Boeing delivers 161 airplanes in the third quarter as revenue rises 4%
Oct 28, 2026
Boeing (NYSE: BA) reported its third-quarter 2026 results on Tuesday, October 27, 2026. The company delivered 161 commercial airplanes in the quarter, compared with 160 a year earlier.
Third-quarter results
According to the company's release:
- revenue rose 4% to $24.2 billion, from $23.3 billion a year earlier
- the GAAP loss was $0.26 per share
- the core loss, a non-GAAP measure, was $0.34 per share
- operating cash flow was $1.5 billion
- free cash flow, a non-GAAP measure, was $0.5 billion
Results by business
Boeing has three main businesses:
- Commercial Airplanes: revenue of $10.7 billion, down 3%, with an operating margin of minus 6.5%
- Defense, Space & Security: revenue of $7.9 billion, up 15%, with an operating margin of 6.2%
- Global Services: revenue of $5.6 billion, up 4%, with an operating margin of 18.3%
Record backlog
Boeing's total backlog reached a record $745.4 billion. It includes more than 6,300 commercial airplanes valued at $612 billion. A backlog is the value of orders that a company has received but not yet delivered. For aircraft makers, it can cover many years of production.
Production and certification
According to the release:
- 737 production is on track toward a stabilised rate of 47 airplanes per month
- 787 production is stable at 8 airplanes per month
- the 737-7 received amended type certification from the US Federal Aviation Administration (FAA) in the third quarter
- the 737-10 received certification in October
- certification flight testing of the 777-9 continues, and its first delivery remains on track for 2027
The 737-7 and 737-10 are the smallest and largest versions of the 737 MAX family. Certification allows Boeing to deliver these models to airlines that have ordered them.
CEO Kelly Ortberg pointed to the company's focus on safety, quality and disciplined execution, while adding: "But we are not done."
Cash and debt
At the end of the quarter, Boeing had $20.7 billion in cash and marketable securities and $45.9 billion of consolidated debt. It also had $10.0 billion of undrawn credit facilities.
Why deliveries matter
Aircraft makers receive a large part of the payment for an airplane when it is delivered to the customer. Delivery numbers are therefore closely linked to revenue and cash flow. Production rates, supplier performance and certification can all affect how many airplanes are delivered in a given period.
GAAP and core figures
GAAP results follow US accounting rules. Boeing's core earnings per share exclude certain pension and post-retirement costs. Free cash flow is operating cash flow minus capital expenditure.
Boeing's three businesses
Commercial Airplanes builds passenger and cargo jets, including the 737, 767, 777 and 787 families. Defense, Space & Security makes military aircraft, satellites, weapons systems and space products for government customers. Global Services provides parts, maintenance, training and data services to commercial and government customers. Each business has its own customers, contracts and margins, so results can move in different directions in the same quarter.
What an operating margin is
An operating margin shows operating profit or loss as a percentage of revenue. A negative margin, as in Commercial Airplanes this quarter, means the business recorded an operating loss for the period.
What to watch
Key items include progress toward the 737 production target, first deliveries of the 737-7 and 737-10, the 777-9 certification programme and the full-year results early next year.
Risks and uncertainties
Production and certification timelines can change. Supply chain problems, labour issues and regulatory reviews can affect deliveries. Aerospace shares can be volatile.
What this means for investors
For Investing.one users following BA, delivery numbers, production rates and certification progress may be relevant. The information above is based on the company's results release.
Sources
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