Boeing Posts $24.188 Billion in Revenue and Core Loss of $0.34 per Share
Key Facts
Boeing reported third-quarter 2026 revenue of $24.188 billion, up 4% from $23.270 billion a year earlier, while posting a core loss of $0.34 per share and a GAAP diluted loss of $0.26. The core loss was wider than analysts’ average estimate of $0.24 per share, while revenue fell short of expectations of $24.39 billion, according to Investing.com data. Year over year, the core loss per share improved from $7.47 in the third quarter of 2025. Performance varied sharply across divisions: commercial aircraft remained loss-making, while defense and services revenue grew. Boeing shares fell 9.59% to $170.26 at 1:08 p.m. Eastern Time on October 27, approaching the 52-week low of $168.42.
Commercial Airplanes revenue fell 3% to $10.720 billion, and the unit posted an operating loss of $697 million and a negative operating margin of 6.5%. Boeing attributed the performance to a less favorable delivery mix, higher expected costs for future production-rate changes, and increased estimated supply-chain costs. By contrast, Defense, Space & Security revenue rose 15% to $7.935 billion, with operating earnings of $492 million and a margin of 6.2%. The segment’s results included a $252 million gain from the sale of HRL Laboratories. Global Services revenue also rose 4% to $5.574 billion, generating operating earnings of $1.019 billion and a margin of 18.3%.
Free cash flow was $464 million in the third quarter, compared with $238 million in the same period a year earlier, but remained negative at $359 million for the first nine months of 2026. Boeing said working-capital timing supported operating cash flow, partly offset by about $0.7 billion in settlement payments to the Justice Department. The company’s revenue rose 8% to $70.965 billion in the first nine months, from $65.515 billion in the corresponding period of 2025. Cash and marketable securities totaled $20.7 billion at quarter-end, compared with $20.0 billion at the start of the quarter. Consolidated debt reached $45.9 billion.
Total backlog reached a record $745.431 billion on September 30, including $611.833 billion for commercial aircraft and $100.505 billion for Defense, Space & Security. Commercial Airplanes recorded 300 net orders during the quarter, including orders from Turkish Airlines, Ethiopian Airlines and Lufthansa. The U.S. Navy selected Boeing to design, build and deliver the next-generation F/A-XX fighter. The order has not yet been added to backlog, pending completion of the selection and evaluation review. Chief Executive Kelly Ortberg said the company would remain focused on safety and quality while intensifying efforts to simplify work and maintain execution discipline.
Boeing said the 737 program continues to progress toward stabilizing production at 47 aircraft per month, while 787 production continues at 8 aircraft per month. The company said the 777X program continues certification flight testing of the 777-9, with the first delivery still targeted for 2027. The company said the 737-7 received an amended type certificate from the Federal Aviation Administration, while the 737-10 received certification in October. These production plans and upcoming deliveries put practical pressure on Boeing’s ability to turn its large backlog into revenue and cash flow. 2027 remains Boeing’s target for the first delivery from the 777X program.