Boeing Q1 Deliveries Surge to 143 Units with $560B Backlog, But Profitability Squeezed
Boeing delivered 143 aircraft in Q1, outpacing Airbus’s 114, while securing 149 net orders and maintaining a $560 billion backlog. First-quarter profitability faces pressure from integration losses at Spirit AeroSystems, though improving 737 Max deliveries and a plan to ship 500 units this year could bolster future margins.
1. Strong Q1 Delivery and Order Metrics
Boeing delivered 143 aircraft in the first quarter, surpassing Airbus’s 114 deliveries, and recorded 149 net orders, maintaining a backlog of approximately $560 billion that underpins revenue visibility through the mid-decade runway.
2. Integration Losses Weigh on Q1 Profitability
The company is set to report a first-quarter EPS loss near $0.68 as it absorbs significant charges related to integrating Spirit AeroSystems operations, which will pressure margins in the commercial aircraft segment.
3. Improving 737 Max Output Could Support Future Margins
Boeing plans to ship around 500 737 Max jets in 2026, with quarterly delivery improvements suggesting potential margin recovery once supply chain bottlenecks ease and production scales up.
4. Revenue Growth Forecast Reflects Jet Sales Strength
Revenue is projected at $21.9 billion, a 12.4% increase from a year earlier, reflecting strong commercial jet sales despite ongoing supply chain constraints.