Boeing continues to deliver on its turnaround, slowing losses and posting an earnings beat
The plane maker reported earnings for its second quarter on Tuesday morning.
Boeing is more than six months into the year after one of its worst years ever, and the manufacturer continues to execute on its turnaround plan.
Boeing reported its second-quarter earnings on Tuesday, posting a loss of $1.24 per share, beating analyst expectations of a loss of $1.40 per share. The company reported a net loss of $697 million on the quarter, an improvement from the $1.44 billion loss it logged in the same period last year.
Shares were up slightly in premarket trading.
The plane maker has made significant progress in closing its delivery gap with European rival Airbus this year. Its commercial jet delivery total thus far, 280 planes to Airbus’ 306, marks a 60% improvement from the first six months of 2024. Its revenue from those sales reached $19 billion, 79% improved from last year.
Boeing, which has had its fair share of tariff headaches, has also been a core part of several trade deals announced by the Trump administration, adding to its already massive order total.
Overall sales reached $22.75 billion, beating estimates of $22.16 billion and up more than 25% from last year’s $16.87 billion.
“As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment,” CEO Kelly Ortberg said.
The manufacturer could also soon face yet another costly strike — this time in its defense division. Over 3,000 union factory workers who specialize in building Boeing’s fighter jets could walk off the job as early as August 4.
