Aerospace & Defense

Boeing Passenger Jet Deliveries Up 9% in Q1

Boeing Co. (NYSE: BA) delivered 184 commercial airplanes in the first quarter of 2018, an increase of nearly 9% compared with 169 new planes delivered in the first quarter of 2017. When Boeing reported fourth-quarter results in January, the company forecast full-year deliveries of 810 to 815 passenger jets this year.

Deliveries of the best-selling 737 family of single-aisle jets rose from 113 last year to 132, an increase of nearly 17%. At that total, the monthly average for the first quarter of this year is 44.

Deliveries of the twin-aisle 787 Dreamliner rose by two year over year to 34. Deliveries of the 777 family twin-aisle jets fell from 21 to 12 and 767 deliveries rose from two to four. Boeing delivered two 747s in the first quarter of this year compared with just one a year ago.

Deliveries of military aircraft fell sharply to 25 from a total of 40 a year ago. Boeing delivered two F-15 and five F/A-18 fighter jets last quarter, down from a total of nine for the two planes last year. Deliveries of both new (zero) and remanufactured (six) Apache-64 helicopters plunged from a total of 16 delivered last year. New (four) and renewed (four) versions of the CH-47 Chinook helicopters fell from a total of 12 in the first quarter of last year.

In the fourth quarter of 2017, Boeing delivered 209 new airplanes, including 148 single-aisle 737s, six 747s, three 767s, 16 777s and 38 787 Dreamliners. For all of 2017, Boeing delivered 763 new commercial airplanes: 529 737s and 136 787s, along with 14 747s, 10 767s and 74 777s.

In its updated order book, Boeing shows 221 net new orders through the end of March and a total backlog of 5,835 orders, including 4,656 for the 737 family. The backlog number has been reduced by 66 due to a new revenue recognition accounting standard that took effect during the first quarter of 2018.

Boeing is scheduled to report first-quarter results before markets open on April 25.