ARLINGTON, Va. - Boeing Co (NYSE:BA) [NYSE: BA], the American aerospace giant, has released its delivery numbers for the fourth quarter of 2024, providing a glimpse into its recent performance ahead of the detailed financial results scheduled for January 28. Trading at $166.85, the company's stock appears overvalued according to InvestingPro analysis. The company saw a total of 57 commercial airplanes delivered in the fourth quarter, contributing to a yearly total of 348 aircraft across various models, operating within a challenging environment with gross profit margins of just 3.62%.
The 737 model led the commercial airplane deliveries with 36 units in the fourth quarter, rounding up the year with 265 deliveries. The 787 Dreamliner followed, with 15 deliveries in the last quarter and a total of 51 for the year. The 767 and 777 models saw fewer movements, with 3 deliveries each in the fourth quarter and annual totals of 18 and 14, respectively.
In the defense sector, Boeing's fourth quarter was marked by a diverse array of aircraft and equipment deliveries. This included 6 new AH-64 Apache helicopters, complemented by 10 remanufactured units. The CH-47 Chinook saw 2 new and 2 renewed deliveries. The F-15 and F/A-18 fighter models added 4 and 6 to the quarter's tally, respectively. The KC-46 Tanker deliveries stood at 10 for the year, along with 6 MH-139 units and 4 P-8 models. The T-7A had a single unit delivered in the fourth quarter, reaching a total of 2 for the year. Additionally, Boeing delivered 2 commercial and civil satellites in the fourth quarter, which also summed up the annual total.
The release of these figures provides a quantitative measure of Boeing's output, although the company will provide more context and analysis with its upcoming financial results. With annual revenue of $73.29B and a market capitalization of $125.14B, Boeing faces significant challenges ahead. InvestingPro analysis reveals several concerns, including downward earnings revisions by analysts and expected sales decline. The delivery information is preliminary and subject to adjustment until the financial results are officially published. Discover deeper insights and 8 additional key ProTips about Boeing's financial health with an InvestingPro subscription, including exclusive access to comprehensive Pro Research Reports covering 1,400+ top stocks.
Investors and industry watchers typically scrutinize delivery numbers as an indicator of the company's health and its ability to convert orders into revenue. This latest report from Boeing is based on a press release statement and is a key factor for stakeholders awaiting the full financial disclosure later this month.
In other recent news, potential trade tariffs proposed by U.S. President-elect Donald Trump could disrupt Boeing's cash generation, according to AerCap CEO Aengus Kelly. This concern arises due to the potential impact on supply chains, particularly for Boeing's 737 MAX 7, 737 MAX 10 jets, and the long-delayed 777X. Meanwhile, Barclays (LON:BARC) has upgraded Boeing stock from Equalweight to Overweight, indicating positive momentum in production and deliveries through 2025 despite the company's significant total debt of $57.65 billion and negative free cash flow.
Boeing is currently negotiating a new deal with US prosecutors to resolve a criminal case related to two fatal 737 MAX crashes. This development follows a federal judge's dismissal of an earlier proposal due to the inclusion of race as a criterion for choosing a compliance monitor. In parallel, South Korea has initiated an inspection of all 737-800 aircraft following a fatal crash involving this model. The investigation focuses on a potential bird strike and an unusual landing gear failure.
In the midst of these developments, Boeing received a significant order from Pegasus Airlines, Turkey's premier low-cost carrier, for 100 of the 737 MAX 10 models. This order surpasses the size of Pegasus's existing fleet and signals confidence in Boeing's 737 MAX series. These are some of the recent developments at Boeing.
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