Boeing reports 130 commercial deliveries in 1Q2025, up 57%

Boeing reported (23-Apr-2025) the following financial and operational highlights for 1Q2025:

• 737 production "gradually increased" and is still expected to reach 38 aircraft per month in 2025;
• Revenue increased to USD19.5 billion, primarily reflecting 130 commercial deliveries, up 57% from 83 deliveries in 1Q2024;
• Backlog included over 5600 commercial aircraft valued at USD460 billion;
• Boeing Commercial Airplanes revenue of USD8.1 billion and operating margin of 6.6% primarily reflected higher deliveries;
• The 787 programme continued to stabilise production at five aircraft per month. Boeing still expects to increase to seven per month in 2025;
• The 777X programme began expanded US FAA certification flight testing and the company still anticipates first delivery of the 777-9 in 2026;
• Boeing Commercial Airplanes booked 221 net orders, including 20 777-9 and 20 787-10 aircraft for Korean Air and 50 737 MAX 8 aircraft for BOC Aviation;
• Backlog at 31-Mar-2025 was USD545 billion. Boeing expects approximately 24% to be converted to revenue through 2026 and approximately 71% through 2029, with the remainder thereafter. The company noted there is "significant uncertainty" regarding the timing of when backlog will convert into revenue. It stated: "We may experience reductions to backlog and/or significant order cancellations due to various factors including delivery delays, production disruptions and delays to entry into service of the 777X, 737 MAX 7 and/or 737 MAX 10";
• Boeing continues to work through the certification process of 737 MAX 7 and 737 MAX 10, which have been delayed, while the company works through the engineering solution for the engine anti-ice system;
• As of 31-Mar-2025, Boeing had approximately 35 737 MAX 7 and 737 MAX 10 aircraft in inventory. Boeing stated: "We are following the lead of the FAA as we work through the certification process and the ultimate timing will be determined by the regulators. If we are unable to deliver aircraft and/or increase future production rates, or certify the 737 MAX 7 and 737 MAX 10 models consistent with our assumptions, our financial position, results of operations and cash flows will be adversely affected".

Boeing president and CEO Kelly Ortberg stated: "Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality". Mr Ortberg added: "We continue to execute our plan, are seeing early positive results and remain committed to making the fundamental changes needed to fully recover the company's performance while navigating the current environment". [more - original PR]