The largest jet manufacturer worldwide, Boeing Co., revealed in an official statement that it managed to deliver a record number of planes in 2014. This came as a result of accelerated production by the company in order to accomplish its objective for the 787 Dreamliner.
According to Boeings statement, the 787 Dreamliners deliveries increased by 75%. A surge over the fourth fiscal quarter facilitated the deliveries, boosting them to 114. A total of 723 jets were delivered by the U.S.-based company during the whole year, which is a 12% increase in comparison with the number of planes delivered a year earlier. The jet manufacturer had previously projected its deliveries would be within the range between 715 and 725.
The net new orders of Boeing for 2014 amounted to 1 432 and were estimated to $232.7 billion at list prices. The total includes 1 104 orders for the U.S.-based companys 737 model. This was a record number of jets, which also outstripped the previous record of 1 355 jets ordered in 2013.
Howard Rubel, an analyst at Jefferies LLC, commented on the companys report for Bloomberg: “Not only are they great numbers but they also demonstrate that they could operate the 787 factory at a high rate and satisfy their customers. You’ve got to give them some credit for hitting the target and then some.”
Boeing also noted that the deal cancellations during the period decreased.
Both Boeing and its largest rival, Airbus Group NV, which is expected to present its 2014 report during the upcoming week, have been focused primarily on expanding production of already existing jets. The companies are also preparing to launch several new models. According to a person with knowledge of the matter, who asked not to be named, Airbus was ahead of Boeing on both gross and net orders during the year.
Boeing Co. lost 1.18% to close at $127.53 per share yesterday, marking a one-year drop of 7.86%. The company is valued at $92.00 billion. According to CNN Money, the 21 analysts offering 12-month price forecasts for Boeing Co. have a median target of $150.00, with a high estimate of $175.00 and a low estimate of $101.00. The median estimate represents a +17.62% increase from the last price of $127.53.
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