Boeing Stock Tumbles After CEO Says 737 Max Production Behind Schedule

MT Newswires Live00:46

Boeing (BA) shares fell by nearly 10% in Tuesday trading after Chief Executive Kelly Ortberg said in an earnings call that the airplane manufacturer will not hit its 737 monthly production rate target until early 2027, according to media reports.

Shares of the company were also sagging due to a wider-than-expected Q3 core loss it reported earlier Tuesday.

Boeing said in its earnings report that the 737 program continues to advance towards stabilized production of 47 units per month, with the 737-7 receiving amended type certification and the 737-10 receiving certification from the Federal Aviation Administration.

The 787 program maintains production at eight units per month, while the 777X program continues to progress on 777-9 certification flight testing and remains on pace for first delivery in 2027, the company said.

Price: 169.86, Change: -18.45, Percent Change: -9.80

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