Get ready to see plenty of the usual aviation-related play on words when you read about Boeing's second-quarter earnings on Wednesday morning.



I can see the headlines now.

"Boeing 2Q earnings soar"

"Aviation giant reports lofty numbers"

"Dreamy profits for maker of Dreamliner"

What to expect in 2Q

The Thomson Reuters consensus calls for Boeing to post second-quarter earnings per share of $1.57, up 24 percent from year ago on $20.73 billion in revenue, up 4 percent last year.

Boeing will also update its full-year earnings guidance on Wednesday. The current estimate on Wall Street is for the company to earn $6.50 per share.

Despite all the headlines about issues with the 787, the steady increase in production and deliveries of the Dreamliner underlines the strength in commercial planes.

(Read more: 787 fire: Investigators focus on key component)