Boeing Exceeded Revenue Expectations in the Third Quarter

Boeing (BA) reported its third-quarter revenue at $23.27 billion. This figure surpassed the market expectation of $22.29 billion. However, the company's financial results are overshadowed by a $4.9 billion liability related to delays in the certification of the 777X jet. Additionally, Boeing reported a much worse-than-expected loss for the quarter, announcing a loss of $7.47 per share. Expectations were at $4.44.

Gabelli Funds Portfolio Manager Tony Bancroft shares an optimistic view on Boeing's projections within the Gabelli Commercial Aviation and Defense ETF (GCAD). Bancroft has a hopeful outlook for Boeing under the leadership of CEO Kelly Ortberg.