Boeing Stock Price, News & Analysis

Boeing has elected Tim Buckley, former Chair and CEO of The Vanguard Group, to its Board of Directors effective January 1, 2025. Buckley, 55, will serve on the Finance and Governance & Public Policy committees. During his leadership at Vanguard, assets under management grew 80% to nearly $10 trillion. He brings 33 years of experience in various roles including Chief Investment Officer and Chief Information Officer. As the board's 12th member, Buckley becomes the tenth new director added since 2019, joining a diverse group with expertise in aerospace, safety, engineering, manufacturing, cyber, AI, software, risk oversight, audit, supply chain management, sustainability and finance.

Boeing [NYSE: BA] projects air cargo traffic to grow by 4% annually through 2043, with the global air cargo fleet expected to increase by two-thirds from 2,340 to 3,900 airplanes. The company's 2024 World Air Cargo Forecast predicts that East and South Asian markets will lead growth, with the Asia-Pacific fleet nearly tripling. The forecast includes 2,845 freighter deliveries between 2024-2043, comprising 1,005 production and 1,840 conversions. Express carriers are expected to increase their market share from 18% to 25%, driven by e-commerce growth. India's domestic air cargo market is projected to quadruple due to expanding express and e-commerce networks.

Millennium Space Systems, a Boeing company, has completed two spacecraft for NASA's TRACERS mission, designed to study the interaction between solar wind and Earth's magnetic field. The project is now moving to the instrument integration and environmental testing phase before delivery to Vandenberg Space Force Base. Once launched into sun-synchronous orbit, the spacecraft will study magnetic reconnection and cusp electrodynamics in Earth's polar cusp region, collecting data to improve space weather forecasting capabilities. The mission features five different instruments from four institutions integrated into a spin-stabilized ALTAIR bus platform.

Boeing and Avia Solutions Group, the world's largest ACMI provider, announced a significant deal for 40 Boeing 737-8 aircraft with an option for 40 more. Avia Solutions Group, which operates in over 60 countries through 11 air operator certificates and carries over 35 million passengers annually, will use these aircraft to enhance its fleet capacity and meet seasonal customer demands. The 737-8, capable of seating 162-210 passengers with a range of 3,500 nautical miles, offers operational flexibility and improved fuel efficiency for short- and medium-haul routes.

Boeing announced the pricing of two concurrent public offerings: 112.5 million shares of common stock at $143.00 per share and $5 billion of depositary shares at $50.00 per share. Each depositary share represents a 1/20th interest in a 6.00% Series A Mandatory Convertible Preferred Stock. The net proceeds will be approximately $15.81 billion from the common stock offering and $4.91 billion from the depositary shares offering. The company plans to use the proceeds for general corporate purposes, including debt repayment, working capital, and capital expenditures.

Boeing [NYSE: BA] announced that LATAM Airlines Group has ordered 10 Boeing 787-9 Dreamliners with options for 5 more aircraft. As Latin America's largest 787 operator with 37 existing 787s, LATAM aims to expand its fleet to 52 Dreamliners by 2030. The 787-9 offers 25% better fuel efficiency compared to previous models and will help LATAM grow sustainably while reducing its carbon footprint. The airline plans to receive at least two aircraft annually from 2025 through the decade's end. Boeing's Market Outlook forecasts Latin American air travel to double over the next 20 years, with regional fleet growth expected to exceed 3,000 airplanes by 2043.

Boeing [NYSE: BA] has announced concurrent public offerings of 90 million shares of common stock and $5 billion of depositary shares. Each depositary share represents a 1/20th interest in Series A Mandatory Convertible Preferred Stock. The company will grant underwriters a 30-day option for additional 13.5 million common shares and $750 million depositary shares. Proceeds will be used for general corporate purposes, including debt repayment, working capital, and investments. The preferred stock will automatically convert into common stock by October 15, 2027, with a liquidation preference of $1,000 per share. Boeing plans to list the depositary shares on NYSE under 'BA.PRA'.

Millennium Space Systems, a Boeing company, has been awarded a contract by the U.S. Space Force Space Systems Command for an additional plane of six Missile Track Custody (MTC) satellites. This brings their total contract to two planes, comprising 12 MTC satellites, along with ground systems and mission operations. The Boeing-provided electro-optical infrared payload features advanced sensor technology for high-resolution tracking from MEO, with enhanced onboard processing for faster threat detection and response. The company has also completed the ground system's critical design review, implementing an automated mission operations approach.

Boeing [BA] reported challenging Q3 2024 results with revenue of $17.8 billion, down 1% year-over-year. The company posted a significant GAAP loss per share of ($9.97) and core loss per share of ($10.44), primarily due to IAM work stoppage and charges on commercial and defense programs. Operating cash flow was negative at ($1.3) billion with free cash flow of ($2.0) billion. Total company backlog remained strong at $511 billion, including over 5,400 commercial airplanes. Commercial Airplanes delivered 116 aircraft and booked 49 net orders, while Defense, Space & Security faced challenges with significant charges on multiple programs.