SEATTLE — Boeing will fall short of its 737 production goal of 47 planes a month, CEO Kelly Ortberg advised, until early in 2027, leaving the company at a monthly production capacity of 41 which means the company will not reach its delivery target of 500 jets this year, according to Reuters.
In a CNBC interview today, Ortberg said the uncertainty in Boeing’s financial performance is narrowing.
Boeing delivered 124 737s in the latest quarter–about 41 a month. The company has been trying to bolster the line to 47 a month. Total commercial deliveries came in at 161, one more than a year ago but 10 fewer than in the second quarter.
The company also expects much slower free cash flow growth than investors had expected – $3 billion next year and $6 billion in 2028, compared to Wall Street analysts’ consensus projection of $5.6 billion and $9.6 billion, respectively, according to LSEG data.