The Boeing Company (BA) investor relations material

Executive summary

• Revenue rose 14% year-over-year to $22.2 billion, driven by higher commercial deliveries, improved operational performance, and momentum across commercial, defense, and services segments.

• Net loss attributable to shareholders was $90 million, a significant improvement from the prior year, with core (non-GAAP) loss per share at ($0.20).

• Focus remains on stabilizing the business, improving execution, and building for the future.

• Total backlog reached a record $695 billion, with over 6,100 commercial airplanes in backlog.

• Integration of Spirit AeroSystems progressing, expected to drive synergies in the commercial segment.

Financial highlights

• Consolidated revenue up 14% year-over-year to $22.2 billion, with growth in all segments.

• Operating margin at 2.0%, down from 2.4% year-over-year.

• Core loss per share improved to ($0.20) from ($0.49) year-over-year.

• Free cash flow (non-GAAP) usage of $1.5 billion, better than expected due to recovery from 737 wiring issue.

• Cash and marketable securities at $20.9 billion; consolidated debt reduced to $47.2 billion.

Outlook and guidance

• Backlog at March 31, 2026, was $694.7 billion, with 24% expected to convert to revenue by 2027.

• Expecting positive free cash flow of $1–3 billion for 2026, with improvement in the second half.

• Certification of 737-7 and 737-10 expected in 2026, with first deliveries anticipated in 2027.

• No current delivery deferrals or material supply chain disruptions anticipated.

• Management expects higher capital expenditures in 2026 compared to 2025.