Boeing earnings for the third quarter of 2026 included a narrower loss and a record $745 billion backlog, though revenue and core earnings missed analyst expectations. Shares rose 1.5% in after-hours trading.

Key Takeaways

  • Revenue rose 4% from a year earlier to $24.19 billion, falling $180 million short of estimates.
  • The non-GAAP core loss was $0.34 per share, missing expectations by $0.14.
  • Quarterly operating cash flow was positive at $1.5 billion, while free cash flow was $0.5 billion.

Boeing earnings and cash flow

Boeing reported its results on October 27. Revenue increased from $23.27 billion in the third quarter of 2025, while the net loss narrowed to $116 million from $5.34 billion. The GAAP diluted loss was $0.26 per share, compared with $7.14 a year earlier.

In its third-quarter results, Boeing attributed revenue primarily to higher defense and services volume, partly offset by a less favorable commercial delivery mix. The company said operating cash flow reflected working-capital timing, partly offset by approximately $0.7 billion in Department of Justice settlement payments.

Cash and marketable securities totaled $20.7 billion at quarter-end, while consolidated debt was $45.9 billion.

Commercial losses and defense growth

Commercial Airplanes delivered 161 aircraft, compared with 160 a year earlier. The division recorded a $697 million operating loss on revenue of $10.7 billion. Boeing attributed its margin partly to a less favorable delivery mix and higher projected production and supply-chain costs.

Defense, Space & Security revenue rose 15% to $7.9 billion. Boeing said the division’s operating margin reflected a $252 million gain on the sale of HRL Laboratories and improved operational performance.

Backlog and aircraft milestones

The record company backlog included more than 6,300 commercial aircraft. Boeing was also selected by the U.S. Navy to design and build the F/A-XX fighter aircraft, but said the order was not yet included in backlog pending completion of the source selection and evaluation review.

The Federal Aviation Administration granted amended type certification to the 737-7 during the quarter and to the 737-10 in October. Boeing said the 777-9 continued certification flight testing and remained on track for its first delivery in 2027.

Next milestone

The next aircraft milestone Boeing has identified is the planned first delivery of the 777-9 in 2027.

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