Boeing Stock Plummets as Production Delays Weigh on Earnings

Boeing's stock plummeted by as much as 6% on Wednesday after Chief Executive Kelly Ortberg admitted that stabilizing production of the 737 MAX at 47 jets per month was taking longer than expected.

The slower-than-anticipated ramp-up, combined with delivery lumps on the 787 Dreamliner, makes it less likely for Boeing to hit its free cash flow guidance of $1 billion to $3 billion in 2026.

Chief Financial Officer Jay Malave said the company is now more likely to land around the midpoint of $2 billion rather than reaching the top of the range.

The certification timeline for two long-delayed aircraft programs also received mixed signals from Ortberg. The 737-10, Boeing's primary competitive response to Airbus's A321neo, is expected to receive regulatory approval 'very soon', but the smaller 737-7 received certification earlier this year.