By Sam Boughedda
On Wednesday, Boeing (NYSE:) Chief Financial Officer Brian West told investors it believes it will generate between $3 billion and $5 billion in free cash flow next year.
The company made the prediction at its investor conference, based on expectations that it will increase deliveries of its 737 MAX and 787 jets.
Boeing shares jumped Wednesday, hitting a high of $151.76 per share. At the time of writing, they are trading at $146.68, up 2.3%.
West stated the Arlington, Virginia-based company expects to deliver between 400 and 450 MAX airplanes next year, well above the 375 it expects to deliver this year. It also expects to deliver 70 to 80 787 planes in 2023.
Boeing’s business has suffered significantly in recent years from various issues, while supply chain problems and labor shortages have hindered its output and deliveries of new planes more recently.
