Overview
- Boeing’s CFO said 737 and 787 deliveries will rise in 2026, with most handovers coming from current production rather than stored inventory.
- Management projects positive free cash flow in the low single-digit billions next year, and shares rose about 6%–9% after the remarks.
- The FAA’s removal of the 38-per-month cap enables a 737 MAX ramp toward 42 per month with higher output expected to show in early 2026, while 787 production is slated to move from seven to eight per month.
- Certification of the 737-10 is expected late in 2026, so some aircraft built next year may not be delivered until 2027.
- Key headwinds persist, including roughly $2 billion of 2026 cash pressure from 777X delays, a DOJ payment shifting into next year, about $8 billion of debt maturities, and ongoing capex for capacity expansions in Charleston and St. Louis.