BOEING (BA) Q1 FY26 earnings call

Earnings call· Mar 2026 (Q1 FY26)· Industrials· Apr 22, 2026

Source: earnings call transcript

Boeing's recovery is compounding: all three segments grew, production rates are stabilizing ahead of planned step-ups, and it was a clean quarter with no major EAC charges. Management reaffirmed positive full-year cash flow. Forward risk now centers on certification gates (737-7/-10, 777X), 787 supply-chain and seat-cert bottlenecks, and fuel-driven Middle East aftermarket exposure.

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BA operating KPIs by quarter

BA operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2025 Q1 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	This call Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Aircraft deliveries BCA	—	160 BCA delivered 160 airplanes in the quarter, the highest quarterly delivery total since 2018. Source: earnings call transcript	160 BCA delivered 160 airplanes in the quarter and 600 for the year, the highest annual total since 2018. Source: earnings call transcript	143 BCA delivered 143 airplanes in the quarter. Source: earnings call transcript	171 BCA again made solid progress in its production performance by delivering 171 airplanes in the quarter, the highest quarterly total since 2018. Source: earnings call transcript	+19.6%
Backlog BCA	—	$535B Backlog in the quarter ended at $535 billion and includes more than 5,900 airplanes, with the 737 and 787 both sold firm into the next decade. Source: earnings call transcript	$567B Importantly, BCA booked 1,173 net orders for the year and backlog ended at a record-setting $567 billion that includes over 6,100 airplanes with the 737 and 787 both sold firm into the next decade. Source: earnings call transcript	$576B Importantly, backlog continued to grow and remains at an all-time high of $576 billion, including over 6,100 airplanes. Source: earnings call transcript	$597B Backlog continued to grow and remains at a record level of $597 billion, including over 6,200 airplanes. Source: earnings call transcript	+3.6%
Aircraft deliveries 737	105 The 737 program delivered 105 airplanes in the quarter, including 33 in March. Source: earnings call transcript	121 The 737 program delivered 121 airplanes in the quarter, including 41 in September. Source: earnings call transcript	117 Starting with the 737 program, BCA delivered 117 airplanes in the quarter and 447 for the year, in line with expectations shared last month. Source: earnings call transcript	114 Starting with the 737 program where we delivered 114 airplanes in the quarter, which included the final [indiscernible] airplane built prior to 2023. Source: earnings call transcript	129 We delivered 129 airplanes in the quarter and remain on track to deliver 500 airplanes this year. Source: earnings call transcript	+13.2%
Aircraft deliveries 787	13 On the 787, we delivered 13 airplanes in the quarter, generally in line with expectations outlined on our last earnings call. Source: earnings call transcript	24 On the 787, we delivered 24 airplanes in the third quarter and ended with approximately 10 787 airplanes in inventory that were built prior to 2023, down 5 from last quarter. Source: earnings call transcript	27 On the 787, we delivered 27 airplanes in the quarter and 88% for the year. Source: earnings call transcript	15 On the 787, we delivered 15 airplanes in the quarter, in line with expectations shared last month and remain on track to deliver 90 to 100 airplanes in the year. Source: earnings call transcript	25 We delivered 25 airplanes, including 13 in June and remain on track to deliver 90 to 100 airplanes this year. Source: earnings call transcript	+66.7%
Orders BDS	$4B BDS booked $4 billion in orders during the quarter, and the backlog ended at $62 billion. Source: earnings call transcript	$9B BDS booked $9 billion in order during the quarter, and backlog grew to a record $76 billion. Source: earnings call transcript	$15M BDS booked $15 million in orders during the quarter, including awards for 15, KC-46A Tankers from the US Air Force and 96 Apaches from Poland both contributing to backlog that grew to a record $85 billion. Source: earnings call transcript	$9B BDS booked $9 billion in orders through a quarter, including notable awards to continue E7 Westeel development and additional international demand for KC-46 aircraft. Source: earnings call transcript	$7B BDS booked $7 billion in orders during the quarter, and backlog remained strong at $85 billion. Source: earnings call transcript	-22.2%
Backlog BDS	$62B BDS booked $4 billion in orders during the quarter, and the backlog ended at $62 billion. Source: earnings call transcript	$76B BDS booked $9 billion in order during the quarter, and backlog grew to a record $76 billion. Source: earnings call transcript	$85B BDS booked $15 million in orders during the quarter, including awards for 15, KC-46A Tankers from the US Air Force and 96 Apaches from Poland both contributing to backlog that grew to a record $85 billion. Source: earnings call transcript	$86B Backlog grew to a record $86 billion. Source: earnings call transcript	$85B BDS booked $7 billion in orders during the quarter, and backlog remained strong at $85 billion. Source: earnings call transcript	-1.2%
Aircraft deliveries BDS	26 BDS delivered 26 aircraft in the quarter. Source: earnings call transcript	30 BDS delivered 30 aircraft and 2 satellites in the quarter and revenue grew 25% to $6.9 billion on improved operational performance and higher volume. Source: earnings call transcript	37 BDS delivered 37 aircraft in the quarter, and revenue grew 37% to $7.4 billion on improved operational performance and higher volume. Source: earnings call transcript	29 BDS delivered 29 aircraft and 1 satellite in the quarter. Source: earnings call transcript	35 BDS delivered 35 aircraft in the quarter. Source: earnings call transcript	+20.7%
Orders BGS	—	$8B The business also received $8 billion in orders with a year-to-date book-to-bill of 1.2. Source: earnings call transcript	$10B BGS also received $10 billion of orders in the quarter, and an annual high of $28 billion in 2025, and the business ended the year with a record backlog of $30 billion. Source: earnings call transcript	$8B BGS received $8 billion of orders for a book-to-bill of [ 1.6 ] in the quarter, led by a strong intake from its government business. Source: earnings call transcript	$5B BGS received $5 billion of orders and ended the quarter with a backlog of $33 billion. Source: earnings call transcript	-37.5%
Backlog BGS	—	—	$30B BGS also received $10 billion of orders in the quarter, and an annual high of $28 billion in 2025, and the business ended the year with a record backlog of $30 billion. Source: earnings call transcript	<$33B BGS ended the quarter PAUSE with record backlog now at nearly $33 billion and remains a high-performing business focused on profitable, capital efficient, service offerings and continues to execute very well. Source: earnings call transcript	$33B BGS received $5 billion of orders and ended the quarter with a backlog of $33 billion. Source: earnings call transcript	—
Backlog	—	$600B+ We're well positioned to build on the momentum, delivering on our more than $600 billion backlog and restore Boeing to the company we all know it can be. Source: earnings call transcript	—	—	$715B We have a stronger foundation to build upon our operations are more stable, and we're ramping up production to deliver on our record $715 billion backlog. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.