Boeing Company (BA): Lowering Estimates Ahead Of The CY4Q Earnings Update

By Chris D. Olin Published on January 23, 2022 at 2:03 AM

We are lowering estimates on The Boeing Company (BA) ahead of the 4Q21 earnings release scheduled for Wednesday, January 26, focusing on the downward bias to current BCA segment expectations. Upon final review monthly aircraft delivery reports, the recent commentary provided by airline industry executives, and feedback collected from the aerospace supply channel, we still see near-term earnings shortfall risk over the next 2-3 quarters and expect the executive management team to temper commercial aircraft delivery expectations for CY22 Continue reading

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Boeing Company (BA): Communicating A More Conservative 787 Production Recovery Timeline; But Talking Up 777

By Chris D. Olin Published on December 20, 2021 at 8:31 AM

We updated The Boeing Company (BA) model today, reacting to some of the information/thoughts shared by industry contacts following a supplier conference call held late last week. Bottom-line, while the management team formally pushed out 787 aircraft recovery expectations by roughly 6-7 months (as expected), the net-change to the production schedule did not reach worst-case scenario levels that had been speculated by certain company executives. This, combined with a modestly improved 777 program outlooks, resulted in a slight increase to our CY22-23 estimates. Continue reading

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Boeing Company (BA): We See Increasing Risk To Commercial Aircraft Delivery and Production Forecasts

By Chris D. Olin Published on December 9, 2021 at 7:59 PM

We are lowering estimates on The Boeing Company (BA) today to reflect lower commercial aircraft delivery assumptions and BCA margin contraction risk. Based on market intelligence collected from aerospace suppliers over the past few days, we believe there is increasing risk to the current 787 and 737 aircraft delivery/production forecasts, which could come into focus over the next few days. Continue reading

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