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Boeing's recent announcement revealed the company's inability to meet its 737 Max delivery target for this year.

Boeing reported a third quarter miss on both the top and bottom lines and cut its delivery forecast for its 737 Max narrowbody jet due to ongoing production issues. The aerospace giant did reaffirm its cash flow guidance, which gave shares a boost.

As part of the agreement, Boeing has agreed to provide Spirit $100 million immediately for capital investment in tooling.

The planemaker in August identified a new quality problem with its popular 737 MAX aircraft involving supplier Spirit that resulted in improperly drilled holes on the aft pressure bulkhead made using an automated drill. Boeing has expanded inspections to include hand-drilled holes, according to trade publication The Air Current, which first reported the problem.

WASHINGTON (Reuters) -Boeing deliveries of its best-selling 737 MAX fell in September to the lowest level since August 2021, the plane maker said on Tuesday, as it continues struggling with work needed to correct a manufacturing defect. Boeing is inspecting and fixing thousands of holes that were drilled wrong on the 737 MAX aft pressure bulkhead. While new orders improved sharply, the largest U.S. planemaker said deliveries in September fell to 15 737 MAX planes, 10 787s and two 777s, for a total of 27 deliveries.