Boeing Posts $354 Million Operating Profit After A $4.8 Billion Loss, But Jetliner Unit Still Bleeds
The planemaker's commercial airplane unit lost $697 million in the third quarter while defense and services carried the company into the black.
Boeing, which builds jetliners, defense systems and satellites, earned $354 million from operations in the third quarter, against a $4.8 billion operating loss a year earlier, the company said Tuesday. It still lost money on a net basis, and its commercial airplane unit remained in the red.
A smaller loss, not yet a profit
Revenue rose 4% to $24.2 billion, which the company attributed mainly to higher defense and services volume and a less favorable mix of commercial jets delivered. The net loss narrowed to $116 million, or $0.26 per share, from $5.3 billion, or $7.14 per share, a year earlier. On the company's core measure, which strips out pension-related items, the loss was $0.34 per share.
Boeing's CEO Kelly Ortberg said milestones such as certification of the 737-7 and 737-10 are "important steps," but added: "But we are not done." The 737-7 won amended certification from the FAA in the quarter, and the 737-10 followed in October.
Jetliners lose $697 million
Commercial Airplanes lost $697 million on $10.7 billion of revenue, which fell 3%. The company cited the delivery mix, higher projected costs tied to future production-rate changes and higher estimated supply chain costs. A year earlier the unit lost $5.4 billion, a figure that included a charge on the 777X program.
The unit delivered 161 airplanes against 160 a year earlier, with 737 deliveries at 124. The 737 program is working toward stabilized production of 47 per month, the 787 holds at 8 per month, and the 777X remains on track for first delivery in 2027.
Defense and services carry the quarter
Defense, Space & Security earned $492 million as revenue climbed 15% to $7.9 billion. A $252 million gain on the sale of HRL Laboratories and better operating performance lifted the margin to 6.2%. Global Services earned $1.019 billion on $5.6 billion of revenue, up 4%.
The Navy selected Boeing to design, build and deliver its F/A-XX next-generation fighter; that order is not yet in backlog pending the source selection and evaluation review. Boeing also won a seven-year award to expand PAC-3 Seeker production.
Cash, debt and a record backlog
Operating cash flow was $1.5 billion and free cash flow $464 million, after roughly $0.7 billion of Department of Justice settlement payments. Cash and marketable securities stood at $20.7 billion, and consolidated debt was $45.9 billion. Credit facilities of $10.0 billion remain undrawn.
Total backlog hit a record $745 billion, including over 6,300 commercial airplanes valued at a record $612 billion.
Commercial Airplanes has lost $1.582 billion over the first nine months of 2026, compared with $6.447 billion in the same stretch of 2025.
Sources
- 8-K Filing — BOEING CO (BA) — SEC EDGAR
- Exhibit a202609sep308kprex991.htm — BOEING CO 8-K exhibit — SEC EDGAR
- Boeing (BA) Stock Looks About Right As MAX 10 Certification Lands — Yahoo Finance
- Boeing Reports Third Quarter Results — prnewswire.com
