Record 2018 jet deliveries
Boeing (BA) stock gained ~4% on January 8 after the plane maker announced setting a new annual record for jet deliveries in 2018. The Chicago-based airplane manufacturer revealed it delivered a total of 806 jets in 2018 and surpassed last year’s record of 763 shipments.
Last year also was the 11th straight year of annual production growth for the company. Boeing’s commercial airplanes president and CEO, Kevin McAllister, said, “Boeing raised the bar again in 2018 thanks to our teammates’ incredible focus on meeting customer commitments, and continuously improving quality and productivity.” He added, “In a dynamic year, our production discipline and our supplier partners helped us build and deliver more airplanes than ever before to satisfy the strong demand for air travel across the globe.”
However, 2018 deliveries fell short of the company’s own guidance range of 810–815. Nonetheless, it seems that the slight miss didn’t bother investors, as the stock moved higher during yesterday’s trade.
The most significant contributor to Boeing’s 2018 deliveries was its famous 737 airplanes. The company delivered 580 of these planes, which accounted for ~72% of the total shipments. The plane manufacturer stated that it raised the monthly production rate of its 737 family airplanes to 52 units in the middle of 2018. During the year, Boeing’s 737 models were delivered to major US air carriers (JETS) such as American Airlines (AAL), Delta Air Lines (DAL), Southwest Airlines (LUV), and United Continental (UAL).
Boeing noted that the production rate of its 787 Dreamliner was the highest among the rates for twin-aisle airplane models to meet the growing demand for this super-efficient jet. Last year, the company delivered 145 of these airplanes.
December and Q4 deliveries
In December 2018, the company delivered a total of 102 jets. 69 of these were 737 models, 11 were 767 models, five were 777 models, and 17 were 787 models. During the fourth quarter of 2018, Boeing delivered 238 aircraft, the highest among all the quarters of 2018. In the first, second, and third quarters, the company supplied 184, 194, and 190 jets, respectively.