Boeing Co
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsBoeing is a leading aerospace company operating in commercial airplanes, defense/space, and global services, with a record backlog of $715 billion.
What they do
Boeing designs, develops, manufactures, and services commercial jetliners (737, 767, 777, 787), military aircraft and weapons systems, and provides aftermarket support. It operates in three reportable segments: Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS). The company also has significant space and satellite operations and is one of the largest U.S. defense contractors.
Revenue drivers
- Commercial Airplanes (BCA) — Generates revenue from selling commercial jetliners; in H1 2026, it reported $20,954 million revenue (45% of total), with 314 deliveries.
- Defense, Space & Security (BDS) — Revenue from military aircraft (F/A-18, F-15, T-7A, KC-46A, P-8A) and space systems; H1 2026 revenue was $15,082 million (32% of total).
- Global Services (BGS) — Provides supply chain, engineering, maintenance, training, and digital solutions; H1 2026 revenue was $10,714 million (23% of total), and included a divestiture of Digital Aviation Solutions in 2025.
Recent performance
Q2 2026 revenue grew 8% to $24.6 billion, driven by higher commercial deliveries (171 vs 150) and BDS revenue. GAAP loss per share was ($0.67), an improvement from ($0.92) a year ago. Operating cash flow was $1.4 billion, and free cash flow was $0.6 billion. For H1 2026, revenue rose 11% to $46.8 billion, with a narrower net loss of $448 million vs $648 million in H1 2025.
Strategy
Boeing centers on executing in its three core segments: BCA focuses on safety, quality, and on-time performance; BDS leverages core businesses to capture next-generation programs and expand internationally; BGS supports customers through cost-competitive services. In 2025, it divested a portion of BGS's Digital Aviation Solutions for $10.55 billion and acquired Spirit AeroSystems, integrating key fuselage and structures work. Management is investing in workforce training, simplifying processes, and enhancing safety culture, while slowing production rates as needed to reduce traveled work.
Risks
- Dependence on commercial airlines — Cyclical airline industry and customer financial stress could lead to order cancellations or delays, hurting revenue and cash flow.
- Production and labor disruptions — Strikes (e.g., IAM 751 in 2024 and IAM 837 in 2025) have halted production of key programs, and upcoming SPEEA contract expirations in October 2026 could impact operations.
- Fixed-price development contracts — Boeing enters firm fixed-price contracts, particularly in BDS, which can lead to cost overruns and charges if execution falls short.
- Regulatory and certification risks — Following the 2024 737-9 door plug incident, FAA restrictions and quality-control investigations may delay certifications (e.g., 777X, 737-7/10) and limit production rates.
Outlook
Management said operations are more stable and key certification programs remain on plan, but there is more work in the second half. They expect continued momentum from safety, quality, and on-time performance improvements. The company is closely monitoring supply chain health and inflationary pressures, and expects to gradually ramp production rates.