2 Earnings — Or Remain Grounded? What Investors Should Know Before The Report

Boeing Co BA is gearing up to report second-quarter earnings this week. Investors will be watching for any signs of a turnaround given the planemaker’s dismal performance year-to-date.

Here’s what you need to know ahead of the print.

What To Know: Boeing is set to report financial results for the second quarter before the market opens on Wednesday. Analysts are anticipating a quarterly loss of $1.76 per share and revenue of $17.266 billion, according to estimates from Benzinga Pro.

Boeing shares have been under pressure this year as the company has faced increased scrutiny ever since a door plug blew out of a 737 Max 9 plane midflight in early January. A series of subsequent flight incidents followed, keeping the attention on Boeing.

Boeing CEO Dave Calhoun said he will step down by the end of the year, given all the challenges the company faced under his leadership.

Last quarter, Boeing beat analyst estimates on the top and bottom lines as the company took comprehensive actions in its commercial business to strengthen quality and safety in response to the flight incidents.

“Our first quarter results reflect the immediate actions we’ve taken to slow down 737 production to drive improvements in quality,” Calhoun said at the time.

“We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future.”

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Boeing already reported second-quarter deliveries. The company said it delivered 70 737 jets in the quarter, bringing total deliveries of the 737 up to 137 year-to-date. Boeing also delivered six 767s, seven 777s and nine 787s in the second quarter.

Earlier this month, Goldman Sachs issued a note calling for improved deliveries and production rates from Boeing moving into the back half of the year. The analyst firm noted recent feedback from suppliers suggested the company was keeping up with its delivery targets.

The S&P also laid out expectations in recent weeks for Boeing production and deliveries to increase in the second half of the year, according to headlines from Benzinga Pro. Boeing said last week that it resumed deliveries of the 737 Max to China.

Here’s a look at other recent analyst changes leading up to Boeing’s second-quarter results:

• Baird analyst Peter Arment maintained Boeing with an Outperform and lowered the price target from $300 to $240.

• Bernstein analyst Douglas Harned maintained Boeing with an Outperform and lowered the price target from $230 to $215.

• UBS analyst Gavin Parsons maintained Boeing with a Buy and lowered the price target from $250 to $240.

• BofA Securities analyst Ronald Epstein maintained Boeing with a Neutral and maintained a price target of $200.

• Deutsche Bank analyst Scott Deuschle maintained Boeing with a Buy and maintained a price target of $225.

BA Price Action: Boeing shares are down about 28% since the start of the year. The stock was up 1.02% at $187.33 at the time of publication Tuesday, according to Benzinga Pro.

Read Next:

• Boeing’s Next CEO? Meet The Four Potential Successors As Dave Calhoun Prepares To Pass The Torch Amid Airplane Maker’s Security Concerns And Increased Scrutiny

Photo: Courtesy of Boeing.