Company News

BUZZ-Boeing: Loses altitude as profit forecast misses estimates

** Boeing down 3.2 pct premarket after the planemaker’s FY 2018 earnings forecast misses estimates

** BA, the single largest U.S. exporter to China, keeps its FY core EPS forecast unchanged at $14.30 to 14.50

** Analysts avg estimate is $14.56 currently, which is 3.2 pct higher than the $14.11 est when BA reported Q1 results

** BA Q2 EPS tops estimates and co raises its FY revenue forecast, while also keeping its oper cash flow forecast unchanged

** Co slightly raises FY oper margin view on commercial airplanes unit, its largest at ~60% of total sales, to >11.5% from 11.5%

** BA cuts FY oper margin forecast for defense unit, its 2nd biggest; keeps forecast on margins for global services unit

** BA trades at 22.2x next 12-mth earnings, higher than all peers expect Bombardier (26.2x), while Airbus trades at 20.4x; other defense firms trade between 14.8x and 18.3x

** YTD, BA has gained 21.5%, 3rd most among Dow Industrials , but less than Airbus (27.7%) and Bombardier (58.4%) (Reporting by Savio D’Souza)