Aerospace & Defense

Boeing on Track for Record Annual Deliveries

United Airlines
Source: United Continental Holdings Inc.
Boeing Co. (NYSE: BA) reported Monday morning that commercial aircraft deliveries totaled 197 in the second quarter of 2015, up from 181 in the second quarter of last year. For the first half of 2015, Boeing has delivered 381 commercial jets, up from 342 in the first half of 2014.

In 2014 Boeing delivered a total of 723 commercial jets, and it has estimated that it will deliver between 750 and 755 for the full year in 2015. If the company delivers the same number of planes in the second half of the year as it did in the first half, it will sell 762 commercial jets. Last year’s deliveries were the most ever for any aircraft maker, and Boeing seems confident, so far at least, in breaking that record this year.

Total deliveries of military aircraft trail last year’s totals however. In the first half of 2015, new build AH-64 Apache helicopters totaled 12, compared with 19 in the first half of 2014. CH-47 Chinook helicopters totaled 21 new builds this year, compared with 32 a year ago, and F-18 fighter plane deliveries have totaled 20 so far in 2015, compared with 23 in the first six months of 2014.

Let’s look at the commercial mix. In the second quarter of 2015, Boeing sold 128 737s, compared with 121 in the first quarter. Second-quarter sales of the 777 totaled 26, up from 24 in the first quarter, and 787 sales rose from 30 to 34 quarter-over-quarter. The 777-300ER is Boeing’s most expensive commercial plane, with a list price of $330 million per copy.

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In Dreamliner sales, Boeing delivered 10 787s in June, compared with 13 in May and 11 in April. Part of the reason for the lower total is continuing difficulty sourcing seats for the planes. The good news for Boeing is that June deliveries of the more expensive 787-9 ($257.1 million) topped deliveries of the 787-8 ($218.3 million) for the first time ever. Boeing delivered six of the 787-9s and four of the 787-8s in June.

Boeing’s new price list, issued last week, has lifted list prices on these planes by 2.9% to nearly $340 million for the 777-300ER, $264.6 million for the 787-9 and $224.6 million for the 787-8.

Deliveries of the 777 are right on track at 50 through the first half of the year. Boeing projects sales of 100 planes this year, a production rate of 8.3 planes per month.

In the race for new orders, Airbus has taken 348 net new orders so far this year, compared with 281 for Boeing. For the full year, Airbus expects to deliver a “slightly higher” total of commercial jets in 2015 than the 626 it delivered in 2014.

Boeing’s stock traded up about 0.3% in the noon hour on Monday, at $140.55 in a 52-week range of $116.32 to $158.83.

ALSO READ: Boeing 777-9X Price Rises to $400 Million

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