Boeing reported a second-quarter revenue of $22.7 billion, up 35% from the same period last year, driven by a sharp increase in commercial aircraft deliveries. The company handed over 150 jets during the quarter—up from 92 a year ago—and boosted monthly 737 production to 38 units.
Despite the revenue growth, the aerospace giant posted a net loss of $612 million, or $0.92 per share on a GAAP basis. The core loss per share (non-GAAP) was $1.24, a significant improvement from the $2.90 loss per share a year earlier. Free cash flow remained slightly negative at -$200 million, although operating cash flow turned positive at $227 million.
CEO Kelly Ortberg attributed the improving performance to “fundamental changes to strengthen safety and quality,” and emphasised Boeing’s focus on stabilising operations and restoring customer trust.
Commercial Airplanes Surge
The Commercial Airplanes division saw revenues surge 81% to $10.9 billion. Operating losses narrowed to $557 million with margins improving to -5.1%, from -11.9% last year. Boeing booked 455 net orders in the quarter, including major deals with Qatar Airways and British Airways. The backlog grew to over 5,900 aircraft valued at $522 billion.
Defence Shows Stability
Boeing’s Defense, Space & Security segment reported a modest profit of $110 million on $6.6 billion in revenue, reversing a $913 million loss a year ago. Operating margins recovered to 1.7%. Key milestones included a U.S. Air Force contract for T-7A aircraft and ground testing of the MQ-25 for the U.S. Navy.
Global Services Posts Strong Margins
The Global Services unit posted $5.3 billion in revenue and an operating margin of 19.9%, boosted by favourable service mix and the sale of its Gatwick maintenance facility. The business also secured a support contract with the Republic of Korea Navy.
Financial Position
Boeing ended the quarter with $23.0 billion in cash and marketable securities, down slightly due to debt repayments. Total debt stood at $53.3 billion. Company-wide backlog reached $619 billion.
Boeing continues to operate in a challenging global environment, but management remains focused on operational recovery and long-term growth.