Boeing's Q3 Earnings Miss Estimates, Revenues Increase Y/Y

The Boeing Company BA incurred an adjusted loss of $7.47 per share in the third quarter of 2025, wider than the Zacks Consensus Estimate of a loss of $3.68. The bottom line improved from the year-ago quarter’s reported loss of $10.44 per share.

Including one-time items, the company reported a GAAP loss of $7.14 per share, narrower than the year-ago quarter’s reported loss of $9.97 per share.

The year-over-year improvement in the bottom line can be primarily attributed to improved operational performance and commercial delivery volume.

Revenues

Revenues amounted to $23.27 billion, which outpaced the Zacks Consensus Estimate of $21.92 billion by 6.2%. The top line also surged 30.4% from the year-ago quarter’s reported figure of $17.84 billion.

The year-over-year improvement can be attributed to revenue growth registered in all three of its major business segments.

The Boeing Company Price, Consensus and EPS Surprise

The Boeing Company price-consensus-eps-surprise-chart | The Boeing Company Quote

Total Backlog

Backlog at the end of the second quarter totaled $635.69 billion, up from $618.54 billion recorded at the end of the second quarter of 2025.

Segmental Performances

Commercial Airplane: Revenues in this segment surged 49% year over year to $11.09 billion, driven by higher jet deliveries. The segment incurred an operating loss of $5.35 billion, indicating a decline from the year-ago quarter’s reported operating loss of $4.02 billion.

During the quarter under review, Boeing delivered 160 commercial planes. The figure improved 38% year over year.

The backlog for this segment remained healthy, with more than 5,900 airplanes valued at $535 billion.

Boeing Defense, Space & Security (BDS): The segment recorded revenues of $6.90 billion, indicating year-over-year growth of 25%. It generated an operating income of $0.11 billion against the year-ago quarter’s operating loss of $2.38 billion.

BDS recorded a backlog of $76 billion, 20% of which comprised orders from international clients.

Global Services: The segment recorded revenues of $5.37 billion, indicating year-over-year growth of 10%. This unit generated an operating income of $938 million, which improved 12% from the prior-year quarter’s level.

Financial Condition

Boeing exited third-quarter 2025 with cash and cash equivalents of $6.17 billion and short-term and other investments of $16.81 billion. At the end of 2024, the company had cash and cash equivalents of $13.80 billion and short-term and other investments worth $12.48 billion.

Long-term debt amounted to $44.61 billion, down from $52.59 billion recorded at the end of 2024.

The company’s operating cash outflow in the first nine months of 2025 was $0.27 billion compared with $8.63 billion in the first nine months of 2024.

Free cash outflow totaled $2.25 billion in the first nine months of 2025 compared with $10.21 billion in the year-ago period.

Zacks Rank

Boeing currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Defense Releases

Textron Inc. TXT reported third-quarter 2025 adjusted earnings of $1.55 per share, which beat the Zacks Consensus Estimate of $1.47 by 5.4%. The bottom line also rose 10.7% from $1.40 in the year-ago quarter.

The company reported total revenues of $3.6 billion, which missed the Zacks Consensus Estimate of $3.71 billion by 2.8%. Moreover, revenues increased 4.9% from the year-ago quarter’s level of $3.43 billion.

RTX Corporation’s RTX third-quarter 2025 adjusted earnings per share (EPS) of $1.70 beat the Zacks Consensus Estimate of $1.42 by 19.7%. The bottom line also improved 17.2% from the year-ago quarter’s level of $1.45.

RTX’s third-quarter sales totaled $22.48 billion, which surpassed the Zacks Consensus Estimate of $21.48 billion by 4.6%. The top line also surged a solid 11.9% from $20.09 billion recorded for the third quarter of 2024.

Northrop Grumman Corporation NOC reported third-quarter 2025 adjusted earnings of $7.67 per share, which beat the Zacks Consensus Estimate of $6.49 by 18.2%. The bottom line also increased 9.6% from $7 registered in the prior-year quarter.

NOC’s total sales of $10.42 billion in the third quarter missed the Zacks Consensus Estimate of $10.72 billion by 2.8%. However, the top line rose 4.3% from $10 billion reported in the year-ago quarter.

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This article originally published on Zacks Investment Research (zacks.com).

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