Boeing Reports Record $745 Billion Backlog Amid Production Delays and Earnings Miss
Boeing (BA) reported mixed third-quarter results, featuring a record order backlog of $745 billion but an adjusted loss per share of $0.34, missing Wall Street's expectation of $0.21. While revenue reached $24.2 billion—surpassing estimates—the stock fell approximately 10.7% following management's guidance regarding production stability. CEO Robert Kelly Ortberg indicated that the company is struggling to reach its target production rate of 47 aircraft per month for the 737 Max family, with full stability not expected until next year. Furthermore, the goal of reaching a stability rate of 52 has been pushed back to the latter half of 2027. Despite these hurdles and lowered free cash flow projections for 2029, Boeing secured a $20 billion U.S. Navy contract and received FAA certification for the 737 Max 10.
Tickers: $BA
Topics: earnings miss order backlog production stability revenue beat stock price drop
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Part of the story Boeing Reports Record $745 Billion Backlog Amid Production Delays and Earnings Miss (5 articles)