Boeing Co. (NYSE:BA) stock shot up to all-time highs in the wake of impressive second quarter results on July 26. It has been one of the biggest factors in the Dow Jones’ drive to a remarkable 22,000. The company added $1.5 billion to its operating cash flow forecast in 2017 – the overall now at $12.25 billion. Boeing reported a profit of $1.76 billion – representing $2.89 per share. This in comparison to a loss of $234 million, $0.37 per share, in Q2 2016. Revenue fell to $22.74 billion – a decrease of 8.1%.
Chief executive officer Dennis Muilenburg said that Boeing was committed to cost-cutting and improving efficiency in order to invest in innovation. The company is moving closer to the manufacture of its middle-of-the-market commercial plane, and Muilenburg said that a final decision was coming soon. The plane would complement the single-aisle 737 and twin-aisle 787 Dreamliner models. If it is approved the program is likely to kick into gear by 2020.
Boeing also won a $409 million contract to develop innovative technologies with the United States Air Force. The technology would be for next-generation thermal, power, and controls, which makes up a larger government commitment to innovation.
As of the morning of August 4 Boeing stock is trading at $237.38 – down 0.37%. This is off of the all-time high reached in light of earnings of $246.49. The stock offers a dividend of $1.42 per share – with a dividend yield of 2.39%.
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