Boeing (BA) Q3 2025 earnings

BoeingDeliveries of its jetliners put the company back in cash-positive territory for the first time in nearly two years, but it took a $4.9 billion charge on additional delays to its long-awaited 777X widebody jet.

Boeing is on track to deliver the most planes this year since 2018, before two accidents grounded its best-selling jet, the Covid pandemic battered supply chains and a host of manufacturing crises led to years of losses at the largest US exporter.

CEO Kelly Ortberg, an aviation veteran who came out of retirement to lead Boeing in August 2024, has worked to stabilize the manufacturer’s sprawling supply chain and cash-generating production lines.

The 777X, an updated version of its 777, made its maiden flight nearly six years ago but has yet to receive regulatory approval. Boeing says it now expects the first delivery in 2027, triggering a cashless charge.

“Although there is still more work to be done to strengthen our development programs, particularly in our commercial development and certification programs, we are seeing positive signs across our business, and I am proud of how we are coming together to transform our company,” Ortberg said in a memo to employees.

However, Boeing generated free cash flow of $238 million, the first time it has recorded a decline on this metric since late 2023.

Boeing lost $4.78 billion, or $7.14 per share, in the three months ended September 30. That’s better than the $5.76 billion loss the previous year. On an adjusted basis, the company reported a loss of $7.47 per share. Revenue jumped 30% to $23.27 billion for the third quarter, up from $17.84 billion a year ago, and ahead of analysts’ estimates.

Here is Boeing’s third-quarter performance compared to analyst estimates compiled by LSEG:

• Loss per share: $7.47 per share was adjusted for an expected loss of $4.59
• profit: $23.27 billion compared to $21.97 billion expected

Airline customers said they had seen improvement at Boeing, with more accurate delivery forecasts and a change in tone compared to complaints in previous years.

In the first nine months of the year, Boeing delivered 440 aircraft, compared to 291 aircraft in the same period last year. Airlines and other customers pay for the bulk of planes as they take delivery, so increasing the pace of deliveries is key for Boeing to stem a cash outflow that totals nearly $17 billion from the start of 2024 through June of this year.

Last year was supposed to be a turnaround year for Boeing, but a mid-air door panel explosion in January 2024 led to a near-disaster and increased federal scrutiny that slowed production.

But Boeing has made progress. Earlier this month, the Federal Aviation Administration raised the limit on production of Boeing 737 MAX planes to 42 per month from 38, a restriction it imposed after the accident.

The FAA is also now allowing Boeing to perform final sign-offs on some of its planes, a sign of increased confidence on the part of the regulator.

The company isn’t out of the woods yet. The Max 7, Max 10 and 777X are years behind schedule and have yet to receive regulatory approval.

About 3,200 defense unit workers who make F-15 fighter jets and missile systems have been on strike since the summer as the two sides have yet to reach a new contract.

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