Boeing First-Quarter Deliveries, Orders Increase Annually; Shares Rise
MT Newswires
09 Apr
boeing -Shutterstock
Boeing (BA) on Tuesday reported increases in both deliveries and orders for the first quarter on an annual basis.
The plane maker delivered 130 aircraft in the March quarter, up from 83 a year earlier and 57 in the prior quarter. The latest deliveries included 104 737 Max jets, data on the company's website showed. Overall deliveries in March totaled 41, up from 29 a year earlier, but down from 44 in February.
Boeing booked 241 orders in the just-concluded quarter, surging from 131 a year earlier, but lower than 254 in the fourth quarter. Orders booked in March totaled 192, up from 113 a year ago and just 13 in February.
The company's shares were up 2.6% in Tuesday late-afternoon trade. The stock has lost 20% in value so far this year.
Boeing's European rival, Airbus, is expected to report its monthly orders and deliveries data Wednesday, Reuters and Bloomberg reported.
Late last month, Boeing announced a firm order for 50 737-8 Max jets from Singapore-based aircraft leasing company BOC Aviation.
The plane maker's first-half deliveries are expected to benefit from higher inventory levels, RBC Capital Markets said in March. The company will likely be able to produce 38 Max planes per month by the third quarter, according to the brokerage.
Boeing's unfulfilled orders as of the end of March totaled 6,319, while its backlog stood at 5,648, the data on its website showed.
Chief Financial Officer Brian West said last month that the company's cash outflow is expected to be smaller in the first quarter than previously projected.
Boeing is scheduled to report first-quarter financial results April 23.
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