So the latest numbers are in for aerospace stock Boeing (BA), and it turns out that despite a panoply of problems and an ongoing strike, the company still managed to deliver some commercial aircraft.
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Boeing managed to deliver 33 airplanes to customers this September, including 27 737 MAX aircraft. Last September, Boeing managed to get out just 27 planes. However, Boeing is down over nine months against the first nine months of 2023, with 291 aircraft delivered in 2024 versus 371 for the same time frame last year.
However, it is worth pointing out that only 10 of those 27 airplanes were not already completed and delivered before a machinist strike began at the company in September. To make matters worse, Boeing can get back to delivering 25 airplanes a month if the strike comes to an end in October. However, even with that, plans to get Boeing back to 38 Max aircraft delivered each month will be pushed back to 2025.
Back to the Bargaining Table
Proving conclusively that Boeing’s “best and final offer” was indeed a paper tiger, Boeing and its machinists’ union are going back to the bargaining table. While negotiations have been stymied for two weeks, the fact that the strike is costing Boeing around $100 million per day in lost sales is likely giving management motivation to return to the table.
With 33,000 workers currently on strike—and without their healthcare benefits—it might be that everyone is a little more motivated than they were previously. But only time will tell what kind of agreement they can strike, given the circumstances.
Is Boeing a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 15 Buys, four Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 17.79% loss in its share price over the past year, the average BA price target of $206.11 per share implies 33.19% upside potential.
