Jun 2026 (Q2 FY26) — Jul 28, 2026
The Boeing Company Q2 FY26 — Production Ramps and Certification Progress
Read the full callBOEING (BA) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
BOEING earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 24,560 | +8.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 0.6 | +1.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -444 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
22 of 23 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 737 North Line start of operations | North Line in Everett begins operations later this year at a low rate of initial production | Mar 2026 | Earlier this month, we began low-rate MAX production on our North Line | Achieved |
| 787 production rate increase to 10 per month | Move to rate 10 per month sometime in 2026 | Sep 2025 | engine delivery recovery this summer, which will be important for our rate 10 timing | At Risk |
| 737 deliveries | Around 500 737 deliveries in 2026 | Dec 2025 | remain on track to deliver 500 airplanes this year | On Track |
1 of BOEING CO's 46 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 43 more targets are in the full ledger.
Claimed
- Commercial airplane deliveries reached 171 in the quarter, the highest quarterly total since 2018.
- Consolidated revenue increased 8% to $24.6 billion, driven by solid growth across all three segments.
- Free cash flow was positive $631 million, exceeding prior expectations for the quarter.
- BDS core operating margin (excluding VC-25B charge) was 3.5%, reflecting better operating performance.
- BGS revenue was up 8% year-over-year, excluding the impact of the Digital Aviation Solutions divestiture.
Qualified
- The VC-25B program incurred a $280 million charge due to additional investments to support the build and test schedule.
- 787 engine deliveries have fallen behind in the first half of the year, requiring a corrective action plan with GE.
- 787 seat certification delays are expected to continue through the balance of the year, leading to lumpy deliveries.
Price
$191.42 +0.64% · +$1.21
Performance −10.1% 1Y
1Y: $212.94 on 17 Oct 2025 → $191.42. High $252.15 (23 Jan 2026), low $179.12 (24 Nov 2025).
- Previous close
- $190.21
- 52-week range
- $179.12 – $252.15
- One year
- −11.71%
Overview
- Symbol
- BA
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
22 of 23 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 737 North Line start of operations | North Line in Everett begins operations later this year at a low rate of initial production | Mar 2026 | Earlier this month, we began low-rate MAX production on our North Line | Achieved |
| 787 production rate increase to 10 per month | Move to rate 10 per month sometime in 2026 | Sep 2025 | engine delivery recovery this summer, which will be important for our rate 10 timing | At Risk |
| 737 deliveries | Around 500 737 deliveries in 2026 | Dec 2025 | remain on track to deliver 500 airplanes this year | On Track |
Claimed
- Commercial airplane deliveries reached 171 in the quarter, the highest quarterly total since 2018.
- Consolidated revenue increased 8% to $24.6 billion, driven by solid growth across all three segments.
- Free cash flow was positive $631 million, exceeding prior expectations for the quarter.
- BDS core operating margin (excluding VC-25B charge) was 3.5%, reflecting better operating performance.
- BGS revenue was up 8% year-over-year, excluding the impact of the Digital Aviation Solutions divestiture.
Qualified
- The VC-25B program incurred a $280 million charge due to additional investments to support the build and test schedule.
- 787 engine deliveries have fallen behind in the first half of the year, requiring a corrective action plan with GE.
- 787 seat certification delays are expected to continue through the balance of the year, leading to lumpy deliveries.
The full ledger
Open BOEING CO’s full ledger
A free account opens 5 company ledgers a month. All 46 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 22, 2026
The Boeing Company Q1 FY26 — Rates stabilizing, all three segments grow, full-year positive cash flow reaffirmed
Read the full callDec 2025 (Q4 FY25) — Jan 27, 2026
The Boeing Company Q4 FY25 — Strong Commercial Deliveries and Record Backlog
Read the full callEvery analysed call
BOEING earnings calls (BA)
Financials
What the filings say
Net profit, year on year: +27% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 17,840 | 15,242 | 19,496 | 22,749 | 23,270 | 23,948 | 22,217 | 24,560 |
| Operating profit | -5,761 | -3,770 | 461 | -176 | -4,781 | 8,777 | 448 | 156 |
| Operating margin | −32.3% | −24.7% | 2.4% | −0.8% | −20.6% | 36.6% | 2.0% | 0.6% |
| Profit before tax | -6,224 | -4,093 | 76 | -561 | -5,199 | 8,319 | 26 | -365 |
| Tax rate | 0.8% | 5.7% | 140.8% | −9.1% | −2.7% | 1.2% | 126.9% | −17.3% |
| Net profit | -6,170 | -3,865 | -37 | -611 | -5,337 | 8,220 | -4 | -444 |
| EPS ($ per share) | -9.97 | — | -0.16 | -0.92 | -7.14 | — | -0.11 | -0.67 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 5,061 | 5,061 | 5,061 | 5,061 | 5,061 | 5,061 | 5,061 | 5,061 |
| Reserves | 55,941 | 50,644 | 38,610 | 34,408 | 29,473 | 27,251 | 15,362 | 17,252 |
| Total liabilities | 116,949 | 141,925 | 170,211 | 153,398 | 152,948 | 154,240 | 160,277 | 162,778 |
| Fixed assets | 12,645 | 12,502 | 11,820 | 10,918 | 10,550 | 10,661 | 11,412 | 15,361 |
| Investments | 927 | 545 | 17,838 | 8,192 | 2,606 | 3,274 | 12,481 | 18,479 |
| Total assets | 117,359 | 133,625 | 152,136 | 138,552 | 137,100 | 137,012 | 156,363 | 168,235 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 15,322 | -2,446 | -18,410 | -3,416 | 3,512 | 5,960 | -12,080 | 1,065 |
| Cash from investing | -4,621 | -1,530 | -18,366 | 9,324 | 4,370 | -2,437 | -11,973 | 499 |
| Cash from financing | -11,722 | 5,739 | 34,955 | -5,600 | -1,266 | -5,487 | 25,209 | -3,763 |
| Net cash flow | -1,074 | 1,758 | -1,736 | 269 | 6,543 | -1,934 | 1,109 | -2,159 |
| Capital expenditure | -1,722 | -1,834 | -1,303 | -980 | -1,222 | -1,527 | -2,230 | -2,942 |
| Free cash flow | 13,600 | -4,280 | -19,713 | -4,396 | 2,290 | 4,433 | -14,310 | -1,877 |
BA revenue by segment
Commercial Airplanes grew from 42% to 48% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Commercial Airplanes | 42% | — | 42% | 48% | 48% | 48% | 41% | 48% | +8.1% |
| Boeing Defense Space Security | 31% | 36% | 32% | 29% | 30% | — | 34% | 30% | +13.1% |
| Global Services | 27% | 3% | 26% | 23% | 23% | — | 24% | 22% | +1.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
BA operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Aircraft deliveries BCA | — | 160BCA delivered 160 airplanes in the quarter, the highest quarterly delivery total since 2018.Source: earnings call transcript | 160BCA delivered 160 airplanes in the quarter and 600 for the year, the highest annual total since 2018.Source: earnings call transcript | 143BCA delivered 143 airplanes in the quarter.Source: earnings call transcript | 171BCA 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 | — | $535BBacklog 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 | $567BImportantly, 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 | $576BImportantly, backlog continued to grow and remains at an all-time high of $576 billion, including over 6,100 airplanes.Source: earnings call transcript | $597BBacklog 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 | 105The 737 program delivered 105 airplanes in the quarter, including 33 in March.Source: earnings call transcript | 121The 737 program delivered 121 airplanes in the quarter, including 41 in September.Source: earnings call transcript | 117Starting 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 | 114Starting 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 | 129We 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 | 13On the 787, we delivered 13 airplanes in the quarter, generally in line with expectations outlined on our last earnings call.Source: earnings call transcript | 24On 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 | 27On the 787, we delivered 27 airplanes in the quarter and 88% for the year.Source: earnings call transcript | 15On 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 | 25We 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 | $4BBDS booked $4 billion in orders during the quarter, and the backlog ended at $62 billion.Source: earnings call transcript | $9BBDS booked $9 billion in order during the quarter, and backlog grew to a record $76 billion.Source: earnings call transcript | $15MBDS 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 | $9BBDS 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 | $7BBDS booked $7 billion in orders during the quarter, and backlog remained strong at $85 billion.Source: earnings call transcript | -22.2% |
| Backlog BDS | $62BBDS booked $4 billion in orders during the quarter, and the backlog ended at $62 billion.Source: earnings call transcript | $76BBDS booked $9 billion in order during the quarter, and backlog grew to a record $76 billion.Source: earnings call transcript | $85BBDS 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 | $86BBacklog grew to a record $86 billion.Source: earnings call transcript | $85BBDS booked $7 billion in orders during the quarter, and backlog remained strong at $85 billion.Source: earnings call transcript | -1.2% |
| Aircraft deliveries BDS | 26BDS delivered 26 aircraft in the quarter.Source: earnings call transcript | 30BDS 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 | 37BDS 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 | 29BDS delivered 29 aircraft and 1 satellite in the quarter.Source: earnings call transcript | 35BDS delivered 35 aircraft in the quarter.Source: earnings call transcript | +20.7% |
| Orders BGS | — | $8BThe business also received $8 billion in orders with a year-to-date book-to-bill of 1.2.Source: earnings call transcript | $10BBGS 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 | $8BBGS 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 | $5BBGS received $5 billion of orders and ended the quarter with a backlog of $33 billion.Source: earnings call transcript | -37.5% |
| Backlog BGS | — | — | $30BBGS 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 | <$33BBGS 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 | $33BBGS 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 | — | — | $715BWe 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.
Revenue by region
Q2 FY2026 · share of revenue
- Non Us 39% ↑ 4 pt
- US 39% ↑ 1 pt
- Europe 10% ↑ 2 pt
- Asia 10% ↓ 5 pt
- Middle East 9% ↑ 6 pt
- Other 4% ↑ 1 pt
As BA cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
59 filings between Nov 6, 2025 and Aug 28, 2026.
Open market
decisions to buy or sellPurchases
$898.4K
3 purchases by 3 insiders
Sales
$5.25M
5 sales by 3 insiders
Compensation
not trading decisions- 25
- Award — granted as compensation
- 24
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 disposition to issuer, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| McKenzie Howard E | — | $2.46M | Feb 5, 2026 |
| Schmidt Ann M | — | $1.53M | Feb 17, 2026 |
| Amuluru Uma M | — | $1.27M | Feb 24, 2026 |
| Buckley Mortimer J | $500.0K | — | Mar 3, 2026 |
| TILDEN BRADLEY D | $299.3K | — | May 20, 2026 |
| DEASY DANA S | $99.1K | — | Nov 24, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 28, 2026 | Parker Stephen Kenneth EVP, Pres. & CEO, BDS | Tax withheld | 630 | $131.7K |
| Aug 17, 2026 | MALAVE JESUS JR EVP and CFO | Tax withheld | 4,205 | $961.5K |
| Aug 14, 2026 | Raymond David Christopher EVP, Pres. & CEO, BGS | Gift | 907 | $0 |
| Aug 10, 2026 | Ortberg Robert Kelly President & CEO | Tax withheld | 6,233 | $1.46M |
| May 20, 2026 | TILDEN BRADLEY D Director | Purchase | 1,370 | $299.3K |
| Mar 3, 2026 | Buckley Mortimer J Director | Purchase | 2,230 | $500.0K |
| Feb 24, 2026 | Amuluru Uma M EVP and Chief HR Officer | Sale | 1,503 | $351.5K |
| Feb 24, 2026 | Shockey Jeffrey S EVP, Gov Ops, GPP & CS | Tax withheld | 4,444 | $1.03M |
| Feb 19, 2026 | McKenzie Howard E Chief Engineer & EVP, ET&T | Tax withheld | 966 | $228.6K |
| Feb 19, 2026 | Ortberg Robert Kelly President & CEO | Tax withheld | 5,017 | $1.19M |
| Feb 19, 2026 | DEASY DANA S CIDO, SVP IDT&S | Tax withheld | 815 | $192.9K |
| Feb 19, 2026 | Gerry Brett C. CLO & EVP, Global Compliance | Tax withheld | 1,446 | $342.3K |
| Feb 19, 2026 | Pope Stephanie F EVP, Pres. & CEO, BCA | Tax withheld | 3,167 | $749.6K |
| Feb 19, 2026 | Amuluru Uma M EVP and Chief HR Officer | Tax withheld | 1,233 | $291.8K |
| Feb 19, 2026 | Schmidt Ann M SVP, Chief Com & Brand Officer | Tax withheld | 500 | $118.4K |
| Feb 19, 2026 | Parker Stephen Kenneth EVP, Pres. & CEO, BDS | Tax withheld | 968 | $229.1K |
| Feb 19, 2026 | Raymond David Christopher EVP, Pres. & CEO, BGS | Tax withheld | 965 | $228.5K |
| Feb 19, 2026 | Cleary Michael J Controller | Tax withheld | 557 | $131.9K |
| Feb 17, 2026 | Parker Stephen Kenneth EVP, Pres. & CEO, BDS | Award | 9,290 | $0 |
| Feb 17, 2026 | Pope Stephanie F EVP, Pres. & CEO, BCA | Tax withheld | 4,144 | $1.00M |
| Feb 17, 2026 | Pope Stephanie F EVP, Pres. & CEO, BCA | Award | 8,258 | $0 |
| Feb 17, 2026 | Raymond David Christopher EVP, Pres. & CEO, BGS | Award | 2,147 | $0 |
| Feb 17, 2026 | Schmidt Ann M SVP, Chief Com & Brand Officer | Award | 1,238 | $0 |
| Feb 17, 2026 | Raymond David Christopher EVP, Pres. & CEO, BGS | Award | 5,368 | $0 |
| Feb 17, 2026 | Schmidt Ann M SVP, Chief Com & Brand Officer | Sale | 6,281 | $1.53M |
| Feb 17, 2026 | Pope Stephanie F EVP, Pres. & CEO, BCA | Award | 20,646 | $0 |
| Feb 17, 2026 | Schmidt Ann M SVP, Chief Com & Brand Officer | Award | 3,096 | $0 |
| Feb 17, 2026 | Amuluru Uma M EVP and Chief HR Officer | Award | 2,807 | $0 |
| Feb 17, 2026 | Shockey Jeffrey S EVP, Gov Ops, GPP & CS | Award | 2,064 | $0 |
| Feb 17, 2026 | Parker Stephen Kenneth EVP, Pres. & CEO, BDS | Award | 3,716 | $0 |
| Feb 17, 2026 | Cleary Michael J Controller | Award | 3,721 | $0 |
| Feb 17, 2026 | DEASY DANA S CIDO, SVP IDT&S | Award | 5,987 | $0 |
| Feb 17, 2026 | Shockey Jeffrey S EVP, Gov Ops, GPP & CS | Award | 5,161 | $0 |
| Feb 17, 2026 | Nelson Brendan J. SVP, President, Boeing Global | Award | 1,445 | $0 |
| Feb 17, 2026 | MALAVE JESUS JR EVP and CFO | Award | 5,368 | $0 |
| Feb 17, 2026 | MALAVE JESUS JR EVP and CFO | Award | 13,420 | $0 |
| Feb 17, 2026 | McKenzie Howard E Chief Engineer & EVP, ET&T | Tax withheld | 765 | $185.3K |
| Feb 17, 2026 | McKenzie Howard E Chief Engineer & EVP, ET&T | Award | 2,642 | $0 |
| Feb 17, 2026 | McKenzie Howard E Chief Engineer & EVP, ET&T | Award | 6,606 | $0 |
| Feb 17, 2026 | DEASY DANA S CIDO, SVP IDT&S | Award | 2,394 | $0 |
| Feb 17, 2026 | Ortberg Robert Kelly President & CEO | Award | 16,599 | $0 |
| Feb 17, 2026 | Amuluru Uma M EVP and Chief HR Officer | Award | 7,019 | $0 |
| Feb 17, 2026 | Ortberg Robert Kelly President & CEO | Award | 41,498 | $0 |
| Feb 17, 2026 | Gerry Brett C. CLO & EVP, Global Compliance | Award | 9,290 | $0 |
| Feb 17, 2026 | Gerry Brett C. CLO & EVP, Global Compliance | Award | 3,716 | $0 |
| Feb 17, 2026 | Gerry Brett C. CLO & EVP, Global Compliance | Tax withheld | 4,009 | $971.0K |
| Feb 17, 2026 | Parker Stephen Kenneth EVP, Pres. & CEO, BDS | Tax withheld | 484 | $117.3K |
| Feb 17, 2026 | Nelson Brendan J. SVP, President, Boeing Global | Award | 3,613 | $0 |
| Feb 5, 2026 | McKenzie Howard E Chief Engineer & EVP, ET&T | Sale | 10,497 | $2.46M |
| Feb 4, 2026 | Amuluru Uma M EVP and Chief HR Officer | Sale | 2,731 | $644.6K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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