Boeing boosts its recovery with more deliveries of commercial aircraft

Boeing reported positive financial results for the third quarter of 2025, with revenues of US$23.3 billion, reflecting improved operating performance and higher delivery volumes in its commercial airplane business. The company generated operating cash flow of US$1.1 billion and free cash flow (non-GAAP) of US$0.2 billion, while its total order backlog reached US$636 billion, encompassing more than 5,900 aircraft.

Kelly Ortberg, Boeing's president and CEO, highlighted the progress made in the company's recovery:

“With a sustained focus on safety and quality, we achieved significant milestones in our recovery. We generated positive free cash flow and, together with the FAA, agreed to increase 737 production to 42 units per month. While we are disappointed by the delay in the 777X schedule, we remain focused on stabilizing our operations and strengthening trust with all our stakeholders,” he stated.

Performance by division

In the Commercial Aircraft area, revenues increased to US$11.1 billion, driven by growth in deliveries, which reached 160 aircraft, the highest quarterly total since 2018. The 737 program maintained its production at 38 units per month during the quarter and agreed with the Federal Aviation Administration (FAA) to increase it to 42 units starting in October.

The 787 program continued to stabilize its production at seven units per month and made progress in expanding its operations in South Carolina, while the 777X updated its certification schedule with the first delivery expected in 2027, resulting in a $4.9 billion charge to the quarter's results.

During the period, Boeing recorded 161 net orders, including 50 787 aircraft for Turkish Airlines and 30 737-8 aircraft for Norwegian Group, with a backlog valued at US$535 billion.

The Defense, Space & Security division reported revenues of US$6.9 billion, with an operating margin of 1.7%. Key highlights included a contract with the U.S. Space Force to enhance satellite communication capabilities and a collaboration with the Royal Australian Air Force to test the autonomous capabilities of the MQ-28 Ghost Bat. The segment's order backlog grew to US$76 billion, with 20% coming from international clients.

Meanwhile, Global Services achieved revenues of US$5.4 billion, with an operating margin of 17.5%, driven by higher sales volume. During the quarter, the division secured a contract with the U.S. Navy for the maintenance of F/A-18 aircraft and signed a strategic agreement with Korean Air to advance predictive maintenance through data analytics.

Perspectives

Boeing maintains a strong financial position, with $23 billion in cash and investments, plus $10 billion in undrawn credit lines. The company remains focused on stabilizing production, improving quality, and meeting its regulatory and commercial obligations, while advancing its key development programs.

Source: Boeing – Third Quarter 2025 Financial Results