Boeing Reports Q3 Deliveries: Commercial Down, Defense Up
Zacks Investment Research | Oct 09, 2016 09:35PM ET
Aerospace behemoth The Boeing Company (NYSE:BA) has reported third-quarter 2016 deliveries, wherein commercial deliveries dropped 5.5% but defense shipments were up 4.2% year over year.
Q3 Shipments
Boeing’s third-quarter 2016 commercial deliveries of 188 airplanes were down due to lower demand for the 737, 777 and 787 Dreamliners. Sequentially, deliveries reflected a 5.5% decline. Deliveries of the single-aisle 737 slipped to 120 in the third quarter from 126 a year ago, as the company was busy with the production of a newer version of its most popular plane, the 737 MAX.
Shipments of 777 and 787 Dreamliners were 22 and 36, compared with 27 and 37 in the year-ago period, respectively. For the 747 and 767 jets, the company’s deliveries clocked 5 each, compared with 4 units of 747 and 5 units of 767 in the year-ago quarter.
In the defense and space business, Boeing’s deliveries totaled 50 in the third quarter of 2016, up from 48 a year ago and 45 in the preceding quarter. Total deliveries consisted of 19 AH-64 Apache (NYSE:APA) helicopters (both new and remanufactured) and 14 Chinook helicopters (new and renewed). The company also delivered 6 F/A-18 jets, 4 P-8 models, 4 F-15s, 1 Military Satellite, and 2 Commercial and Civil Satellites.
Boeing’s total deliveries were 238 units in the third quarter 2016, compared with 247 a year ago.
Year-to-Date Numbers
In the first nine months of the year, Boeing’s total shipments were 708 units, compared with 726 in the corresponding period last year. Of the total, commercial deliveries were 563 (down from 580 in the year-ago period), while defense deliveries were 145 units (down from 146 a year ago).
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