Boeing turns cash flow positive for the first time since its door plug blowout
But its loss widened due to a steep charge related to a 777X certification delay.
Boeing’s uneven recovery from a dismal 2024 continues, with the plane maker reporting third-quarter earnings results on Wednesday morning.
Shares whipsawed in premarket trading.
The company posted an adjusted loss of $7.47 per share, significantly deeper than Wall Street estimates of a loss of $4.44 per share. According to Boeing, the loss primarily reflects a steep charge from the certification delay of the frequently delayed 777X, which is already six years behind its original timeline. A pretax earnings charge of $4.9 billion on the program deepened this quarter’s loss by $6.45 per share, Boeing said.
The company also:
Booked $23.3 billion in revenue, up 30% from the same period last year and above expectations of $22.3 billion.
Generated $238 million in free cash flow, beating the $884 million loss expected by analysts polled by Bloomberg. Last year, Boeing burned through $14.3 billion in cash. This is Boeing’s first positive free cash flow since Q4 2023.
Reported a growing backlog, up 20% from the end of last year to $636 billion. According to Jefferies, about 28% of the backlog is earmarked for Asia.
The commercial airplanes unit posted $11.1 billion in revenue, up 49% from the same quarter last year.
Boeing’s deliveries have improved this year, boosting Wall Street optimism after the FAA lifted the cap on 737 Max production from 38 to 42 aircraft per month. Earlier this month, Boeing said it had delivered 440 commercial planes through September. That’s more than 2024’s full-year total of 348 planes, but less than the 568 planes Boeing delivered through September in 2018 before deadly 737 Max crashes rocked the company. Rival Airbus said it’s delivered 507 jets through September this year.
Adding some wind beneath Boeing’s wings this year are several multibillion-dollar orders from foreign countries, announced as part of President Trump’s trade deals. The company is said to be in talks to sell up to 500 planes to China — a deal that the US Ambassador to China has said is “very important to the president.”
Boeing shares have climbed about 26% year to date as of Tuesday’s close, outpacing the S&P 500.
