This quarter's webcast, earnings release, and presentation, which include relevant disclosures and non-GAAP reconciliations, are available on our website. Our Service business has seen robust growth despite macro uncertainty, and we continue to win favor with our customers every day. All of this progress is set against a backdrop of a record backlog and culture change that continues to take hold and improve the way we work together. One of our fixed-price development programs where we have seen cost growth is the VC-25B.

Like in our commercial business, the demand signal on our Defense & Space products remains very strong, with notable increased demand in missiles and munitions and secure communications satellites programs. So far, we have not seen a material impact in the Commercial Service business from the conflict in the Middle East, and the Government Service business has seen incremental demand to support ongoing operations. Our operations are more stable, and we're ramping up production to deliver on our record $715 billion backlog. We're on track to be free cash flow positive for the year, and most importantly, we're building trust with all of our stakeholders.

Revenue of $24.6 billion was up 8%, driven by solid growth across all three segments, including higher commercial deliveries and strong defense volume. The revenue impacts from the Spirit acquisition and Digital Aviation Solutions divestiture in 2025 largely offset each other. Core earnings per share improved to a loss of $0.76, primarily reflecting higher segment earnings and lower corporate expense, partially offset by the VC-25B program loss. Free cash flow was +$631 million, higher than expectations I shared last quarter based on favorable receipt timing.

More on Boeing Co

Reported 2026-07-28 · figures from the Boeing Co Q2 2026 earnings call.

See how VectorShift works for your firm

Request Demo