Boeing CEO Kelly Ortberg said the company will not reach its target of producing 47 737s a month until early 2027, later than planned. Boeing reported an adjusted quarterly loss of 34 cents per share and $25.2 billion in net debt.
Boeing will not reach its target of producing 47 737s a month until early 2027, CEO Kelly Ortberg said. The company had planned to reach that rate in the summer. Ortberg said Boeing is ramping up production while staying disciplined, and cited difficulty making wings fast enough as a challenge.
Boeing reported an adjusted loss of 34 cents per share for the quarter through September, compared with a market expectation of a 21-cent loss. Commercial Airplanes revenue dipped slightly to $10.7 billion, with an operating loss of $697 million; Boeing attributed its performance to less profitable deliveries and higher production costs, including supply-chain costs. Net debt was $25.2 billion, down from $25.9 billion in the previous quarter and $30.4 billion a year earlier.
Boeing's defense division reported nearly $500 million in quarterly earnings and a 6.2% operating margin, compared with 1.7% a year earlier. Boeing Global Services earned $1 billion and posted an 18.3% operating margin.
