Boeing is definitely on the rebound. The net profits of Boeing (NYSE:BA) jumped to $1.76 billion on earnings. Just last year on the same period, the company lost $234 million. Per CNNMoney, the aircraft manufacturer has beaten the Wall Street’s earnings estimate with a surge in Boeing stocks.
Because of the good results, Boeing pledged to increase its contributions to the retirees’ funds. “If we weren’t performing at the levels we’re at, we wouldn’t have the opportunity to do something like this,” Chief Financial Officer Greg Smith said. The company also announced it will buy back $10 billion worth of stock this year.
Boeing has definitely benefited from its cost-cutting measures which started last year. It has cut about 15,000 jobs in 2016 but things picked up when orders for their jetliners increased. According to The Seattle Times, Boeing got the last laugh over its rival Airbus after it orders for its 787 Dreamliner poured from the Paris Air Show in June. Boeing won 571 sales, which translates to $75 billion, compared to just 336 for Airbus.
The increase in demand for the said Dreamliner puts pressure on Boeing to ramp up its production among its plants in Everett and North Charleston, South Carolina. However, despite the good news for Airbus and Boeing, other aircraft manufacturers such as Mitsubishi and Bombardier of Canada failed to leave a mark during the Paris Air Show.
In an article published by The Chicago Tribune, the surge in sales pushed the free cash flow of Boeing to $4.51 billion. The company shares have increased by as much as 36 percent so far this year alone. Because the cash flow goes back to investors, the Boeing stocks will only get better as time goes by.
With adjusted earnings estimate and increased projected cash flow, Boeing stocks are definitely hot at the moment. In the end, Canaccord Genuity aerospace specialist Ken Herbert could not have said it any better: “You can never argue with cash.”
CrowdFundMe starts the placement of minibonds and prepares its first emissions
The Italian equity crowdfunding portal Crowdfundme, listed on Aim, announced that it is preparing the minibond issues of Hal Service...
Bitcoin volume has increased massively
On June 2nd, the Bitcoin price surprised with a jump above the $10,000 mark. The most recent study published by...
Hyloris will be listed on Euronext Brussels
The Liège-based biotech company, Hyloris created by Stijn Van Rompay has just unveiled its intention to be listed on Euronext...
Naturgy redoubles its efforts in ESG and sets environmental objectives for 2020
Naturgy plans to reduce the CO2 intensity of its electricity generation by 22%. 34% of its generation capacity will be...
Bitcoin miners sell more cryptocurrencies than they generate
According to the on-chain analysis portal ByteTree, Bitcoin miners sold 11% more BTC last week than they generated in the...
Featured7 days ago
Why the Fintech sector in Italy has to be further developed
Crypto7 days ago
The Monero software update is ready to be used by miners
Africa7 days ago
Crowdfunding seen as an innovative post-crisis financing mechanism in Tunisia
Business7 days ago
Beyond gaming: how real-life applications put virtual reality and Zadar Ventures Ltd. into the spotlight