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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Specialty Materials: A Tale Of Two Alloys – A Review Of Quarterly Survey Results And Market Trends

By Chris D. Olin Published on January 1, 2022 at 4:37 AM

We collected several data points throughout the specialty materials survey process but could not confidently identify a main theme for this update report. Channel crosscurrents, a less-aggressive aerospace outlook, and modest erosion in contact sentiment could be interpreted as mixed-to-negative indicators for the entire peer group heading into the 4Q earnings period. We are not expecting many companies within our coverage universe to meet/beat near-term expectations, but there are still a few names worth holding through any period of market turbulence, including the upstream alloy producers that appear to be positioned to take market share in CY22. Continue reading

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