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Boeing
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Updated Oct 27, 2026
Boeing Q3 2026: BDS drives consolidated return to operating profit as BCA production delays and supplier shortages cloud the recovery trajectory
Boeing posted consolidated GAAP earnings from operations of $354 million in Q3 2026 versus a $4.8 billion operating loss in Q3 2025, a swing almost entirely attributable to the absence of the $4.9 billion 777X reach-forward loss taken a year ago rather than underlying BCA margin improvement. Defense, Space & Security delivered $492 million in Q3 operating earnings on $7.9 billion in revenue, with BDS backlog surging to $100.5 billion from $84.8 billion at year-end 2025, underscoring the segment as Boeing's primary near-term earnings engine. BCA remains structurally loss-making at a negative 6.5% operating margin for Q3, with management explicitly delaying planned 737 and 787 production rate increases and flagging supplier shortages that will disrupt the 777 and KC-46A programs into 2027.
Tone: mixedRevenue
$89.5B
BA 10-K · FY 2025
Employees
182,000
Revenue FY2024
$66.5B
Founded
1916
Profile
BA 10-K Item 1 · Jan 30, 2026Boeing is one of the world's largest aerospace and defense manufacturers, operating across three segments: Commercial Airplanes, Defense Space and Security, and Global Services. The company develops and produces commercial jetliners, military aircraft, weapons systems, satellites, and space exploration systems. It also provides a broad range of aftermarket services to commercial and defense customers worldwide.
Read filing description ↓ Collapse description ↑
The Boeing Company, together with its subsidiaries, is one of the world's major aerospace firms. We are organized based on the products and services we offer. We operate in three reportable segments: Commercial Airplanes (BCA); Defense, Space and Security (BDS); and Global Services (BGS). BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide. We are a leading producer of commercial aircraft and offer a family of commercial jetliners designed to meet a broad spectrum of global passenger and cargo requirements of airlines. This family of commercial jet aircraft in production includes the 737 narrow-body model and the 767, 777 and 787 wide-body models. Development continues on the 777X program and the 737-7 and 737-10 derivatives. BDS engages in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for strike, surveillance and mobility, including fighter and trainer aircraft; vertical lift, including rotorcraft and tilt-rotor aircraft; and commercial derivative aircraft, including anti-submarine and tanker aircraft. In addition, BDS engages in the research, development, production and modification of strategic defense and intelligence systems, satellite systems, including government and commercial satellites and space exploration. BGS provides services to our commercial and defense customers worldwide and sustains aerospace platforms and systems with a full spectrum of products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and digital solutions and analytics.
Primary products
- 737 narrow-body commercial jetliner
- 767 wide-body commercial jetliner
- 777 wide-body commercial jetliner
- 787 wide-body commercial jetliner
- 777X (in development)
- 737-7 derivative (in development)
Business segments
End markets
Geographies
Named customers
We derive a significant portion of our revenues from a limited number of commercial airlines.
Named competitors
“We are one of the two major manufacturers of 100+ seat airplanes for the worldwide commercial airline industry and one of the largest defense contractors in the U.S.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenues increased by $22,946 million in 2025 compared with 2024, primarily driven by higher revenues at BCA due to higher deliveries, as well as higher volumes at BDS and BGS.
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