Boeing stock sinks 9% as company says it won't significantly ramp up 737 Max production until late 2027

BREAKING: $BA sinks 9% after Boeing says it won't significantly ramp up 737 Max production until late 2027.

Boeing just told Wall Street to wait another year, and the stock dropped nine percent.

The company says it won't significantly ramp up 737 Max production until the second half of 2027. Right now they're building about 47 a month, and the target is 52, which doesn't sound like a huge leap until you learn the holdup is wings. They can't make them fast enough. CEO Kelly Ortberg's line was, I know everybody wants us to go faster, but we're going to do it right. After the last few years, honestly, fair.

And the weird part is the quarter itself wasn't terrible. Losses narrowed to 116 million from over five billion a year ago, revenue climbed to 24 billion, defence jumped 15 percent, and the FAA just certified the Max 10. The business is healing.

But Boeing gets paid when planes get delivered, and the market just heard that the delivery machine stays stuck until late 2027. Nine percent is the price of patience.

This is Sara White, reporting for HIT.