Boeing Revenue Rises 4% as Net Loss Narrows to $116 Million

Boeing’s third-quarter revenue climbed 4% to $24.188 billion, while its net loss narrowed to $116 million, as stronger defense and services activity offset weaker commercial-airplane revenue.

Boeing released the results Oct. 27 for the three months through Sept. 30. Revenue in the comparable 2025 period was $23.270 billion, and the GAAP net loss was $5.339 billion. This quarter, the company recorded a non-GAAP core loss of 34 cents per share and a GAAP diluted loss of 26 cents.

The year-over-year net-loss comparison includes a significant prior-period item. Boeing’s third-quarter 2025 results included a $4.9 billion pretax charge on the 777X program. The company said that charge added $6.45 to loss per share, making it part of the basis for the sharp change between the two reported net losses.

Commercial Airplanes revenue declined 3% to $10.720 billion. The segment recorded a $697 million operating loss and a negative 6.5% operating margin. Boeing tied the result to delivery mix, projected costs associated with future production-rate changes and higher estimated supply-chain costs.

Defense, Space & Security revenue rose 15% to $7.935 billion. Its 6.2% operating margin included a $252 million gain from the sale of HRL Laboratories. Boeing Global Services generated $5.6 billion in revenue and an 18.3% operating margin. Higher volume in defense and services supported total sales, partly offset by the mix of commercial-airplane deliveries.

Operating cash flow was $1.496 billion, up from $1.123 billion in the year-earlier quarter. Non-GAAP free cash flow reached $464 million, compared with $238 million a year earlier.

Boeing said its backlog stood at a record $745 billion at quarter-end, including more than 6,300 commercial airplanes. President and CEO Kelly Ortberg said, “But we are not done. We remain focused on safety and quality.”