Boeing's Record Month for Deliveries Sparks Best Month in Four Years

Boeing Co. ended 2022 with its best month of deliveries in four years, providing a boost to the company's cash position and signaling that its recovery is gaining momentum.
Boeing announced Tuesday that it delivered 69 jets in December, including 54 from its 737 family. This gave the company a total of 387 deliveries for the year, exceeding its own predictions by 12.
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Boeing's recent turnaround has been impressive, with the company's shares rising by 72% since the end of September. This has put Boeing ahead of its rival Airbus SE, which has only seen a 32% increase over the same period. Despite this, Airbus still outsold and produced more aircraft than Boeing.
Boeing is set to fall short of Airbus in terms of aircraft deliveries for the year, with 480 deliveries compared to Airbus' 565. This will be the fourth consecutive year that Airbus has been the world's largest planemaker.
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Boeing had 808 sales in 2022, after cancellations and a US accounting provision for deals that were at risk. Airbus had 825 net orders as of the end of November, boosted by a 292-jet deal with China’s biggest airlines in July.
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Both manufacturers have struggled to meet sales commitments as the pandemic has eased, leaving them with shortages of components and skilled workers. Boeing delivered 10 of its 787 Dreamliners last month while it slows work in its South Carolina factories to deal with late-arriving shipments from Spirit AeroSystems Holdings Inc.
According to Sheila Kahyaoglu of Jefferies, the December delivery totals support Boeing’s guidance for $2.5 billion of free cash flow in the fourth quarter. She projects that Boeing’s cash will rise to $3.8 billion this year, while the planemaker expands its jet shipments by 17% from 2022 totals. Boeing is scheduled to report fourth-quarter earnings on Jan. 25.