Boeing Cuts Delivery Target, Shares Slide Amid Investor Skepticism

Boeing announced that it will miss its full-year goal of delivering 500 737 Max jets and will likely hit the lower end of its 787 Dreamliner guidance. The company also projected free-cash-flow generation of about $3 billion for 2027, well below analysts’ average estimate of $5.3 billion. The news sent the stock down another 11 percent, extending a sell-off that has left the shares near their lowest level since April 2025. The decline follows a year in which Boeing’s share price has fallen roughly 62 percent from its March 2019 peak of $440.62.

Bloomberg

Earlier this quarter, Boeing secured regulator approval for the 737 Max 7 and 10 and won a major contract for the U.S. Navy’s next-generation fighter jet, creating an otherwise positive backdrop. Nonetheless, the planemaker has grappled with a production slowdown caused by supply-chain constraints, a resolved software glitch in the 737 Max, and a brief threat of a labor strike. Bullish sentiment on Wall Street had risen to a five-year high, with average analyst price targets about 40 percent above the market price and a valuation of roughly 62 times estimated earnings for the next 12 months.

Bloomberg

Chief Executive Officer Kelly Ortberg emphasized that the priority is “doing the ramp right” rather than meeting a specific monthly production rate, underscoring a disciplined approach to scaling output. Boeing declined to comment further when approached for additional remarks.

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• “Investors are not disputing the bull case so much as refusing to pay for it in advance, and today proved they were right to wait,” — Dave Mazza, chief executive officer at Roundhill Investments

Bloomberg

• “Wall Street may have gotten ahead of itself in anticipating how quickly Boeing could accelerate aircraft production, restore profitability, and generate meaningful free cash flow,” — Ivan Feinseth, chief investment officer at Tigress Financial Partners

Bloomberg

• “As I’ve said many times before, it’s more important that we do this ramp right than what particular month we achieve a rate break, and we’ll stay disciplined here,” — Chief Executive Officer Kelly Ortberg

Bloomberg

• “Investors have grown impatient with the fits and starts that have happened over the past few years,” — Joe Gilbert, portfolio manager at Integrity Asset Management

Bloomberg

• “Investors tend to like stocks that can revise numbers steadily higher over time, and Boeing appears to have now finally put itself in a position to do that,” — BNP Paribas

Bloomberg