Boeing slides about 9-10% to near $171 after saying 737 MAX deliveries will fall short of its 500-jet 2026 target
Boeing shares reversed early gains and fell roughly 9-10% after management said on its Q3 call that the slower move to a stable 47-a-month 737 rate will leave 2026 deliveries short of about 500 jets.
Boeing (BA) opened slightly higher after its Q3 report, then turned sharply lower once its earnings call began at 10:30 a.m. ET.
| Item | Figure |
|---|---|
| Share move (late morning) | about -9% to -10%, near $171 (prior close $188.31) |
| 737 deliveries, Q3 | 124 |
| 2026 737 target | about 500, now out of reach |
| 2026 free cash flow outlook | about $2B |
| 2027 free cash flow outlook | about $3B ($6B in 2028, $10B in 2029) |
| Next 737 rate step | 52 a month, targeted for 2H 2027 |
What changed: CEO Kelly Ortberg said proving performance at 47 a month is taking longer than expected and should not be fully stable until next year. Supplier disruption on the 777 freighter and 767 tanker lines will also weigh on margins in Q4 and the first half of 2027.
Why it matters: the 737 is Boeing’s cash engine, so a slower ramp pushes back debt reduction and the point where Commercial Airplanes turns profitable. The multi-year cash flow path gives investors a yardstick, but it rests on 777X certification by mid-2027 and an early KC-46A order.
For context, this follows the morning results post (Boeing Q3 results), which covered the headline numbers before the call.
Next: program-level 2027 delivery detail is due in January; 737-7 and -10 deliveries are expected to begin early next year. Track large-cap movers at /en/markets/local/.
Sources
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