10-QPeriod: Q2 FY2026

BOEING CO Quarterly Report for Q2 Ended Jun 30, 2026

Filed July 28, 2026For Securities:BABA-PA

Summary

Boeing Company reported a net loss attributable to shareholders of $620 million ($0.79 per share) for the six months ended June 30, 2026, compared to a net loss of $820 million ($1.09 per share) in the same period of 2025. While the company saw an increase in total revenues to $46.8 billion in the first half of 2026 from $42.2 billion in the prior year, persistent losses, particularly in the Commercial Airplanes segment, continue to weigh on profitability. Despite revenue growth driven by the Defense, Space & Security and Commercial Airplanes segments, the company's overall financial performance remains challenged, reflected in a GAAP loss from operations of $604 million for the first half of 2026. Significant events impacting the period include the ongoing integration of Spirit AeroSystems, which contributed $8.39 billion to the purchase price and added substantial goodwill and acquired intangible assets to the balance sheet. The company also continues to manage substantial inventories, which increased to $88.4 billion. While investing activities generated positive cash flow driven by net proceeds from investments, financing activities resulted in a significant net use of cash due to debt repayments. The company maintains substantial backlog, providing a degree of future revenue visibility, but faces ongoing risks related to production challenges, supply chain disruptions, and regulatory approvals for key aircraft programs.

Key Highlights

  • 1Total revenues increased to $46.8 billion for the six months ended June 30, 2026, up from $42.2 billion in the prior year period, driven by growth in Defense, Space & Security and Commercial Airplanes.
  • 2Boeing reported a net loss attributable to common shareholders of $620 million ($0.79 per share) for the first half of 2026, a slight improvement from a $820 million loss ($1.09 per share) in the same period of 2025.
  • 3The Commercial Airplanes segment continued to report operating losses, with a loss of $885 million for the first half of 2026, though this was an improvement from a $1.09 billion loss in the prior year.
  • 4The acquisition of Spirit AeroSystems was completed in December 2025 for $8.39 billion, adding significant goodwill and acquired intangible assets to the balance sheet, primarily within the Commercial Airplanes segment.
  • 5Inventories increased to $88.4 billion as of June 30, 2026, from $84.7 billion at December 31, 2025, indicating higher work-in-progress and finished goods.
  • 6Cash flow from operations was positive at $1.2 billion for the first six months of 2026, a significant turnaround from a $1.4 billion outflow in the prior year, largely due to favorable changes in working capital.
  • 7The company maintains a substantial backlog of $715.3 billion as of June 30, 2026, offering a significant order pipeline, though subject to uncertainty regarding conversion to revenue.

Frequently Asked Questions

For the six months ended June 30, 2026, Boeing reported a net loss attributable to common shareholders of $620 million, or $0.79 per share. This represents an improvement compared to the net loss of $820 million, or $1.09 per share, for the same period in 2025.

The acquisition of Spirit AeroSystems, completed in December 2025 for $8.39 billion, significantly impacted Boeing's balance sheet. It resulted in the recognition of approximately $10.3 billion in goodwill and $173 million in acquired intangible assets, primarily allocated to the Commercial Airplanes segment. The integration costs and accounting for the acquisition are ongoing.

The Commercial Airplanes segment continued to incur operating losses in the first half of 2026, reporting a loss of $885 million. While this is an improvement from the $1.09 billion loss in the first half of 2025, the segment's profitability remains a key area of concern. Revenue increased due to higher deliveries of 737 and 787 programs, but this was offset by higher research and development spending and program-specific charges.

Boeing reported $7.2 billion in cash and $12.8 billion in short-term investments as of June 30, 2026. Cash flow from operations turned positive in the first half of 2026, generating $1.2 billion, a significant improvement from the prior year. Debt levels decreased to $45.9 billion from $54.1 billion at the end of 2025, primarily due to debt repayments. The company also has substantial unused borrowing capacity on its credit lines.