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BOEING COfalse0000012927929 Long Bridge DriveArlingtonVA703465-350000000129272026-07-282026-07-280000012927us-gaap:CommonStockMember2026-07-282026-07-280000012927us-gaap:ConvertiblePreferredStockSubjectToMandatoryRedemptionMember2026-07-282026-07-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 28, 2026
 
THE BOEING COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-442 91-0425694
(State or other jurisdiction of
incorporation or organization)		   (Commission file number)   (I.R.S. Employer Identification No.)
 
929 Long Bridge Drive, Arlington, VA
 22202
(Address of principal executive offices)   (Zip Code)
(703) 465-3500
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $5.00 Par Value BA New York Stock Exchange
Depositary Shares, each representing a 1/20th interest in a share of 6.00% Series A Mandatory Convertible Preferred Stock, $1.00 Par Value BA-PRA New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02 Results of Operations and Financial Condition.
On July 28, 2026, The Boeing Company issued a press release reporting its financial results for the second quarter of 2026. A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.


 Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
Exhibit
Number		    Description
99.1
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 
THE BOEING COMPANY
(Registrant)
July 28, 2026 /s/ Michael J. Cleary
(Date)
Michael J. Cleary
Senior Vice President and Controller

EX-99.1 2 a202606jun308kprex991.htm EX-99.1 Document


boeing.jpg
Boeing Reports Second Quarter Results
Second Quarter 2026
•Revenue increased to $24.6 billion primarily reflecting 171 commercial deliveries
•GAAP loss per share of ($0.67) and core loss per share (non-GAAP)* of ($0.76)
•Operating cash flow of $1.4 billion and free cash flow (non-GAAP)* of $0.6 billion
•Total company backlog grew to a record $715 billion, including over 6,200 commercial airplanes
Table 1. Summary Financial Results Second Quarter First Half
(Dollars in Millions, except per share data) 2026 2025 Change 2026 2025 Change
Revenues $24,560  $22,749  8% $46,777  $42,245  11%
GAAP
Earnings/(loss) from operations $156  ($176) NM $604  $285  112%
Operating margins 0.6  % (0.8) % 1.4 Pts 1.3  % 0.7  % 0.6 Pts
Net loss ($428) ($612) NM ($435) ($643) NM
Diluted loss per share ($0.67) ($0.92) NM ($0.79) ($1.09) NM
Operating cash flow $1,364  $227  501% $1,185  ($1,389) NM
Non-GAAP*
Core operating earnings/(loss) $1  ($433) NM $294  ($234) NM
Core operating margins 0.0  % (1.9) % 1.9 Pts 0.6  % (0.6) % 1.2 Pts
Core loss per share ($0.76) ($1.24) NM ($0.97) ($1.73) NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures."    
    ARLINGTON, Va., July 28, 2026 – The Boeing Company [NYSE: BA] recorded second quarter revenue of $24.6 billion, GAAP loss per share of ($0.67) and core loss per share (non-GAAP)* of ($0.76). The company reported operating cash flow of $1.4 billion and free cash flow (non-GAAP)* of $0.6 billion. Results primarily reflect higher commercial delivery volume and favorable working capital within the year. Total company backlog at quarter end grew to a record $715 billion.
“I’m very pleased with the progress our team is making as we execute our plan. Our operations are more stable and key certification programs remain on plan. Our focus has been on restoring trust and we are now building on that through a sustained focus on safety, quality, and on-time performance,” said Kelly Ortberg, Boeing president and chief executive officer. “While there is more work ahead in the second half of the year, the momentum we are building continues to move Boeing in the right direction.”
1

Table 2. Cash Flow
 Second Quarter First Half
(Millions) 2026 2025 2026 2025
Operating cash flow $1,364  $227  $1,185  ($1,389)
Less additions to property, plant & equipment ($733) ($427) ($2,008) ($1,101)
Free cash flow* $631  ($200) ($823) ($2,490)
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures."    
    Operating cash flow was $1.4 billion in the quarter reflecting higher commercial deliveries and working capital timing. Additions to property, plant and equipment primarily reflects higher investments in Charleston and St. Louis sites.

Table 3. Cash, Marketable Securities and Debt Balances
 Quarter End
(Billions) 2Q 2026 1Q 2026
Cash and investments in marketable securities1
$20.0 $20.9
Consolidated debt $45.9 $47.2
1 Marketable securities consist primarily of time deposits due within one year classified as "short-term investments."
    Cash and investments in marketable securities totaled $20.0 billion, compared to $20.9 billion at the beginning of the quarter, reflecting debt repayments partially offset by cash flow generated in the quarter. The company maintains access to credit facilities of $10.0 billion, which remain undrawn.
2

Segment Results
Commercial Airplanes
Table 4. Commercial Airplanes Second Quarter First Half
(Dollars in Millions) 2026 2025 Change 2026 2025 Change
Deliveries 171  150  14% 314  280  12%
Revenues $11,751  $10,874  8% $20,954  $19,021  10%
Loss from operations ($322) ($557) NM ($885) ($1,094) NM
Operating margins (2.7) % (5.1) % 2.4 Pts (4.2) % (5.8) % 1.6 Pts
Commercial Airplanes second quarter revenue of $11.8 billion and operating margin of (2.7) percent primarily reflects higher deliveries, favorable mix, improved performance, and other adjustments.
The 737 program began transitioning production to 47 per month rate in the quarter and activated low-rate initial production on the 737 North Line in July. As of July, certification flight testing has been completed on both the 737-7 and 737-10. The company continues to anticipate certification in 2026 and first delivery in 2027 for both variants. In the quarter, the 777X program received FAA approval to begin certification flight testing under Type Inspection Authorization 4B. The company continues to anticipate first delivery in 2027.
Commercial Airplanes booked 246 net orders including orders from Korean Air, Delta Air Lines, and SMBC Capital. Commercial Airplanes delivered 171 airplanes and backlog included over 6,200 airplanes valued at a record $597 billion.
Defense, Space & Security
Table 5. Defense, Space & Security
 Second Quarter First Half
(Dollars in Millions) 2026 2025 Change 2026 2025 Change
Revenues $7,483  $6,617  13% $15,082  $12,915  17%
Earnings/(loss) from operations ($15) $110  NM $218  $265  (18)%
Operating margins (0.2) % 1.7  % (1.9) Pts 1.4  % 2.1  % (0.7) Pts
Defense, Space & Security second quarter revenue was $7.5 billion driven by higher volume. Operating margin was (0.2) percent in the quarter. Results include $280 million of losses on the VC-25B program primarily driven by an investment in additional production and certification resources. The company continues to anticipate first delivery in 2028.
During the quarter, Defense, Space & Security secured an award from the U.S. Space Force to provide proprietary communications capabilities, successfully completed first flight and received Milestone C on the U.S. Navy MQ-25A Stingray, and began low-rate initial production of the U.S. Air Force T-7A Red Hawk. Backlog at Defense, Space & Security was $85 billion, with 27 percent representing orders from customers outside the U.S.

3

Global Services
Table 6. Global Services
 Second Quarter First Half
(Dollars in Millions) 2026 2025 Change 2026 2025 Change
Revenues $5,344  $5,281  1% $10,714  $10,344  4%
Earnings from operations $968  $1,049  (8)% $1,939  $1,992  (3)%
Operating margins 18.1  % 19.9  % (1.8) Pts 18.1  % 19.3  % (1.2) Pts
Global Services second quarter revenue was $5.3 billion on higher volume. Operating margin of 18.1 percent reflects impacts from the Digital Aviation Solutions divestiture, higher costs, and unfavorable mix.
In the quarter, Global Services captured an award from the U.S. Navy to provide training systems for the P-8A and announced an agreement with Alaska Airlines to integrate the Boeing Virtual Airplane training solution. Global Services ended the quarter with backlog of $33 billion.
Additional Financial Information
Table 7. Additional Financial Information
 Second Quarter First Half
(Dollars in Millions) 2026 2025 2026 2025
Revenues
Unallocated items, eliminations and other ($18) ($23) $27  ($35)
Earnings/(loss) from operations
Unallocated items, eliminations and other ($630) ($1,035) ($978) ($1,397)
FAS/CAS service cost adjustment $155  $257  $310  $519 
Other income, net $79  $325  $273  $648 
Interest and debt expense ($600) ($710) ($1,216) ($1,418)
Income Tax Expense ($63) ($51) ($96) ($158)
    Unallocated items, eliminations and other primarily reflects timing of allocations.
4

Non-GAAP Measures Disclosures
    We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (GAAP) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. The following definitions are provided:
Core Operating Earnings/(Loss), Core Operating Margins and Core Earnings/(Loss) Per Share
    Core operating earnings/(loss) is defined as GAAP Earnings/(loss) from operations excluding the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the Financial Accounting Standards (FAS) pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core operating margins is defined as Core operating earnings/(loss) expressed as a percentage of revenue. Core earnings/(loss) per share is defined as GAAP Diluted earnings/(loss) per share excluding the net earnings/(loss) per share impact of the FAS/CAS service cost adjustment and Non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. Management uses core operating earnings/(loss), core operating margins and core earnings/(loss) per share for purposes of evaluating and forecasting underlying business performance. Management believes these core measures provide investors additional insights into operational performance as they exclude non-service pension and post-retirement costs, which primarily represent costs driven by market factors and costs not allocable to government contracts. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is provided on page 12.
Free Cash Flow
    Free cash flow is GAAP operating cash flow reduced by capital expenditures for property, plant and equipment. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity. See Table 2 on page 2 for a reconciliation of free cash flow to the most directly comparable GAAP measure, operating cash flow.


5

Caution Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and other similar words or expressions, or the negative thereof, generally can be used to help identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, industry projections and outlooks, plans, objectives and goals, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate.

These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: (1) general conditions in the economy and our industry, including those due to regulatory changes and geopolitical developments; (2) our reliance on our commercial airline customers; (3) the overall health of our aircraft production system, production quality issues, commercial airplane production rates, our ability to successfully develop and certify new aircraft or new derivative aircraft, and the ability of our aircraft to meet stringent performance and reliability standards; (4) changing budget and appropriation levels and acquisition priorities of the U.S. government, as well as significant delays in U.S. government appropriations; (5) our dependence on our subcontractors and suppliers, as well as the availability of highly skilled labor and raw materials; (6) work stoppages or other labor disruptions; (7) competition within our markets; (8) our non-U.S. operations and sales to non-U.S. customers, including tariffs, trade restrictions and government actions; (9) changes in accounting estimates; (10) realizing the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures, including anticipated synergies and quality improvements related to our acquisition of Spirit AeroSystems Holdings, Inc.; (11) our dependence on U.S. government contracts; (12) our reliance on fixed-price contracts; (13) our reliance on cost-type contracts; (14) contracts that include in-orbit incentive payments; (15) management of a complex, global IT infrastructure; (16) compromised or unauthorized access to our, our customers’ and/or our suppliers' information and systems; (17) potential business disruptions, including threats to physical security or our information technology systems, extreme weather (including effects of climate change) or other acts of nature, and pandemics or other public health crises; (18) potential adverse developments in new or pending litigation and/or government inquiries or investigations; (19) potential environmental liabilities; (20) effects of climate change and legal, regulatory or market responses to such change; (21) credit rating agency actions and our ability to effectively manage our liquidity; (22) substantial pension and other postretirement benefit obligations; (23) the adequacy of our insurance coverage; (24) the dilutive effect of future issuances of our common stock; and (25) the preferential treatment of our 6.00% mandatory convertible preferred stock.

Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
# # #
Contact:
Investor Relations:   
Eric Hill or Mike Harris BoeingInvestorRelations@boeing.com
Communications:   
Wilson Chow media@boeing.com

6

The Boeing Company and Subsidiaries
Consolidated Statements of Operations
(Unaudited)

Six months ended June 30 Three months ended June 30
(Dollars in millions, except per share data) 2026 2025 2026 2025
Sales of products $40,364  $35,269  $21,366  $19,122 
Sales of services 6,413  6,976  3,194  3,627 
Total revenues 46,777  42,245  24,560  22,749 
Cost of products (36,518) (31,785) (19,487) (17,406)
Cost of services (5,299) (5,608) (2,659) (2,908)
Total costs and expenses (41,817) (37,393) (22,146) (20,314)
4,960  4,852  2,414  2,435 
Income from operating investments, net 14  28  24  25 
General and administrative expense (2,625) (2,905) (1,428) (1,793)
Research and development expense, net (1,824) (1,754) (921) (910)
Gain on dispositions, net 79  64  67  67 
Earnings/(loss) from operations 604  285  156  (176)
Other income, net 273  648  79  325 
Interest and debt expense (1,216) (1,418) (600) (710)
Loss before income taxes (339) (485) (365) (561)
Income tax expense (96) (158) (63) (51)
Net loss (435) (643) (428) (612)
Less: Net earnings/(loss) attributable to noncontrolling interest 13  5  16  (1)
Net loss attributable to Boeing shareholders (448) (648) (444) (611)
Less: Mandatory convertible preferred stock dividends accumulated during the period 172  172  86  86 
Net loss attributable to Boeing common shareholders ($620) ($820) ($530) ($697)
Basic loss per share ($0.79) ($1.09) ($0.67) ($0.92)
Diluted loss per share ($0.79) ($1.09) ($0.67) ($0.92)




7

The Boeing Company and Subsidiaries
Consolidated Statements of Financial Position
(Unaudited)
(Dollars in millions, except per share data) June 30
2026		 December 31
2025
Assets
Cash and cash equivalents $7,239  $10,921 
Short-term and other investments 12,783  18,479 
Accounts receivable, net 3,515  2,921 
Unbilled receivables, net 9,660  9,158 
Inventories 88,388  84,679 
Other current assets, net 3,045  2,301 
Total current assets 124,630  128,459 
Financing receivables and operating lease equipment, net 365  241 
Property, plant and equipment, net of accumulated depreciation of $24,318 and $23,613
 16,321  15,361 
Goodwill 17,554  17,275 
Acquired intangible assets, net 1,531  1,567 
Deferred income taxes 152  107 
Investments 1,117  1,048 
Other assets, net of accumulated amortization of $1,138 and $1,014
 4,200  4,177 
Total assets $165,870  $168,235 
Liabilities and equity
Accounts payable $14,346  $13,109 
Accrued liabilities 26,593  27,141 
Advances and progress billings 64,059  59,404 
Short-term debt and current portion of long-term debt 4,565  8,461 
Total current liabilities 109,563  108,115 
Deferred income taxes 260  216 
Accrued retiree health care 2,027  2,091 
Accrued pension plan liability, net 4,108  4,287 
Other long-term liabilities 2,462  2,432 
Long-term debt 41,335  45,637 
Total liabilities 159,755  162,778 
Shareholders’ equity:
Mandatory convertible preferred stock, 6.00% Series A, par value $1.00 - 20,000,000 shares authorized; 5,750,000 shares issued; aggregate liquidation preference $5,750 6  6 
Common stock, par value $5.00 – 1,200,000,000 shares authorized; 1,012,261,159 shares issued
 5,061  5,061 
Additional paid-in capital 21,949  21,441 
Treasury stock, at cost - 222,468,625 and 227,562,887 shares
 (27,416) (28,029)
Retained earnings 16,632  17,252 
Accumulated other comprehensive loss (10,132) (10,277)
Total shareholders' equity 6,100  5,454 
Noncontrolling interests 15  3 
Total equity 6,115  5,457 
Total liabilities and equity $165,870  $168,235 
8

The Boeing Company and Subsidiaries
Consolidated Statements of Cash Flows (Unaudited)
Six months ended June 30
(Dollars in millions) 2026 2025
Cash flows – operating activities:
Net loss ($435) ($643)
Adjustments to reconcile net loss to net cash provided/(used) by operating activities:
Non-cash items – 
Share-based plans expense 264  254 
Treasury shares issued for 401(k) contributions 855  793 
Depreciation and amortization 1,169  926 
Investment/asset impairment charges, net 18  30 
Gain on dispositions, net (79) (64)
Other charges and credits, net 149  162 
Changes in assets and liabilities – 
Accounts receivable (553) (683)
Unbilled receivables (504) (908)
Advances and progress billings 4,660  (616)
Inventories (3,859) (374)
Other current assets (642) 265 
Accounts payable 1,381  (46)
Accrued liabilities (1,070) (248)
Income taxes receivable, payable and deferred (20) (3)
Other long-term liabilities (92) (212)
Pension and other postretirement plans (55) (292)
Financing receivables and operating lease equipment, net (137) 185 
Other 135  85 
Net cash provided/(used) by operating activities 1,185  (1,389)
Cash flows – investing activities:
Payments to acquire property, plant and equipment (2,008) (1,101)
Proceeds from disposals of property, plant and equipment 3  4 
Proceeds from dispositions   35 
Contributions to investments (19,444) (21,581)
Proceeds from investments 25,090  18,847 
Supplier notes receivable (11) (150)
Other (1)
Net cash provided/(used) by investing activities 3,629  (3,946)
Cash flows – financing activities:
New borrowings 35  98 
Debt repayments (8,376) (677)
Employee taxes on certain share-based payment arrangements (32) (18)
Dividends paid on mandatory convertible preferred stock (172) (158)
Other 32  30 
Net cash used by financing activities (8,513) (725)
Effect of exchange rate changes on cash and cash equivalents 2  34 
Net decrease in cash & cash equivalents, including restricted (3,697) (6,026)
Cash & cash equivalents, including restricted, at beginning of year 11,663  13,822 
Cash & cash equivalents, including restricted, at end of period 7,966  7,796 
Less restricted cash & cash equivalents, included in Investments 727  709 
Cash & cash equivalents at end of period $7,239  $7,087 
9

The Boeing Company and Subsidiaries
Summary of Business Segment Data
(Unaudited)
Six months ended June 30 Three months ended June 30
(Dollars in millions) 2026 2025 2026 2025
Revenues:
Commercial Airplanes $20,954  $19,021  $11,751  $10,874 
Defense, Space & Security 15,082  12,915  7,483  6,617 
Global Services 10,714  10,344  5,344  5,281 
Unallocated items, eliminations and other 27  (35) (18) (23)
Total revenues $46,777  $42,245  $24,560  $22,749 
Earnings/(loss) from operations:
Commercial Airplanes ($885) ($1,094) ($322) ($557)
Defense, Space & Security 218  265  (15) 110 
Global Services 1,939  1,992  968  1,049 
Segment operating earnings 1,272  1,163  631  602 
Unallocated items, eliminations and other (978) (1,397) (630) (1,035)
FAS/CAS service cost adjustment 310  519  155  257 
Earnings/(loss) from operations 604  285  156  (176)
Other income, net 273  648  79  325 
Interest and debt expense (1,216) (1,418) (600) (710)
Loss before income taxes (339) (485) (365) (561)
Income tax expense (96) (158) (63) (51)
Net loss (435) (643) (428) (612)
Less: Net earnings/(loss) attributable to noncontrolling interest 13  5  16  (1)
Net loss attributable to Boeing shareholders (448) (648) (444) (611)
Less: Mandatory convertible preferred stock dividends accumulated during the period 172  172  86  86 
Net loss attributable to Boeing common shareholders ($620) ($820) ($530) ($697)
Research and development expense, net:
Commercial Airplanes $1,200  $1,092  $597  $558 
Defense, Space & Security 366  420  192  221 
Global Services 48  59  26  30 
Other 210  183  106  101 
Total research and development expense, net $1,824  $1,754  $921  $910 
Unallocated items, eliminations and other:
Share-based plans ($52) ($51) $3  ($21)
Deferred compensation (107) (80) (124) (85)
Amortization of previously capitalized interest (45) (42) (23) (21)
Research and development expense, net (210) (183) (106) (101)
Eliminations and other unallocated items (564) (1,041) (380) (807)
Sub-total (included in Core operating earnings/(loss) (978) (1,397) (630) (1,035)
Pension FAS/CAS service cost adjustment 185  390  92  197 
Postretirement FAS/CAS service cost adjustment 125  129  63  60 
FAS/CAS service cost adjustment 310  519  $155  $257 
Total ($668) ($878) ($475) ($778)


10

The Boeing Company and Subsidiaries
Operating and Financial Data
(Unaudited)

Deliveries Six months ended June 30 Three months ended June 30
Commercial Airplanes 2026 2025 2026 2025
737 243  209  129  104 
767 16  14  10  9 
777 15  20  7  13 
787 40  37  25  24 
Total 314  280  171  150 
Defense, Space & Security
AH-64 Apache (New) 8  6  6  2
AH-64 Apache (Remanufactured) 24  21  9  10
CH-47 Chinook (New) 5  1  4  —
CH-47 Chinook (Renewed) 3  7  2  5
F-15 Models 4  4  3  3
F/A-18 Models 5  9  3  4
KC-46 Tanker 8  5  4  5
MH-139 5  5  3  4
P-8 Models 2  2  1  1
Commercial Satellites
 1  2  —  2 
Total1
65  62  35  36 
1 Deliveries of new-build production units, including remanufactures and modifications
Total backlog (Dollars in millions)
June 30
2026		 December 31
2025
Commercial Airplanes $596,724  $567,290 
Defense, Space & Security 85,322  84,786 
Global Services 32,840  29,720 
Unallocated items, eliminations and other 375  411 
Total backlog $715,261  $682,207 
Contractual backlog $674,506  $639,721 
Unobligated backlog 40,755  42,486 
Total backlog $715,261  $682,207 
11

The Boeing Company and Subsidiaries
Reconciliation of Non-GAAP Measures
(Unaudited)
The tables provided below reconcile the non-GAAP financial measures core operating earnings/(loss), core operating margins, and core earnings/(loss) per share with the most directly comparable GAAP financial measures of earnings/(loss) from operations, operating margins, and diluted earnings/(loss) per share. See page 5 of this release for additional information on the use of these non-GAAP financial measures.
(Dollars in millions, except per share data)
Second Quarter 2026
Second Quarter 2025
$ millions Per Share $ millions Per Share
Revenues $24,560  $22,749 
Earnings/(loss) from operations (GAAP) 156  (176)
Operating margins (GAAP) 0.6  % (0.8) %
FAS/CAS service cost adjustment:
Pension FAS/CAS service cost adjustment (92) (197)
Postretirement FAS/CAS service cost adjustment (63) (60)
FAS/CAS service cost adjustment (155) (257)
Core operating earnings/(loss) (non-GAAP) $1  ($433)
Core operating margins (non-GAAP)
 0.0  % (1.9) %
Diluted loss per share (GAAP)
 ($0.67) ($0.92)
Pension FAS/CAS service cost adjustment ($92) (0.12) ($197) (0.26)
Postretirement FAS/CAS service cost adjustment (63) (0.08) (60) (0.08)
Non-operating pension expense/(income) 73  0.10  (42) (0.05)
Non-operating postretirement income
 (9) (0.01) (4) (0.01)
Provision for deferred income taxes on adjustments 1
19  0.02  64  0.08 
Subtotal of adjustments ($72) ($0.09) ($239) ($0.32)
Core loss per share (non-GAAP)
 ($0.76) ($1.24)
Diluted weighted average common shares outstanding (in millions) 790.6  756.6 
1 The income tax impact is calculated using the U.S. corporate statutory tax rate.











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The Boeing Company and Subsidiaries
Reconciliation of Non-GAAP Measures
(Unaudited)
The tables provided below reconcile the non-GAAP financial measures core operating earnings/(loss), core operating margins, and core earnings/(loss) per share with the most directly comparable GAAP financial measures of earnings/(loss) from operations, operating margins, and diluted earnings/(loss) per share. See page 5 of this release for additional information on the use of these non-GAAP financial measures.
(Dollars in millions, except per share data) First Half of 2026 First Half of 2025
$ millions Per Share $ millions Per Share
Revenues $46,777  $42,245 
Earnings from operations (GAAP) 604  285 
Operating margins (GAAP) 1.3  % 0.7  %
FAS/CAS service cost adjustment:
Pension FAS/CAS service cost adjustment (185) (390)
Postretirement FAS/CAS service cost adjustment (125) (129)
FAS/CAS service cost adjustment (310) (519)
Core operating earnings/(loss) (non-GAAP) $294  ($234)
Core operating margins (non-GAAP)
 0.6  % (0.6) %
Diluted loss per share (GAAP)
 ($0.79) ($1.09)
Pension FAS/CAS service cost adjustment ($185) (0.23) ($390) (0.52)
Postretirement FAS/CAS service cost adjustment (125) (0.16) (129) (0.17)
Non-operating pension expense/(income) 147  0.18  (85) (0.11)
Non-operating postretirement income
 (18) (0.02) (9) (0.01)
Provision for deferred income taxes on adjustments 1
38  0.05  129  0.17 
Subtotal of adjustments ($143) ($0.18) ($484) ($0.64)
Core loss per share (non-GAAP)
 ($0.97) ($1.73)
Diluted weighted average common shares outstanding (in millions) 789.2  755.0 
1 The income tax impact is calculated using the U.S. corporate statutory tax rate.











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