Boeing Q3 revenue rises 4% to $24.2B, core loss of $0.34 a share; free cash flow stays positive at $464M
Boeing reported Q3 revenue of $24.2 billion and a core loss of $0.34 per share, wider than the $0.21 loss analysts expected per LSEG. Commercial Airplanes stayed in the red, defense revenue rose 15%, and free cash flow was $464 million.
Boeing (BA) reported third-quarter results at 7:30 a.m. ET on Tuesday.
| Item | Q3 2026 | Q3 2025 |
|---|---|---|
| Revenue | $24.188B (+4%) | $23.270B |
| Core (non-GAAP) EPS | -$0.34 (LSEG est. -$0.21) | -$7.47 |
| Free cash flow | $464M | – |
| Commercial deliveries | 161 | 160 |
| Total backlog | $745B (record) | – |
How to read it: the loss is a fraction of last year’s, which carried a large 777X charge, but it was still wider than the consensus Reuters cited.
By segment, Commercial Airplanes revenue fell 3% to $10.72 billion with a -6.5% operating margin. Defense, Space & Security revenue rose 15% to $7.935 billion with a 6.2% margin, and Global Services posted an 18.3% margin. Boeing said it is working toward stabilized 737 output of 47 a month, with the 787 steady at 8 a month. CEO Kelly Ortberg said wing supply is the bottleneck, according to Reuters.
Why it matters: the pace of Boeing’s recovery hinges on the 737 ramp. Positive free cash flow again this quarter helps, but until the commercial unit stops losing money, cutting net debt ($25.2 billion, per Reuters) will be slow.
Next: on the earnings call, timing for 47 a month and the fourth-quarter cash flow outlook, plus the first regular-session reaction. Track U.S. movers at /en/markets/local/ and the season at /en/earnings/.
Sources
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