Boeing returns to profit in Q4 2025 as deliveries surge and backlog hits record high

Boeing reported a strong recovery in the fourth quarter of 2025, driven by a sharp increase in commercial aircraft deliveries and a major one-off gain from the sale of its Digital Aviation Solutions business. Fourth-quarter revenue rose 57% year on year to $23.9 billion, supported by 160 commercial deliveries, while GAAP earnings reached $10.23 per share. Results were significantly boosted by a $9.6 billion gain from the divestment, helping Boeing generate $1.3 billion in operating cash flow.

For the full year 2025, Boeing posted revenue of $89.5 billion and delivered 600 commercial aircraft, its highest annual totals since 2018. The company returned to profitability with net earnings of $2.2 billion, compared with a large loss in 2024. Total backlog grew to a record $682 billion, including more than 6,100 commercial aeroplanes, reflecting strong demand across all business segments.

Commercial Airplanes showed marked improvement, with deliveries up 72% year on year and revenue rising 82%, although the division remained loss-making as it continued production stabilisation and absorbed costs linked to the Spirit AeroSystems acquisition. Boeing advanced key programs during the quarter, including higher 737 production rates, progress on 737-10 and 777X certification, and stabilisation of 787 output.

Defense, Space & Security also improved significantly, narrowing losses as volumes increased, while Global Services delivered exceptionally strong results due to the Digital Aviation Solutions sale and ended the year with record orders and backlog.

Boeing closed the year with $29.4 billion in cash and investments and reaffirmed its focus on operational stability, certification progress, and rebuilding trust, positioning the company for continued recovery in 2026.