Boeing deliveries fall, but orders rise
The gains in its order book help explain why the company plans to expand production rates.
Boeing (BA) delivered 108 jets in the first three months of 2010, down from 121 in the same quarter of 2009.
But Boeing said today its net orders rose in the first quarter to 83, compared to negative-four orders in the first quarter of 2009.
Shares were up slightly at $72.28 despite falling after the open. Shares are off 1.8% this week, although Boeing remains the top performer among the 30 stocks in the Dow Jones Industrial Average ($INDU) this year with a 32% gain.
Boeing trails rival Airbus in jet deliveries so far this year. Airbus delivered 122 aircraft in the first quarter. However, Boeing leads the European company in net orders over the first three months. Airbus posted 60 net orders, compared to Boeing's 83.
Boeing deliveries of single-aisle jets outpaced deliveries of its wide-body jets. Boeing delivered 86 737s in the first quarter of 2010. That's down from 91 in 2009 and 87 in 2008.
Airbus handed over 100 of its single-aisle A320 jets in the first quarter.
Boeing's wide-body jet deliveries in the first three months include 19 777s and three 767s. The company delivered zero 747s as it works toward handing over the first 747-8 later this year.
Airbus said it delivered 19 of its A330 wide-body aircraft and three of its super-jumbo A380 jets through March 31.
Boeing updated its deliveries and orders today and will report its quarterly earnings on April 21.
Boeing said last month it will accelerate planned increases in production of two of its popular wide-body planes to accommodate heightened demand from airlines that had curbed orders in the last two years because of the economic crisis.
The improved outlook by the world's No. 2 plane maker may represent the start of a rebound in demand for Boeing and Airbus planes as the global airline industry recovers from a downturn.
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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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