Boeing plunges ~10% after Q3 loss and 737 MAX delivery cut
What happened
Boeing shares plunged about 9-10% on Tuesday, October 27, to roughly $171, after the company's third-quarter earnings call torpedoed expectations for a quick production recovery. Boeing reported a Q3 core loss of $0.34 per share on $24.1-24.2 billion in revenue, versus a roughly $0.21-0.25 per-share loss expected; revenue rose 4% year over year. The stock initially rose after the release, then slid once the 10:30 a.m. ET call began, falling 9.6% through 12:05 p.m. ET and more than 10% in midday trading. On the call, management said Boeing is unlikely to deliver 500 MAX jets in 2026 as expected, and does not expect to raise the monthly MAX production rate to 52 a month until late 2027 — far later than the late-2026/early-2027 timeline investors had hoped for. CEO Kelly Ortberg said the step up to 47 jets a month 'didn't go as smoothly' as the previous increase, citing wing-production challenges and engine supply issues.
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Start your free 14-day trialWho’s affected
- Boeing (BA): down roughly 9-10% to about $171, the day's biggest Dow drag, after the delivery warning
- Commercial aerospace suppliers and airlines exposed to MAX delivery timing: a slower MAX ramp delays fleet deliveries and aftermarket revenue
- Dow Jones Industrial Average: Boeing's drop weighed on the blue-chip index even as the S&P 500 and Nasdaq rose on AI/tech strength
- Airbus (competitor read-through): a slower Boeing ramp is, on the margin, supportive for Airbus's A320/A321 family, the MAX's direct rival