Boeing Sees Strong 3Q25 Performance Despite US$5 Billion Charge

Boeing reported strong revenue and a return to positive cash flow in 3Q25, despite a US$5 billion charge linked to delays in its 777X program. CEO Kelly Ortberg called the results an “important milestone,” while noting the company’s recovery remains a work in progress.

The aerospace giant posted US$23 billion in revenue, up 30% year-over-year, fueled by record commercial airplane deliveries—the highest quarterly total since 2018. Free cash flow rebounded to US$238 million, a significant improvement from negative US$2 billion last year. Nevertheless, Boeing recorded a GAAP net loss of over US$5 billion (around US$7 per share), primarily due to the 777X pre-tax charge, with certification now projected for 2027.

The Commercial Airplanes segment posted nearly US$11.1 billion in revenue, a 50% increase, though it operated at a 48% negative margin. In contrast, Defense, Space & Security returned to profitability with a 1.7% margin on US$6.9 billion in revenue, while Global Services achieved a 17.5% margin on US$5.4 billion in sales. Boeing’s total backlog reached US$636 billion, including more than 5,900 aircraft.

Ortberg emphasized the stabilization of the 737 Max production line at 38 planes per month, with FAA approval to increase to 42 per month starting October. He stressed that the company’s focus on “safety and quality” is yielding results, though the 777X delay remains a key challenge.

Boeing is also navigating external pressures, including a four-month machinists’ strike in its Defense unit and a debt load of US$53.4 billion, more than twice its US$23 billion in cash and securities. The company plans to cut 17,000 jobs, or 10% of its global workforce. Shares slipped roughly 1% pre-market.