Boeing (BA) on Tuesday logged steep annual declines in its deliveries for March and the first quarter amid ongoing quality checks and investigations by regulators.
The plane maker delivered 29 jets last month, comprising mainly the 737 Max aircraft, up from a total of 27 deliveries in February but down from 64 a year earlier, according to data posted on its website. In March 2023, Boeing delivered 52 737 Max jets. Its first-quarter deliveries tumbled to 83, which media outlets said was the lowest since mid-2021, from 130 a year earlier.
The company’s shares were down 1.8% in Tuesday afternoon trade.
The company booked 113 orders in March, including 85 737 Max planes from American Airlines Group (AAL), taking its first-quarter tally to 131, up from 120 in the year-ago quarter. Boeing booked 15 orders in February and 60 in March 2023. As of March 31, the company had 6,259 unfilled orders, the data showed.
On Sunday, the US Federal Aviation Administration said it launched a probe into an incident where a Boeing 737-800 jet operated by Southwest Airlines (LUV) suffered a structural failure over the weekend.
The company is scheduled to release its first-quarter financial results April 24. Analysts polled by Capital IQ expect a normalized loss of $1.33 a share on revenue of about $18.20 billion. Boeing refrained from issuing full-year financial guidance when it reported its fourth-quarter results at the end of January, as it outlined plans to improve the quality of its 737 Max planes.