CEO Kelly Ortberg moves the target of 47 jets a month from summer 2026 to early 2027 and expects fewer than 500 deliveries this year. Boeing also forecasts less cash generation in 2027 and 2028 than analysts expected.
Boeing chief executive Kelly Ortberg said on 27 October that the company would not reach production of 47 737 jets a month until early 2027 and expected to miss its 500-jet delivery target for 2026. Boeing also posted $464 million in free cash flow for the quarter through September, although it used $359 million over the first nine months of the year.
Boeing had aimed to reach the monthly production rate in summer 2026. Deliveries of the 737 are a major source of cash for the aircraft maker. Its shares fell 9.5% in early trading on 27 October, reaching lows last seen in April 2025.
Free cash flow is broadly the cash left from operations after spending needed for working capital and long-term assets. It measures financial flexibility because that cash can be available to creditors and investors without impairing operations.
Reuters, in an account carried by CNA, said Boeing’s positive quarterly free cash flow had not offset its cash use over January–September. The company also recorded a larger adjusted loss per share than analysts expected, while net debt fell from the preceding quarter.
| Measure | Quarterly result | Comparison |
|---|---|---|
| Free cash flow | $464 million |
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| $359 million cash outflow over January–September |
| Adjusted loss per share | 34 cents | 21-cent loss expected by analysts, in LSEG’s data |
| Net debt at quarter-end | $25.2 billion | $25.9 billion at the end of the preceding quarter |
Boeing’s commercial-aircraft unit recorded a $697 million operating loss. The company attributed the unit’s performance to less profitable jet deliveries and higher production costs, including supply-chain costs.
In January 2024, a door plug came off an Alaska Airlines 737 MAX 9 shortly after takeoff. Ortberg joined Boeing later that year, after leading Rockwell Collins. Before his arrival, years of production-quality problems had been attributed to rushed production increases at the expense of quality.
Ortberg said in September that Boeing could not make wings fast enough. He said the company faces pressure to raise 737 output faster but must remain disciplined about production increases. Boeing also faces production difficulties in its 787 program and with 777 freighters.
Boeing forecasts $3 billion in free cash flow for 2027 and $6 billion for 2028. The figures below compare the company’s outlook with analysts’ consensus estimates compiled by LSEG, rather than with an earlier Boeing forecast.
| Year | Boeing forecast | Analysts’ consensus, compiled by LSEG |
|---|---|---|
| 2027 | $3 billion | $5.5 billion |
| 2028 | $6 billion | $9.6 billion |
Ortberg said Boeing still plans to increase 737 production to 52 jets a month in the second half of 2027.
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