Each week, Airforce Technology’s journalists pick out insights from company filings that highlight sentiments in our sector. These filings signals are based on GlobalData’s analysis of earnings statements, call transcripts, investor presentations and sustainability reports. They tell us about key topics on the minds of business leaders and investors, and the themes driving a company’s activities.
This new, thematic filings coverage is powered by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
Ahead of the highly anticipated earnings announcement (10:30am EST) 26 July, Boeing Co has seen a 0.37 increase in positive sentiment during Q2, GlobalData research reveals.
This represents the largest gain among international aerospace and defence companies, based on filings and transcript analysis.
Boeing is under pressure to post improved results. The world’s largest aerospace provider – which manufactures nearly half of all jetliners – saw a 17.44% decrease in net income from 2021 to 2022.
Market volatility, deal-making and plane crashes
With year-on-year net profit also decreasing by 9.78%, experts have had difficulty predicting Boeing’s overall earnings since a series of high-profile groundings and crashes.
Earlier this month, a coroner ruled that the 157 passengers on board the Boeing 737 Max – which crashed shortly after take-off from Addis Ababa, Ethiopia in 2019 – were unlawfully killed.
Along with high inflation and supply chain disruption, years and considerable funds spent by Boeing to fix the sensor-related malfunctions have eroded profits.
Getting the public back on-board, figuratively and literally, has been one issue. Regaining private sector trust has been another. Amid the volatility of Boeing stock. Shares have ranged from roughly $113 to $241 over the past two years.
Today’s Q2 earning announcement
Deal-making has been the primary response tactic. On 24 July, Boeing was granted a $393m contract to supply and deliver Apache AH-64E aircraft for the US, Egyptian and Kuwaiti armies. Boeing also has plans to build a new aerospace program in St. Louis County, creating 500 jobs.
However, investors are expected to heavily scrutinise whether a recent labour deal reached by Spirit AeroSystems – a key fuselage supplier for Boeing – could raise aircraft production costs ahead of today’s financial results.
Dave Calhoun, Boeing’s President and CEO, preferred to cement an image of dependability. “We delivered a solid first quarter and are focused on driving stability for our customers”, said Calhoun. “Demand is strong across our key markets and we are growing investments to advance our development programs and innovate strategic capabilities for our customers and for our future.”
Boeing Co will announce its Q2 2023 company earnings at 10:30am EST (3:30pm BST).