Boeing (BA) 3Q 2025 earnings

Boeing said Wednesday its jetliner deliveries drove it back into cash-positive territory for the primary time in nearly two years, however it took a $4.9 billion charge on additional delays of its long-awaited 777X wide-body plane.

Boeing is heading in the right direction to deliver probably the most aircraft this yr since 2018, before two crashes grounded its bestselling jetliner, the Covid pandemic hit supply chains and a number of producing crises drove years of losses at the highest U.S. exporter.every

CEO Kelly Ortberg, an aerospace veteran who got here out of retirement to helm Boeing in August 2024, has worked to regular the manufacturer’s sprawling supply chain and cash-generating production lines.

The 777X, an updated version of its 777 plane, took its first flight nearly six years ago but still hasn’t won regulator approval. Boeing said it now expects the primary delivery in 2027, resulting in the noncash charge.

Boeing CFO Jay Malave told analysts that questioned why the charge on this system was so high that slower production rates and holding onto planes longer for rework added to costs.

“The team is just not going to sit down here and take this flippantly and hasn’t taken it flippantly,” Malave said. “They’re focused — we’re all focused on doing every part we are able to to enhance the long-term productivity on this program, while also working to mitigate the overall delay impact to our customers one of the best we are able to.”

Boeing stock fell 4% on Wednesday, though it continues to be up greater than 20% to this point this yr.

“While there’s still more work to do to advance our development programs, particularly on our industrial development and certification programs, we’re seeing positive signs across our business, and I’m happy with how we’re coming together to show our company around,” Ortberg said in a staff note.

Still, Boeing generated free money flow of $238 million, its first time within the black on that metric since late 2023.

The corporate lost $4.78 billion, or $7.14 a share, within the three months ended Sept. 30. That is higher than a $5.76 billion loss a yr earlier. On an adjusted basis, the corporate reported a lack of $7.47 a share. Revenue jumped 30% to $23.27 billion for the third quarter, up from $17.84 billion a yr ago and ahead of analysts’ estimates.

A yr ago, Boeing machinists were on strike in a contract impasse that crippled production at the vast majority of the corporate’s industrial airplane factories.

Here’s how Boeing performed for the third quarter compared with analysts’ estimates compiled by LSEG:

• Loss per share: $7.47 per share adjusted vs. a lack of $4.59 expected
• Revenue: $23.27 billion vs. $21.97 billion expected

Airline customers have said they’ve seen an improvement at Boeing, with more accurate delivery projections, a change in tune from the complaints of prior years.

In the primary nine months of the yr, Boeing delivered 440 airplanes, up from 291 in the identical period last yr. Airlines and other customers pay for the majority of the planes once they receive them, so increasing the delivery pace is essential for Boeing to stem an outflow of money totaling near $17 billion for the reason that start of 2024 through June of this yr.

Last yr was imagined to be a turnaround yr for Boeing, but a midair blowout of a door panel in January 2024 resulted in a near catastrophe and increased federal scrutiny that slowed production.

But Boeing has made progress. Earlier this month, the Federal Aviation Administration lifted a production cap for Boeing’s 737 Max to 42 a month from 38, a restriction it put in place after the accident. Ortberg said the corporate will increase production beyond that level when it has FAA approval.

The FAA can also be now allowing Boeing to perform final sign-offs on a few of its aircraft, an indication of increased confidence from its regulator.

Boeing’s industrial unit revenue rose 49% from a yr earlier to $11.09 billion, though it still had negative operating margins. Its defense unit generated $6.9 billion, up 25% from last yr within the third quarter, with a 1.7% operating margin, while its profitable global services business brought in nearly $5.4 billion, a ten% increase.

The corporate is not out of the woods. Its Max 7 and Max 10 variants and the 777X are years behind schedule.

“Pencils are down from a design perspective” on an anti-icing system for the 2 Max variants, the biggest and smallest of the family, Ortberg told CNBC’s “Squawk on the Street” on Wednesday. “We all know what hardware and software changes are needed to the airplane.”

He said Boeing is now working through certification with the FAA.

Moreover, about 3,200 of its defense unit staff who make F-15 fighter jets and missile systems have been on strike for the reason that summer because the two sides have yet to achieve a brand new contract.