Boeing union recommends members accept contract offer; stock rises 2%

SPEEA, the union representing Boeing engineers and technical staff, advised members to accept the company's current contract offer. The deal includes a 10% wage increase effective Oct. 2, a further 4% in March 2027, and a 6% wage pool in later years guaranteeing at least 4% lifts. Additional paid time off and higher 401(k) contributions are included. The recommendation follows a rejected offer in August that had also been approved by the bargaining committee. Boeing stock rose 2% on the news. The company faces production caps and CEO Kelly Ortberg recently said it would take longer to increase 737 Max output. Boeing's 2026 free cash flow guidance is $1-3 billion, with a long-term target of $10 billion.