智通财经APP获悉，波音(BA.US)以 47 亿美元收购Spirit AeroSystems(SPR.US)的交易，在经过初步调查 后，已获得英国反垄断监管机构的批准。英国竞争与市场管理局在周五的一份公告中表示，该机构决定 不对这笔交易进行更深入的调查。该监管机构并未立即公布其批准该交易的决定所依据的理由。 Spirit AeroSystems一位发言人于周五表示："波音收购事宜的推进工作仍在继续，预计将于 2025 年第四 季度完成。" 一旦交易完成，这将使这两家公司得以重新合并。此前，由于需要削减成本，Spirit AeroSystems曾被分 拆出去。此次交易将使这家为 737、787 梦想客机以及其他商用飞机提供关键零部件的供应商重新回到 波音公司旗下。 作为此次交易的一部分，波音的主要竞争对手空中客车公司也将接管Spirit AeroSystems的一部分业务， 这些业务为欧洲飞机制造商生产零部件。 去年 7 月，波音公司同意以每股 37.25 美元的价格购回Spirit AeroSystems，这是一笔全股票交易，使该 供应商的估值达到 47 亿美元。整个交易的总价值为 83 亿美元，其中包括净 ...

Core Insights - Boeing Co. reported a wider-than-expected loss in Q2, despite strong revenue growth driven by a significant increase in commercial aircraft deliveries and a growing order backlog [1][4] - Analysts maintain a positive outlook on Boeing, citing solid delivery momentum, a strong backlog, and improving cash flow as reasons for optimism [2] Financial Performance - Boeing's Q2 revenue reached $22.75 billion, exceeding analyst expectations, with a 63% increase in commercial aircraft deliveries [4] - The company reported an adjusted loss of $1.24 per share, which was worse than the anticipated $0.94 loss, partly due to a $445 million charge related to a Department of Justice settlement [4] - Free cash outflow was $200 million, significantly better than consensus estimates by over $1 billion [4] Commercial Aircraft Segment - Revenue from commercial airplanes surged 81% year-over-year to $10.87 billion, with 150 commercial jets delivered during the quarter [5] - The backlog increased to $619 billion, including over 5,900 aircraft orders valued at $522 billion [5] Analyst Ratings and Price Forecasts - Goldman Sachs analyst Noah Poponak maintained a Buy rating and raised the price target to $260 from $257, citing stronger-than-expected commercial deliveries and cash flow [3] - Bank of America Securities analyst Ronald J. Epstein also maintained a Buy rating with a price forecast of $260, supported by robust jet demand and improving execution [3] - Other analysts, including RBC Capital and UBS, have also provided positive ratings and increased their price forecasts for Boeing [12][13] Operational Focus - Boeing aims to restore trust, stabilize operations, and meet production targets amid a challenging global environment [11] - The company plans to increase 737 output later this year, reflecting confidence in rising demand for commercial jets [9][11]

Financial Performance - Revenue increased to $227 billion in Q2 2025 from $169 billion in Q2 2024[7] - Core operating margin improved to -08% in Q2 2025 from -65% in Q2 2024[7] - Core loss per share improved to ($124) in Q2 2025 from ($290) in Q2 2024[7] - Free cash flow improved to ($02B) in Q2 2025 from ($43B) in Q2 2024[7] Segment Performance - Commercial Airplanes revenue increased to $109 billion in Q2 2025 from $60 billion in Q2 2024[10] - Commercial Airplanes operating margin improved to -51% in Q2 2025 from -119% in Q2 2024[10] - Defense, Space & Security revenue increased to $66 billion in Q2 2025 from $60 billion in Q2 2024[13] - Defense, Space & Security operating margin improved to 17% in Q2 2025 from -152% in Q2 2024[13] - Global Services revenue increased to $53 billion in Q2 2025 from $49 billion in Q2 2024[16] - Global Services operating margin increased to 199% in Q2 2025 from 178% in Q2 2024[16]

Analysts on Wall Street project that Boeing (BA) will announce quarterly loss of -$1.47 per share in its forthcoming report, representing an increase of 49.3% year over year. Revenues are projected to reach $21.86 billion, increasing 29.6% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahea ...

Core Insights - Boeing is experiencing steady momentum in its 737 and 787 programs, overcoming typical seasonal slowdowns and an initially sluggish start [1] - Bank of America Securities analyst Ronald J. Epstein maintains a Buy rating on Boeing with a price target of $260, indicating confidence in the company's delivery and production trajectory [1] 737 Program - By mid-July, Boeing delivered 10 737s, which aligns with its usual monthly cadence, with expectations for acceleration in the second half of the month [2] - Epstein projects at least 30 737 deliveries for July, following a rate of 38 in June, despite potential seasonal slowdowns in July and August [4] 787 Program - The 787 program is performing well, with four deliveries completed by mid-July, and Epstein expects total deliveries to reach eight or nine units, potentially matching the year-to-date high of nine [4][5] - Three 787s have already been rolled out in July, with an anticipated total of six, in line with Boeing's plan to transition to a production rate of seven this year [5] Market Activity - There is a positive shift in activity from China, with two aircraft reactivated and more pre-delivery flights occurring, leading to three deliveries to China in July, with potential to reach six by month-end [3]

Group 1 - Boeing is experiencing strong momentum in its commercial airplane business, with 150 deliveries in Q2 2025, a 63% increase from the same quarter last year, primarily driven by higher 737 shipments [1][7] - Compared to Q1 2025, Boeing's deliveries increased from 130 aircraft, reflecting a year-over-year growth of 56.6%, largely due to a rise in wide-body jet shipments [2] - The increase in aircraft deliveries is expected to enhance Boeing Commercial Airplane's revenues and profit margins, contributing to positive operating cash flow and strengthening financial recovery [3][7] Group 2 - Boeing's delivery growth in the first half of 2025 faces competition from Airbus, which delivered 306 aircraft compared to Boeing's 280 during the same period [4] - Embraer also reported solid delivery figures, with 30 aircraft delivered in Q1 2025, up from 25 in Q1 2024 [5] - Boeing's stock has risen 18.9% over the past year, outperforming the Zacks aerospace-defense industry's growth of 17.7% [6] Group 3 - Boeing is currently trading at a forward 12-month sales multiple of 1.82X, which is approximately an 18% discount compared to the industry average of 2.22X [8] - The Zacks Consensus Estimate for Boeing's earnings per share for 2025 has improved over the past 60 days, while the estimate for 2026 has declined [9]

Core Insights - Boeing announced significant program deliveries for both commercial and defense operations in the second quarter of 2025, with detailed financial results to be released on July 29 [1]. Commercial Airplanes Programs - In the second quarter of 2025, Boeing delivered a total of 150 commercial airplanes, with the breakdown as follows: - 737: 104 deliveries - 767: 9 deliveries - 777: 13 deliveries - 787: 24 deliveries - Year-to-date, total commercial airplane deliveries reached 280 [1]. Defense, Space & Security Programs - Boeing delivered a total of 36 defense, space, and security programs in the second quarter of 2025, with the following details: - AH-64 Apache (New): 2 deliveries - AH-64 Apache (Remanufactured): 10 deliveries - CH-47 Chinook (Renewed): 5 deliveries - F-15 Models: 3 deliveries - F/A-18 Models: 4 deliveries - KC-46 Tanker: 5 deliveries - MH-139: 4 deliveries - P-8 Models: 1 delivery - Commercial and Civil Satellites: 2 deliveries - Year-to-date, total defense program deliveries reached 62 [1].

Group 1: Airbus A330-900 Order - Airbus SE secured a firm order from Malaysia Aviation Group for 20 A330-900 widebody commercial aircraft, enhancing its commercial aircraft backlog and future revenue prospects [1][8] - The A330-900, powered by Rolls-Royce Trent 7000 engines, can fly up to 7,350 nautical miles (13,334 km) and is designed to reduce fuel consumption and CO2 emissions by 25% compared to previous generation aircraft [2][8] Group 2: Market Demand and Growth - Rising air passenger traffic and demand for fuel-efficient aircraft are driving growth in the commercial aviation market [3] - Airbus expects the global passenger fleet to nearly double from 2025 to 2044, with a demand for 43,420 new commercial jets, translating into significant revenue growth [4][8] - In Q1 2025, Airbus' commercial aircraft activities generated a 4% year-over-year revenue growth, with a Zacks Consensus Estimate suggesting a 12.9% annual improvement in 2025 revenues [4][5] Group 3: Competitors and Industry Outlook - Other aerospace companies like Boeing, Embraer, and Textron are also expected to benefit from rising jet demand, with Boeing's long-term earnings growth rate at 18.1% and a 25.6% improvement in 2025 sales [6][7][9] - Embraer, the third-largest commercial aircraft manufacturer, has a 15.4% improvement forecast for 2025 sales, while Textron has a long-term earnings growth rate of 10% [7][9] Group 4: Stock Performance - Over the past six months, Airbus shares have increased by 26.8%, outperforming the industry's growth of 21.4% [10]

Core Insights - Airbus SE secured a firm order from Riyadh Air for 25 A350-1000 aircraft, with the potential for an additional 25, enhancing its global position in the A350 market and expected to boost future revenues once deliveries commence [1][9] Group 1: Airbus A350 Features and Demand - The A350 family offers the longest-range capability among commercial airliners, achieving at least 20% fuel savings and reducing CO2 emissions, with a goal of operating on 100% Sustainable Aviation Fuel (SAF) by 2030 [2][9] - The A350 has received over 1,390 firm orders from more than 60 customers globally, with 657 aircraft currently in service as of May [3] Group 2: Market Growth and Revenue Projections - Rising air passenger traffic and demand for fuel-efficient aircraft are driving growth in the commercial aviation market, with Airbus forecasting a demand for 43,420 new aircraft deliveries over the next 20 years [4][5] - In 2024, Airbus reported a 6% year-over-year revenue growth from commercial aircraft activities, supported by a 4.2% increase in deliveries [5][6] - The Zacks Consensus Estimate predicts a 10.4% annual revenue improvement for Airbus in 2025 and 2026, indicating continued growth [6] Group 3: Competitor Insights - Boeing, a major competitor, has a long-term earnings growth rate of 18.1% and is expected to see a 25.6% improvement in 2025 sales [7][8] - Embraer, the third-largest commercial aircraft manufacturer, has an average earnings surprise of 150.60% over the last four quarters, with a projected 15.9% sales improvement in 2025 [8] - Textron, known for business jets, has a long-term earnings growth rate of 10% and a 6.6% sales improvement forecast for 2025 [10] Group 4: Stock Performance - Over the past year, Airbus shares have increased by 16.1%, outperforming the industry growth of 14.5% [11]

Market Dominance & Competition - Airbus has surpassed Boeing in market dominance, holding a significant lead in aircraft backlog [1][2] - Airbus's total backlog is 8726 aircraft compared to Boeing's 5643, representing billions of dollars in revenue and approximately 13 years to fulfill [3] - Airbus has delivered more planes annually than Boeing since 2019 [3] - The Airbus A320 family has surpassed the Boeing 737 in total orders, potentially becoming the most produced jet family in history [5][30] - Boeing dominates the widebody market with nearly 56% of the global fleet [25] Airbus A321neo Impact - The Airbus A321neo is a key factor in Airbus's market share, leading to an estimated 60-65% market share in deliveries, orders, and backlog [36] - Airlines are increasingly adopting the A321neo for its fuel efficiency and longer range capabilities [35] - Boeing lacks a comparable aircraft to the A321neo, giving Airbus a competitive advantage [37] Boeing's Challenges - Boeing has faced significant financial losses, manufacturing issues, and production limitations, including the grounding of the 737 Max eight [4][3] - Boeing's 737 Max production has been capped at 38 planes per month since January 2024 [40] - Boeing experienced an annual loss of $11.8 billion in 2024 [33] Future Outlook & Potential Disruptors - The industry anticipates new aircraft technologies, engines, and designs in the second half of the next decade [47] - China's Comac and Brazil's Embraer are potential competitors that could disrupt the Airbus-Boeing duopoly [51][52] - Tariffs and potential recessions could pose challenges to the globalized jetliner industry [43]