Boeing’s Delivery Backlog Supports Valuation Upside Despite EPS Losses

Published 09/07/2025, 20:27
Updated 09/07/2025, 21:30

Boeing Co (NYSE:BA)’s stock surged 3.95% to $227.16 on July 9, 2025, following the company’s announcement of robust second-quarter delivery figures that marked its strongest performance since late 2023.

The aerospace giant delivered 150 commercial aircraft during the quarter, representing its best second-quarter showing since 2018, the year before the twin 737 Max crashes that triggered a prolonged crisis. The delivery milestone signals Boeing’s gradual recovery from production setbacks and safety concerns that have plagued the company, including the January 2024 door plug incident that renewed regulatory scrutiny of its manufacturing processes.

Boeing’s Second Quarter Delivery Performance Shows Recovery Momentum

Boeing’s second-quarter commercial airplane deliveries totaled 150 aircraft, bringing the year-to-date total to 280 units across all commercial programs.

The 737 program led deliveries with 104 aircraft in the quarter, while the 787 Dreamliner contributed 24 units, the 777 delivered 13 aircraft, and the 767 added 9 units. June proved particularly strong, with the company delivering its highest monthly total since December 2023, demonstrating renewed momentum in production recovery.

The quarterly results represent Boeing’s best second-quarter performance since 2018, marking significant progress in the company’s turnaround efforts under CEO Kelly Ortberg, who assumed leadership in August 2024.

Despite facing production constraints, including a Federal Aviation Administration cap of approximately 38 737 Max jets per month following the January 2024 door plug incident, Boeing appears to be stabilizing its manufacturing processes and enhancing quality control measures.

Defense, Space & Security programs also contributed to the quarter’s success, delivering 36 units including Apache helicopters, Chinook aircraft, F-15 and F/A-18 models, and KC-46 tankers. The diversified delivery portfolio across both commercial and defense segments underscores Boeing’s operational breadth and recovery across multiple business lines.

Boeing’s Stock Performance Reflects Market Confidence in Boeing’s Turnaround

Boeing’s stock was trading at $227.16 on July 9, 2025, at the time of writing, representing an 8.64-point gain or 3.95% increase from the previous close of $218.52.

The stock opened at $220.12 and traded within a daily range of $220.38 to $228.50, with trading volume reaching 7.26 million shares compared to the average volume of 8.57 million. The positive market reaction reflects investor confidence in Boeing’s delivery improvements and operational progress.

The stock’s 52-week range of $128.88 to $228.50 highlights the significant recovery Boeing has achieved, with the current price near the upper end of this range. Despite negative earnings per share of -$17.96 over the trailing twelve months, the market appears optimistic about Boeing’s future prospects, particularly given the company’s substantial backlog of 5,600 aircraft as of June 2025, which underscores long-term demand for its products.

Market analysts will closely watch Boeing’s detailed second-quarter financial results, scheduled for release on July 29, 2025, to gauge the company’s progress in restoring profitability while managing regulatory requirements and production increases.

The strong delivery numbers provide a foundation for potential earnings improvement, though Boeing’s path forward remains complex as it navigates operational stability, regulatory approval processes, and the need to rebuild customer confidence.

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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

This article was originally published on The Tokenist. Check out The Tokenist’s free newsletter, Five Minute Finance, for weekly analysis of the biggest trends in finance and technology.

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