Boeing's Delivery Ramp-Up: Can It Repower the Stock?

Boeing's stock has been lagging behind despite its impressive delivery numbers. In the second quarter of 2026, the company delivered 171 commercial airplanes, its highest quarterly total since 2018, with revenue reaching $24.6 billion, an 8% year-over-year increase.

The production rate is expected to continue growing, with the 737 line ramping up from 42 to 47 planes per month and a new assembly line for low-rate MAX production starting. This should lead to higher delivery numbers, with a record $715 billion total backlog and a commercial backlog of $597 billion covering over 6,200 airplanes.

However, the company's program cash margins on the 737 and 787 are still below breakeven, held down by pricing on older orders. Boeing expects its 737 margins to reach their 2018 levels by the end of the decade.