New York, January 26, 2026, 12:53 ET — Regular session
- Boeing shares slipped roughly 0.6% by midday trading
- Tuesday’s quarterly results and outlook call now take center stage
- Attention turns to 737 build rates, cash flow, and certification schedules
Boeing shares slipped 0.6% to $250.53 in midday trading Monday, as investors braced for the planemaker’s fourth-quarter results due Tuesday. CEO Kelly Ortberg and CFO Jay Malave will answer questions on a conference call.
This week’s report serves as a check on a recovery driven as much by factory updates as by earnings. Investors are looking for clear evidence that Boeing can ramp up production and deliver aircraft without new quality issues.
The bigger issue is cash. Boeing’s recovery hinges on free cash flow — the money left over after covering operating costs and capital expenditures — since it shows whether increased deliveries are actually generating cash to reduce debt and support production.
Analysts are forecasting a 39-cent per share loss this quarter, but all eyes remain on whether Boeing can push 737 production beyond the federal limit of 38 jets a month. Regulators gave the green light for 42 planes in October, and investors want to see a clear plan for ramping up to 47. Bernstein’s Doug Harned called 42 a month “not a major challenge,” but flagged that hitting 47 will require the supply chain to keep pace. Investors also want more clarity on how Boeing plans to reach $10 billion in annual free cash flow, which Bernstein projects for 2028. BNP Paribas analyst Matthew Akers expects $9 billion by 2029. Reuters
Certification continues to weigh on progress. FAA Administrator Bryan Bedford insisted the agency isn’t holding up approval for the 737 MAX 7 and MAX 10, saying, “I don’t think FAA is the roadblock on 7 and the -10 certification.” He did point out Boeing still has unresolved issues; the jets face delays due to an engine de-icing problem. Boeing now expects certification to wrap up in 2026. Reuters
Supply remains tight beyond AerCap. CEO Aengus Kelly warned Boeing and Airbus might not hit their delivery targets until decade’s end, labeling current output goals as “aspirational.” Both manufacturers are behind schedule, while jet engine maintenance demands exceed expectations. Reuters
Boeing cited increased deliveries as a sign that its factory operations are settling down. The company reported 600 commercial jet deliveries for full-year 2025, which included 447 737s and 88 787s. It also said fourth-quarter commercial deliveries reached 160, though it cautioned these numbers won’t be final until the quarterly financial results are released.
The stock faces a tight balancing act: ramp up volume, cut defects, and prove that cash flow is improving. Investors will also watch for Boeing’s timeline on ramping production and how long it intends to maintain each build rate before adjusting further.
The downside is well-known. A drop in build quality, delays in certification, or supply chain issues could slow production ramp-up and strain cash flow, putting management’s schedule under pressure.
Tuesday’s earnings report and outlook will be under the microscope, with investors zeroing in on details about 737 production rates, free-cash-flow goals, and the certification timeline for the MAX 7 and MAX 10.
