Boeing Stock Is Rising Wednesday: Here's Why

Boeing Co BA shares are trading higher Wednesday after the company’s chief financial officer provided an upbeat outlook at an investor conference.

What Happened: Wednesday at the Bank of America Global Industrials Conference, Boeing CFO Brian West said the company’s cash burn is easing and Boeing is on track to deliver more planes than previously expected, according to a Wall Street Journal report.

“We think we're off to a good start for the year," West reportedly said at the conference.

The report indicates that West estimated that Boeing’s cash burn improvement could be “hundreds of millions” of dollars. The Boeing CFO also said plane deliveries could end up being higher than previously expected.

According to Benzinga Pro, West doesn’t anticipate any impact to the company’s goal of 38 jets per month, or any near-term impacts from the SPS Technologies fires, given elevated inventory levels. The Boeing CFO expects 737 deliveries in March to be approximately in line with February.

Boeing announced last week that it delivered 44 jets in February, up from 27 year-over-year. The company said it delivered 32 of its 737 MAX jets last month.

Check This Out: Japan Airlines Orders More Boeing 737-8 Jets Amid Global Fleet Expansion Plans

West also noted at the conference that Boeing doesn’t anticipate near-term impacts on its supply chain due to tariffs. The company gets most of its parts from the U.S. and has built up a large backlog due to production slowdowns last year.

BA Price Action: Boeing shares were up 6.68% at $172.37 at the time of publication Wednesday, according to Benzinga Pro.

Photo: Shutterstock.