NYSE$BA

Boeing · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Boeing's financial results were significantly impacted by COVID-19 and the 737 MAX grounding. The company proactively managed liquidity and transformed for the future.

Boeing reported a third-quarter revenue of $14.1 billion, with a GAAP loss per share of ($0.79) and a core loss per share (non-GAAP) of ($1.39). The results reflect lower commercial deliveries and services volume primarily due to COVID-19. Boeing recorded an operating cash flow of ($4.8) billion.

  • Financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding.
  • Proactively managing liquidity and transforming for the future.
  • Revenue of $14.1 billion, GAAP loss per share of ($0.79) and core (non-GAAP)* loss per share of ($1.39).
  • Total backlog of $393 billion, including more than 4,300 commercial airplanes

Headline financials

Total Revenue

$14.1B

Previous: $20B-29.2%
EPS (adj)

-$1.39

Previous: $1.45-195.9%
Commercial backlog

$313B

No prior period
Defense backlog

$62B

No prior period
Services backlog

$17B

No prior period
Commercial deliveries

28

Previous: 62-54.8%
Capital Expenditures

-$1.04B

Previous: -$1.39B+25.2%
Free Cash Flow

-$1.49B

Previous: -$220M-575.9%
Net Income

-$449M

Previous: $1.17B-138.5%
Operating Income

-$401M

Previous: $1.26B-131.9%
Gross Profit

$1.03B

Previous: $3.05B-66.1%
Cash & Equivalents

$10.6B

Previous: $9.76B+8.2%
Total Assets

$161B

Previous: $133B+21.6%
Stock-Based Comp

$50M

Previous: $56M-10.7%

Revenue & EPS history

Boeing · Revenue · Quarterly

$14.1B

Q3 2020-29.2%vs Q3 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Boeing · $14.1B total across 3 segments · Q3 2020

  • Defense, Space & Security
    $6.85B-2.2%
  • Global Services
    $3.69B-20.7%
  • Commercial Airplanes
    $3.6B-56.4%

Forward guidance

Boeing expects to continue lowering overall staffing levels through natural attrition as well as voluntary and involuntary workforce reductions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2020

Historical avgQ3 2020

+0.4%

Avg return

Earnings day

-0.3%

Avg return

5 days after

+2.6%

Avg return

30 days after

51%

37 / 73 earnings

Positive

+13.4%

Q2 2017

Best reaction

-7.8%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.9%+5.6%+0.0%
Q4 2025-1.7%-5.9%-7.7%
Q3 2025-4.4%-8.4%-15.4%
Q2 2025-4.4%-6.1%-0.1%
Q1 2025+6.0%+12.2%+24.5%
Q4 2024+1.5%+0.8%-0.8%
Q3 2024-2.9%-5.7%-6.6%
Q2 2024-4.6%-10.6%-7.0%
Q1 2024-1.4%+2.5%+3.2%
Q4 2023+4.7%+3.1%-0.2%
Q3 2023-1.8%-0.0%+20.6%
Q2 2023+9.2%+11.5%+4.3%
Q1 2023+1.9%+0.8%+0.7%
Q4 2022+0.4%-1.1%-6.5%
Q3 2022-4.7%-2.8%+21.6%
Q2 2022+2.0%+8.4%+5.5%
Q1 2022-7.7%-11.0%-20.8%
Q4 2021-7.0%-1.9%-1.3%
Q3 2021-0.9%+2.3%-5.1%
Q2 2021+4.2%+1.4%-0.2%
Q1 2021-2.7%-3.0%+1.9%
Q4 2020-2.4%-3.1%+4.9%
Q3 2020-4.5%-4.3%+39.5%
Q2 2020-5.2%-5.0%+2.9%
Q1 2020+7.4%+0.1%+11.1%
Q4 2019+2.1%-0.2%-13.1%
Q3 2019+2.2%+1.2%+10.2%
Q2 2019-6.7%-8.8%-4.6%
Q1 2019+2.3%+1.3%-5.1%
Q4 2018+5.7%+8.8%+20.7%
Q3 2018+3.9%-4.1%-10.8%
Q2 2018+0.3%-2.0%-2.5%
Q1 2018+4.2%+1.4%+9.4%
Q4 2017+5.7%-2.6%+2.1%
Q3 2017-2.5%-2.5%-0.0%
Q2 2017+13.4%+14.1%+11.0%
Q1 2017-0.2%-0.6%+1.7%
Q4 2016+5.3%+3.1%+10.5%
Q3 2016+3.1%+2.5%+7.9%
Q2 2016-1.4%-1.2%-1.9%
Q1 2016+1.2%
Q4 2015-7.8%
Q3 2015+5.3%
Q2 2015+0.8%
Q1 2015-2.3%
Q4 2014+11.5%
Q3 2014-4.0%
Q2 2014-4.1%
Q1 2014+1.8%
Q4 2013-7.7%
Q3 2013+5.3%
Q2 2013-1.0%
Q1 2013+4.0%
Q4 2012+0.3%
Q4 2011-1.8%
Q3 2012-1.8%
Q2 2012+4.0%
Q1 2012+1.1%
Q3 2011+5.9%
Q2 2011+0.7%
Q1 2011+0.3%
Q4 2010-0.1%
Q3 2010+3.5%
Q1 2009-2.0%
Q2 2010-2.0%
Q1 2010-0.7%
Q4 2007+2.3%
Q4 2009+2.3%
Q3 2009-1.6%
Q3 2008-1.6%
Q2 2009-2.5%
Q2 2008-2.5%
Q4 2008-2.5%

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