Boeing Q3 2026 Revenue Beats at $24.19B But Core Loss Deepens Beyond Estimates

Boeing reported third-quarter 2026 revenue of $24.19 billion, topping the $23.85 billion consensus estimate and marking a 4% gain year over year, but posted a wider-than-expected adjusted core loss of 34 cents per share against an estimated loss of 21 cents. The reported loss per share came in at 26 cents versus a 15-cent loss estimate.

The result was a split scorecard across segments. Commercial Airplanes generated $10.72 billion in revenue, slightly below the $10.94 billion estimate, and recorded an operating loss of $697 million at a negative 6.5% margin. Defense, Space and Security brought in $7.9 billion, up 15% year over year at a 6.2% operating margin, while Global Services contributed $5.6 billion, up 4%, with a strong 18.3% margin.

Cash generation was a bright spot. Operating cash flow came in at $1.50 billion, well above the $1.24 billion estimate and 33% higher than a year ago. Adjusted free cash flow reached $464 million against an estimate of $325 million.

On the production and program front, Boeing said it is targeting 737 output of 47 aircraft per month, with 787 production stable at 8 per month. The 737-7 received an amended type certification from the FAA, and the 737-10 achieved its amended type certification in October. Boeing was also selected by the U.S. Navy to design, build and deliver its next-generation fighter aircraft. Total company backlog stands at $745 billion.