Boeing cuts 737 Max delivery target as shares sink
In short
Boeing cut its 737 Max delivery target for this year. It also said it wants to raise 737 production to 52 jets a month in the second half of next year.
This matters because the slower recovery hit Boeing’s shares and shows the company is still facing delays. The report does not say how much the delivery target was cut by.
What the reporting says
Boeing cut its 737 Max delivery target for this year and said it aims to raise 737 production to 52 jets a month in the second half of next year. The company also reported a wider-than-expected loss in commercial airplanes, but positive free cash flow, and said 777-9 deliveries should begin next year. The slower recovery and weaker deliveries pressured the stock to an 18-month low.
Why it matters
Boeing lowered its 737 Max delivery target for this year, while saying it plans to raise 737 production to 52 jets a month in the second half of next year. The summary also says Boeing reported a wider-than-expected loss in commercial airplanes, alongside positive free cash flow, and still expects 777-9 deliveries next year. The weaker delivery outlook weighed on the stock.