Boeing narrows Q3 loss as backlog hits record $745 billion

Boeing narrowed its third-quarter loss to 26 cents a share from $7.14 a year earlier, as defense growth and a record $745 billion backlog offset weaker margins in its commercial airplane business.

Revenue rose 4% to $24.2 billion, reflecting higher defense and services volume and a less favorable commercial delivery mix, according to the earnings release attached to its 8-K on Tuesday. The net loss shrank to $116 million from $5.339 billion, and the core loss per share, a non-GAAP measure, was 34 cents versus $7.47.

Operating cash flow was $1.5 billion and free cash flow was $0.5 billion, despite Justice Department settlement payments of about $0.7 billion in the quarter.

Milestones

The 737-7 received amended type certification from the Federal Aviation Administration during the quarter, and the 737-10 followed in October. Boeing was also selected by the U.S. Navy to design, build and deliver the F/A-XX next-generation fighter.

"But we are not done," President and CEO Kelly Ortberg said, adding that the company remains focused on safety, quality and "disciplined execution."

Segment picture

Commercial Airplanes delivered 161 jets, compared with 160 a year ago, and revenue fell 3% to $10.7 billion. The unit posted a negative 6.5% operating margin, reflecting delivery mix, higher projected costs tied to future production rate adjustments and higher supply chain costs. The 737 program continues to move toward stable production of 47 a month, and the 787 remains at 8 a month.

Defense, Space & Security revenue rose 15% to $7.9 billion, and its operating margin improved to 6.2%, helped by a $252 million gain on the sale of HRL Laboratories.

Boeing ended the quarter with $20.7 billion of cash and marketable securities and $45.9 billion of consolidated debt.

By the numbers

• Q3 revenue: $24.2 billion, up 4%
• GAAP loss per share: $0.26 vs. $7.14
• Free cash flow: $0.5 billion
• Backlog: record $745 billion, including over 6,300 commercial airplanes
• Commercial deliveries: 161

Sources

1. BOEING CO, Form 8-K with third quarter 2026 earnings release, filed Oct. 27, 2026 (accession 0001628280-26-067411)

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