BA · Earnings call · 2026Q3T · Full report

737 MAX Production Ramp

BOEING CO · 2026-10-27 · Importance 38 · Surprise 24 · In source text

Boeing is working to stabilize 737 production at 47 airplanes per month, but management said demonstrating performance at that rate is taking longer than expected and full stability is expected next year. Wing output is improving, but the company has not yet demonstrated sustained production to support rate 47; the North Line, back shops and Wichita fuselage production must be ready to reach rate 52. Management said its financial plan targets rate 52 in the second half of 2027 and emphasized a disciplined ramp rather than a specific rate-break date.

Key facts

• Boeing delivered 124 737 aircraft in the third quarter of 2026, and expects 2026 deliveries to fall short of the 500-aircraft target because delayed stability at 47 per month lowers output.
• Boeing's financial plan targets a 737 production rate of 52 aircraft per month in the second half of 2027.
• Boeing is working to stabilize 737 production at 47 aircraft per month, but expects it will take into 2027 to become fully stable at that rate.
• Boeing expects approximately 30 prebuilt 737-7 and 737-10 aircraft to be delivered in 2027.
• Boeing was intentionally producing Wichita fuselages below final-assembly rates to reduce inventory, and needed to ramp fuselages through the remainder of 2026 and early 2027 to synchronize with 52-per-month final assembly.
• Boeing said the North Line was progressing well and had rolled out its first 737-10 from the Everett production facility on October 26, 2026.
• Boeing's 737 final-assembly rework improved 40% since the start of 2025.
• Boeing must certify and start producing on the North Line, stabilize back shops including wings, and stabilize Wichita fuselages at higher rates to reach 52 737 aircraft per month.

Impact estimates