Boeing Delivered 51 Jets in August. Here's Why the Stock is Finally Back Above $200.
Key PointsBoeing's backlog is a massive $715 billion, and covers more than 6,200 commercial aircraft orders.
Shares of Boeing (NYSE: BA) recently breached the $200 mark, despite a modest decline in August deliveries. In August, the aerospace giant delivered 51 aircraft, marking a 10.5% decrease compared to the same period last year. However, Boeing's cumulative aircraft deliveries for the year to date are the strongest performance since 2018. Investors are disregarding the August dip, focusing instead on the more favorable long-term trends.
Boeing generated $24.5 billion in revenue during the second quarter, reflecting an 8% increase from the previous year. Adjusted free cash flow turned positive for the quarter, reaching $631 million, a stark contrast to the negative $200 million reported in the second quarter of the prior year. The company's backlog is substantial, valued at $715 billion, with over 6,200 commercial aircraft awaiting delivery.
Boeing's turnaround strategy seems to be bearing fruit. CEO Kelly Ortberg has emphasized the company's efforts to rebuild trust among customers, regulators, and suppliers, setting the stage for further expansion.
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