Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  The Boeing Company    BA

THE BOEING COMPANY

(BA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Canada's CAE sees strong pilot training demand when Boeing MAX jets fly

08/14/2019 | 04:34pm EST

(Reuters) - CAE Inc expects strong demand from airlines for pilot training when Boeing Co's grounded 737 MAX jets are cleared to fly, Chief Executive Marc Parent told analysts on Wednesday, after the Canadian training specialist reported lower-than-expected quarterly earnings.

CAE, the world's largest civil aviation training company, reported higher costs and a near 30% fall in quarterly operating income from its second-largest defense and security business, but said its full-year outlook for fiscal 2020 remains on track.

The shares fell as much as 14% but pared losses to end down 4.6% at C$34.17, giving it a market value of C$9.1 billion ($6.8 billion).

The Montreal-based company, which offers health care and military aircraft training, also sees demand from carriers as air traffic rises and the supply of commercial pilots remains limited.

Boeing's 737 MAX has been grounded since March following two fatal accidents. Southwest Airlines Co and Air Canada have removed the plane from their schedules until January 2020, but there is no firm date for MAX to resume flights.

"Clearly there is going to be a lot of training to be done when the aircraft are cleared so I would see pent up demand there when the airlines start to fly," Parent said.

CAE recorded 47 sales of 737 MAX simulators, with 11 delivered and another 11 to be delivered by December.

MAX simulator sales are driven by plane orders, Parent said, adding that demand was not unusual.

CAE said costs rose with the company's selling, general and administrative expenses up 10% and finance expenses doubling.

CAE reported a weaker-than-expected negative free cash flow of C$102.1 million, compared with an estimated negative cash flow of C$11 million, according to four analysts polled by Refinitiv.

But Chief Financial Officer Sonya Branco said free cash flow was impacted by simulator deliveries, which are under production for delivery later in the year. CAE delivered five simulators during the quarter compared with 12 during the same period last year.

“We expect those to be delivered over the next three quarters, so really, it’s just a question of timing," she said.

CAE's revenue rose 14% to C$825.6 million, but fell short of analysts' expectations of C$845.96 million.

Net income attributable to shareholders fell 11.4% to C$61.5 million ($46.26 million), or 23 Canadian cents per share, in the first quarter of fiscal year 2020 ended June 30.

Analysts on an average had expected 28 Canadian cents per share.

The company raised its quarterly dividend by 10% to 11 Canadian cents per share.

(Reporting by Shanti S Nair in Bengaluru and Allison Lampert in Montreal; Editing by Shailesh Kuber and Marguerita Choy)

By Allison Lampert and Shanti S Nair


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -4.06% 22.92 Delayed Quote.0.66%
AMP LIMITED -0.95% 1.565 End-of-day quote.0.32%
BOMBARDIER INC. 1.69% 0.6 Delayed Quote.25.00%
CAE INC. -6.22% 33 Delayed Quote.-6.44%
MAX CO., LTD. -0.07% 1449 End-of-day quote.0.69%
SOUTHWEST AIRLINES -4.42% 46.66 Delayed Quote.0.11%
THE BOEING COMPANY -2.66% 204.32 Delayed Quote.-1.94%
All news about THE BOEING COMPANY
12:15aBOEING'S OTHER BIG PROBLEM : Fixing Its Space -2-
DJ
12:15aBOEING'S OTHER BIG PROBLEM : Fixing Its Space Program
DJ
01/15BOEING : Updated Boeing Statement on Sriwijaya Air Flight SJ-182
PU
01/15BOEING CO : Change in Directors or Principal Officers, Financial Statements and ..
AQ
01/15Equities End Lower as Biden Unveils $1.9 Trillion Stimulus Plan, Retail Sales..
MT
01/15EU trade official wants swift engagement with Biden on aircraft, digital taxe..
RE
01/15BOEING : Covered to Expand Human Spaceflight
PU
01/15BOEING : Machine learning making light work of AM aerospace alloys
AQ
01/15Prosecutors Credited Boeing for Compliance, Organizational Reforms
DJ
01/15BOEING : Virgin Atlantic Completes $230 Million Boeing 787 Financing Deal
MT
More news
Financials (USD)
Sales 2020 58 375 M - -
Net income 2020 -4 180 M - -
Net Debt 2020 40 011 M - -
P/E ratio 2020 -28,1x
Yield 2020 0,49%
Capitalization 115 B 115 B -
EV / Sales 2020 2,66x
EV / Sales 2021 1,99x
Nbr of Employees 161 100
Free-Float 55,7%
Chart THE BOEING COMPANY
Duration : Period :
The Boeing Company Technical Analysis Chart | BA | US0970231058 | MarketScreener
Technical analysis trends THE BOEING COMPANY
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 226,22 $
Last Close Price 204,32 $
Spread / Highest target 49,8%
Spread / Average Target 10,7%
Spread / Lowest Target -26,6%
EPS Revisions
Managers and Directors
NameTitle
David L. Calhoun President, Chief Executive Officer & Director
Lawrence W. Kellner Non-Executive Chairman
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO & Executive VP-Enterprise Operations
Theodore Colbert Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
THE BOEING COMPANY-1.94%115 345
AIRBUS SE3.09%88 714
TEXTRON INC.3.85%11 487
DASSAULT AVIATION0.61%9 070
AVIC ELECTROMECHANICAL SYSTEMS CO.,LTD.6.99%7 403
AVICHINA INDUSTRY & TECHNOLOGY COMPANY LIMITED32.16%7 160