Boeing has announced preliminary financial results for the third quarter, indicating significant impacts due to charges in its Commercial Airplanes and Defense, Space & Security segments. The company anticipates reporting a third-quarter revenue of $17.8 billion, a GAAP loss per share of ($9.97), and an operating cash flow of ($1.3) billion. Cash and investments in marketable securities amounted to $10.5 billion by the end of the quarter.
Kelly Ortberg, Boeing’s president and CEO, commented on the current challenges: “While our business is facing near-term challenges, we are making important strategic decisions for our future and have a clear view on the work we must do to restore our company.” Ortberg emphasized the necessity of these actions for maintaining competitiveness.
The Commercial Airplanes segment expects pre-tax earnings charges totaling $3.0 billion related to delays in the 777X and 767 programs. The first delivery of the 777-9 is now expected in 2026, with the 777-8 freighter following in 2028. These delays are attributed to certification timeline adjustments and an IAM work stoppage. Additionally, production of the 767 freighter will cease, incurring a $0.4 billion pre-tax charge.
In Defense, Space & Security, pre-tax earnings charges amounting to $2.0 billion are anticipated across several programs including T-7A and KC-46A. The T-7A program alone faces a $0.9 billion charge due to higher estimated production costs beyond 2026.
The company’s statements caution that these preliminary results are unaudited and subject to change as final accounting procedures are completed.
“Forward-looking statements are not guarantees,” Boeing stated, acknowledging risks such as economic conditions, reliance on commercial airline customers, regulatory changes, labor disruptions, and competition among others.
Boeing plans to release its full third-quarter report on October 23.
