Categories Other Industries, U.S. Markets News

Boeing delivers more aircraft in October, but stock slips

Boeing Co (BA) announced that in October, the aircraft maker delivered 43 737 single-aisle aircraft. The growing jet market fueled a year of record deliveries, with the monthly number up from the 37 deliveries a year ago.

For the first ten months of the year, Boeing has now delivered 625 aircraft, vs. 610 a year ago. Considering all deliveries, Boeing delivered 57, up from 56 last year.

The company also looks to plug any delays in its 737 production. For 2018, Boeing looks to deliver 810-815 aircraft.

Boeing third quarter 2018 Earnings Infographic

Last month, Boeing posted a 31% jump in earnings for the third quarter helped by the strong operating performance at Commercial Airplanes and a tax benefit related to the tax settlement. The top and bottom line came in above analysts’ expectations. New aircraft orders shot up steadily on strong travel demand and improving load factors.

Profit soared 31% to $2.4 billion. Earnings climbed 36% to $4.07 per share and core earnings per share spiked 37% to $3.58.

Back in September, the US Air Force selected Boeing (BA) for the T-X pilot training program valued up to $9.2 billion. Under the program, the Air Force plans to initially procure 351 jets, 46 simulators and related ground equipment, and up to a total of 475 jets and 120 simulators.

In Tuesday trade, Boeing shares fell as low as $342.04 — 4.2% lower than Monday’s close of $357.03.

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