Boeing Stock Price News - Google Finance
Why Boeing Stock Is Soaring
June 26, 2021 at 4:44 pm
Boeing Co. (BA) stock has outperformed the market in May, and there are a few reasons why. First, the company has been benefiting from increased demand for air travel as the economy recovers from the COVID-19 pandemic. Second, Boeing has been making progress in resolving the issues that have plagued its 737 MAX aircraft. Finally, the company has been taking steps to improve its financial performance, including reducing costs and selling non-core assets.
June 24, 2021 at 10:48 am
Boeing stock is up over 5% in premarket trading today after the company reported better-than-expected earnings for the first quarter of 2021. The company reported earnings per share of $2.11, beating analysts' estimates of $1.92. Boeing also reported revenue of $17 billion, which was also above analysts' expectations of $16.5 billion.
The strong earnings report is a sign that the company is making progress in its recovery from the 737 MAX crisis. The company has now delivered over 100 of the 737 MAX aircraft to customers, and it expects to deliver more than 300 of the aircraft this year.
In addition to the strong earnings report, Boeing also announced today that it is increasing its production rate for the 737 MAX. The company will now produce 31 of the aircraft per month, up from 26 per month previously.
The increased production rate is a sign that Boeing is confident in the demand for the 737 MAX. The company has received over 1,100 orders for the aircraft, and it expects to deliver over 1,000 of the aircraft by the end of 2023.
Overall, the strong earnings report and the increased production rate for the 737 MAX are both positive signs for Boeing stock. The company is making progress in its recovery from the 737 MAX crisis, and it is well-positioned to benefit from the recovery in the air travel market.
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