Boeing commercial aircraft deliveries

What happened: Boeing's commercial aircraft deliveries surged in Q1 2023, with 143 jets delivered, a 10% increase YoY. The company's stock rose 5% following this news. Boeing CEO Kelly Ortberg confirmed the company met FAA requirements to increase 737 Max production to 47 jets per month, from the current 42. In April, Boeing delivered 47 jets, one more than in March. Treasury Secretary Scott Bessent hinted at 'large' orders from China, boosting Boeing's stock by 3%.

Market impact: The increase in deliveries and production rate signals a recovery in Boeing's commercial aircraft business, benefiting investors. This narrative positively impacts aerospace and defense stocks, with Boeing (NYSE:BA) being one of the best defense stocks. The potential large orders from China could further boost Boeing's stock and revenue.

What to watch next: Boeing's Q2 2023 earnings report (July 26) will provide insights into the sustainability of the delivery momentum and potential China orders. Additionally, the FAA's decision on new 737 Max certifications this year will be crucial for Boeing's production and delivery targets.