Boeing last released its quarterly earnings data on the 26 ^th of April 2023. The aircraft producer reported adjusted loss per share of $1.27 for the quarter. The business reported revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.56 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter the prior year.

Boeing has a market capitalisation of $123.68 billion and is expected to release its next quarter earnings report on the 25 ^th – 31 ^st of July 2023. Analysts forecast the EPS to shrink to -$0.86 per share this quarter, down 116.22% from the quarter a year ago. The annual EPS is expected to hit -$1.48 for the year, and then rise to $5.26 for 2024.

The company’s revenue for the June quarter is expected to hit $17.38 billion. The average estimate suggests sales growth for the quarter will likely rise by 4.20% compared to the same quarter in the previous financial year. The most recent consensus estimate is calling for quarterly revenue of $17.67 billion, up 5.92% from the year-ago period, while annual revenue for 2023 is expected to come at $77.7 billion.

Source: TradingView

After reaching a record high of $446 in March 2019 the share price started trading in a down trend. The stock has bottomed at $89 in March 2020 and since then a gradual recovery has taken place. Over the past year the price has rallied from a low of $113.02 to a high of $223.91 reached last week. The medium-term has lost momentum over the past four months and the price has been trading sideways, fluctuating between $192.41 and $223.91.

Despite the stock consolidating recently the Relative Strength Index indicator remains above 40% suggesting that the up trend from the September 2022 low remains intact. The recent attempt to break the consolidation upwards and the sequence of higher lows within the range suggests that the bulls are ramping up momentum.

A decisive break above resistance of $221.33 would confirm a continuation rectangle pattern suggesting further upside over the medium-term is possible. Such potential breakout would signal a potential rise to the 234.00 – 240.00 range.

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