Boeing earnings for the third quarter of 2026 showed a narrower net loss and higher revenue, as defense sales rose. Revenue exceeded analyst expectations, but the adjusted loss per share was wider than forecast.
Key Takeaways
- Boeing reported a $116 million net loss, compared with a $5.34 billion loss a year earlier.
- Defense revenue rose 15%, while commercial aircraft revenue fell 3%.
- The company expects to increase 737 Max production next year.
Boeing earnings beat revenue expectations
For the three months ended September 30, Boeing reported revenue of $24.19 billion, up 4% from a year earlier. Its net loss amounted to 26 cents per share, compared with a loss of $7.14 per share in the third quarter of 2025.
The adjusted loss, which excludes one-time items, was 34 cents per share. Analysts surveyed by LSEG had expected a 21-cent adjusted loss and $23.84 billion in revenue.
A year earlier, Boeing had taken a nearly $5 billion charge on its delayed 777X aircraft program. Free cash flow rose to $464 million from $238 million in the third quarter of 2025.
| Item | Details |
|---|---|
| Revenue | $24.19 billion reported; $23.84 billion expected |
| Adjusted loss per share | 34 cents reported; 21 cents expected |
Defense grows as commercial margins weaken
Defense revenue increased 15% from a year earlier to $7.94 billion. Commercial aircraft revenue fell 3% to $10.72 billion, even as Boeing delivered 161 commercial planes, one more than a year earlier.
The commercial unit posted a negative operating margin of 6.5%. Boeing attributed the result to a less favorable delivery mix, higher projected costs associated with future production-rate adjustments and higher estimated supply-chain costs.
737 Max production remains in focus
Boeing has been producing about 47 737 Max planes a month and expects to increase output next year. CEO Kelly Ortberg told investors in September that production was taking “a little bit longer” than expected to stabilize.
Production and deliveries are important to Boeing because customers pay the bulk of an aircraft’s price when they receive it. The Federal Aviation Administration approved the 737 Max 10 in the week before the results, following approval of the Max 7 in August.
Next milestone
Boeing executives are scheduled to discuss production plans on their earnings call at 10:30 a.m. ET on October 27.
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