Boeing Co's top executives on Wednesday forecast a ramp-up in jet deliveries and higher free cash flow next year, as they sought to reassure skeptical investors the planemaker was recovering from a crippling slowdown following the pandemic and the grounding of its best-selling jet after fatal crashes.
A Boeing 737 Max aircraft during a display at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborratop executives on Wednesday forecast a ramp-up in jet deliveries and higher free cash flow next year, as they sought to reassure skeptical investors the planemaker was recovering from a crippling slowdown following the pandemic and the grounding of its best-selling jet after fatal crashes.
Boeing shares were up about 6.5% at $152.84 in afternoon trade. They have fallen 29% this year, steeper than the 19% decline in the S&P 500 index, as Boeing has fallen short of Wall Street earnings estimates for five straight quarters. At the investor conference, some analysts questioned the company's production and delivery targets, citing supply-chain bottlenecks. Chief Executive David Calhoun, however, said the company has taken into account all the potential challenges.
The company faces a late December deadline for the Federal Aviation Administration to certify MAX 7 and MAX 10 planes under existing rules.
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