Boeing deliveries of the 737 Max will fall short of the company’s 2026 target of 500 jets, and a planned production increase will arrive later than expected. Shares fell as much as 10% to an 18-month low on October 27.

Key Takeaways

  • Boeing now expects to reach a production rate of 52 737 jets a month in the second half of 2027, rather than by the end of 2026.
  • The commercial aircraft division posted a $697 million third-quarter loss, while companywide free cash flow reached $464 million.

Boeing deliveries and production plans

Boeing did not provide a revised 737 Max delivery figure in the information available. It also expects 787 Dreamliner deliveries to be near the lower end of its guidance.

The company currently produces 47 737 jets a month. Its revised timetable pushes the planned increase to 52 a month into the second half of 2027.

Chief Executive Kelly Ortberg told analysts that executing the production ramp correctly mattered more than the particular month in which Boeing reached a new rate. He said the company continued to face engine and supply-chain constraints.

Cash flow and aircraft outlook

The commercial airplane division’s $697 million third-quarter loss was substantially smaller than its loss a year earlier. Boeing’s free cash flow for the quarter was $464 million.

Boeing expects to generate about $2 billion in free cash flow in 2026, $3 billion in 2027 and $10 billion by 2029. Those figures are company expectations, not results already achieved.

The company reiterated plans to begin 777-9 deliveries in 2027. The program is running about six years behind schedule.

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