Boeing Posts 34 Cent Adjusted Loss in Third Quarter as Backlog Reaches Record 745 Billion Dollars

Boeing reported a third quarter adjusted loss of 34 cents a share on Tuesday, October 27, 2026, wider than the 21 cent loss analysts expected on average in LSEG data compiled for Reuters. Revenue rose 4 percent to 24.188 billion dollars, up from 23.270 billion dollars a year earlier, and the total company backlog grew to a record 745 billion dollars at the end of the quarter.

The company posted a net loss of 116 million dollars, with a GAAP loss of 26 cents a share. That compares with a net loss of 5.339 billion dollars a year earlier. Seeking Alpha reported that the non-GAAP loss missed expectations by 14 cents and that revenue of 24.19 billion dollars missed by 180 million dollars. Boeing said the revenue increase primarily reflected higher defense and services volume and a less favorable commercial delivery mix.

Commercial airplanes lost money in the quarter

Boeing Commercial Airplanes recorded revenue of 10.720 billion dollars, down 3 percent from a year earlier. The unit posted an operating loss of 697 million dollars and an operating margin of minus 6.5 percent. Boeing attributed the result to a less favorable delivery mix, higher projected costs for future production rate adjustments and higher estimated supply chain costs.

Commercial Airplanes delivered 161 airplanes in the quarter and booked 300 net orders, including orders from Turkish Airlines, Ethiopian Airlines and Lufthansa. Its backlog included more than 6,300 airplanes valued at a record 612 billion dollars.

Defense and services carried the growth

Defense, Space and Security revenue was 7.935 billion dollars, up 15 percent. Earnings from operations were 492 million dollars, with an operating margin of 6.2 percent, up from 1.7 percent a year earlier. Boeing said the improvement reflected a 252 million dollar gain on the sale of HRL Laboratories and improved operational performance. The defense backlog grew to a record 101 billion dollars.

Boeing Global Services revenue was 5.574 billion dollars, up 4 percent. Earnings from operations were 1.019 billion dollars, with an operating margin of 18.3 percent.

Operating cash flow was 1.496 billion dollars and free cash flow was 464 million dollars. Boeing said those figures reflected working capital timing, partially offset by Department of Justice settlement payments of approximately 0.7 billion dollars. Cash and investments in marketable securities totaled 20.7 billion dollars and consolidated debt was 45.9 billion dollars. Reuters reported net debt of 25.2 billion dollars, down from 25.9 billion dollars the previous quarter and 30.4 billion dollars a year ago.

Certifications and production rates

During the quarter the 737-7 received amended type certification from the FAA and the 737-10 received certification in October. The 737 program continues to progress toward stabilized production of 47 airplanes per month, the 787 program remains stable at 8 per month, and the 777-9 remains on track for first delivery in 2027. Boeing was also selected by the US Navy to design, build and deliver the F/A-XX next generation fighter aircraft.

President and chief executive officer Kelly Ortberg said: "Recent milestones, including certification of the 737-7 and 737-10 and selection to design and build the Navy's sixth-generation fighter aircraft, are important steps as we continue building on our progress. But we are not done. We remain focused on safety and quality as we redouble our efforts on Lean and disciplined execution to deliver on our commitments and build the durable performance our stakeholders expect."

Boeing shares slipped 1 percent in premarket trading on Tuesday, according to Investopedia.