Boeing delivers 161 aircraft in third quarter of 2026

The Boeing Company reported third-quarter revenue of $24.2 billion, up 4% from $23.27 billion a year earlier, primarily reflecting higher defence and services volume and a less favourable commercial delivery mix. The company recorded a GAAP net loss of $116 million, or $0.26 per share, and a core loss of $0.34 per share. Operating cash flow reached $1.5 billion, while free cash flow was $500 million. Boeing’s total backlog grew to a record $745 billion at the end of the quarter.

“Recent milestones, including certification of the 737-7 and 737-10 and selection to design and build the Navy's sixth-generation fighter aircraft, are important steps as we continue building on our progress, said Kelly Ortberg, Boeing president and chief executive officer. "But we are not done. We remain focused on safety and quality as we redouble our efforts on Lean and disciplined execution to deliver on our commitments and build the durable performance our stakeholders expect.”

Operating cash flow stood at $1.5 billion for the quarter, driven by working capital timing and partially offset by approximately $0.7 billion in Department of Justice settlement payments. Additions to property, plant and equipment primarily reflected higher investments at the Charleston and St. Louis sites. Boeing’s cash and investments in marketable securities totalled $20.7 billion, up from $20.0 billion at the start of the quarter, primarily reflecting cash generated during the period. The company maintains access to credit facilities of $10.0 billion, which remain undrawn.

Commercial Airplanes reported third-quarter revenue of $10.7 billion, down 3% from $11.1 billion a year earlier. The segment recorded an operating loss of $697 million, with an operating margin of -6.5%. Boeing said the results primarily reflected a less favourable delivery mix, higher projected costs associated with future production rate adjustments and higher estimated supply chain costs. The third-quarter 2025 operating margin had been affected by a charge on the 777X programme.

Boeing said its 737 programme is progressing towards a stabilised production rate of 47 aircraft per month. During the quarter, the 737-7 received amended type certification from the Federal Aviation Administration (FAA), while the 737-10 received certification in October. The 787 programme continues to maintain a stable production rate of eight aircraft per month. Meanwhile, the 777X programme continued its 777-9 certification flight testing and remains on track for first delivery in 2027.

Boeing Commercial Airplanes secured 300 net orders during the quarter, including orders from Turkish Airlines, Ethiopian Airlines and Lufthansa. The division delivered 161 aircraft, while its backlog stood at more than 6,300 aircraft valued at a record $612 billion.

Boeing’s Defense, Space & Security division reported third-quarter revenue of $7.9 billion, driven by higher volume. Its operating margin was 6.2%, primarily reflecting a $252 million gain from the sale of HRL Laboratories and improved operational performance.

During the quarter, the division was selected by the US Navy to design, build and deliver the F/A-XX next-generation fighter aircraft. The contract has not yet been included in the backlog, pending completion of the source selection and evaluation review process. Boeing also secured a seven-year contract to expand PAC-3 Seeker production.

The division’s backlog grew to a record $101 billion, with 23% comprising orders from customers outside the US.

Boeing’s Global Services division reported third-quarter revenue of $5.6 billion, driven by higher volume. Its operating margin stood at 18.3%, reflecting a favourable volume and delivery mix.

During the quarter, the division secured a contract from the US Army to provide maintenance services for the AH-64 Apache fleet. Global Services ended the quarter with a backlog of $33 billion.