Boeing (BA) is set to report Q4 results tomorrow before the open (they typically release at 7:30am ET) with a call to follow at 10:30am ET.

The Capital IQ consensus estimate for Q4 core EPS (non-GAAP) is a $(0.19) loss and revenue is expected to grow 9% yr/yr to $16.66 bln.

Historically, BA has guided on an annual basis. That said, BA has suspended guidance due to the pandemic. Whenever BA decides to start providing guidance again, that will be seen by the market as a bullish sign. This is because of two reasons.

1. Visibility

2. They’re unlikely to give guidance when it’s bad.

Boeing’s commercial market demand continues to gain traction. This is fueled (no pun intended) by broad-based vaccine distribution and border protocols beginning to open.

Peak travel days are reaching 80-85% of 2019 levels.

Boeing has already announced deliveries for Q4 on Jan 11 with 99 total for its Commercial Airplanes segment.

There reportedly have been test flights in China of the MAX. The US and Europe have re-certified the MAX to return to the sky, but China remains the main holdout.

Investors will want updates on Boeing's other major commercial airplane programs (777X, 787).

It will also be good to get Boeing's take on its view for commercial aerospace in general. Travel in the US has been increasing, although we will want to hear about the impact of the Omicron variant on travel data.

TECHS:

Last quarter, Boeing reported a larger than expected loss and revenue was a bit light. Boeing has been mostly a coin flip with revenue in recent quarters, so it's tough to know what to expect.

The stock has been in a downward trend since its all time high three nearly years ago. I believe the emergence of the delta and omicron variants plus setbacks with its 787 program have been weighing on the stock a bit as it’s failed to break out twice in the last couple of months. Any update on that front or any unexpected positive input should create a little fomo in the stock.

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