Air Capital Insider

Boeing jet deliveries slip in second quarter, first half of year

The 747 was the only airplane model that Boeing saw delivery increases in the second quarter and first half of 2017.
The 747 was the only airplane model that Boeing saw delivery increases in the second quarter and first half of 2017. Courtesy photo

Boeing delivered 16 fewer jets in the second quarter of 2017, the company announced Friday.

Total deliveries for the three-month period ending June 30 were 183 jets, compared with 199 in the same quarter a year ago.

Jet deliveries were also lower for the first six months of the year: 352 in 2017 compared with 375 in 2016.

Deliveries were down across every model except the 747. The company delivered three 747s compared with two in the second quarter last year, and four in the first six months of 2017 compared with three in the same period last year.

Spirit AeroSystems in Wichita is Boeing’s largest supplier and manufactures major sections of every Boeing airplane, including 70 percent of the 737 airliner.

Boeing’s delivery totals were below at least two analysts’ expectations.

Analysts at Bank of America Merrill Lynch were expecting 192 deliveries for the quarter, while Wells Fargo Securities senior analyst Sam Pearlstein was expecting 188 deliveries.

Bank of America analysts and Pearlstein said in investor notes Friday that they expected higher deliveries of 737s and 787s. Pearlstein also projected higher 767 deliveries for the quarter.

“We believe this is merely a timing difference that will be made up in H2; as such, our full-year estimates for deliveries … are unchanged,” Pearlstein wrote.

Jerry Siebenmark: 316-268-6576, @jsiebenmark

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