Boeing's stock climbs above $200 despite August delivery dip, driven by improved long-term outlook
Boeing delivered 51 aircraft in August, a 10.5% drop from a year earlier. However, the company's year-to-date deliveries are its best since 2018. Investors are looking past the monthly dip, focusing on the improved long-term picture, including $24.5 billion in Q2 revenue (up 8% year-on-year), positive adjusted free cash flow of $631 million, and a robust $715 billion backlog with over 6,200 commercial aircraft in the pipeline. CEO Kelly Ortberg emphasized the ongoing efforts to rebuild trust among stakeholders.
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