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Boeing's Q2 Loss Wider Than Estimated, Revenues Increase Y/Y
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Key Takeaways
BA posted higher Q2 revenues and a record $715.3 billion backlog despite a wider-than-expected adjusted loss.
BA delivered 171 commercial airplanes, lifting Commercial Airplanes revenue 8% year over year.
BA reduced long-term debt and generated positive operating cash flow in the first half of 2026.
The Boeing Company (BA - Free Report) incurred an adjusted loss of 76 cents per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 34 cents. The bottom line improved from the year-ago quarter’s reported loss of $1.24 per share.
Including one-time items, the company reported a GAAP loss of 67 cents per share, narrower than the year-ago quarter’s reported loss of 92 cents.
BA’s Total Revenues
Revenues amounted to $24.56 billion, which marginally outpaced the Zacks Consensus Estimate of $24.05 billion by 2.1%. The top line also surged 8% from the year-ago quarter’s reported figure of $22.75 billion.
The Boeing Company Price, Consensus and EPS Surprise
Backlog at the end of second-quarter 2026 totaled $715.3 billion, up from $682.2 billion recorded at the end of 2025.
BA’s Segmental Performances
Commercial Airplanes: Revenues in this segment surged 8% year over year to $11.8 billion, driven by higher jet deliveries. The segment incurred an operating loss of $322 million compared with the year-ago quarter’s operating loss of $557 million.
During the quarter under review, Commercial Airplanes delivered 171 airplanes and backlog included over 6,200 airplanes valued at a record $597 billion.
Boeing Defense, Space & Security (“BDS”): The segment recorded revenues of $7.5 billion, reflecting year-over-year growth of 13%. It generated an operating loss of $15 million against the year-ago quarter’s income of $110 million.
Global Services: The segment recorded revenues of $5.3 billion, reflecting year-over-year growth of 1%. This unit generated an operating income of $0.97 billion compared with the year-ago quarter’s figure of $1.05 billion.
BA’s Financial Condition
Boeing exited second-quarter 2026 with cash and cash equivalents of $7.24 billion and short-term and other investments of $12.78 billion. At the end of 2025, the company had cash and cash equivalents of $10.92 billion and short-term and other investments worth $18.48 billion.
Long-term debt amounted to $41.34 billion, down from $45.64 billion recorded at the end of 2025.
The company’s net cash provided by operating activities in the first six months of 2026 was $1.19 billion against cash used of $1.39 billion in the year-ago period.
RTX Corporation’s (RTX - Free Report) second-quarter 2026 adjusted earnings per share (EPS) of $1.89 beat the Zacks Consensus Estimate of $1.66 by 13.9%. The bottom line improved 21.1% from the year-ago quarter’s level of $1.56.
RTX’s revenues rose 14.5% year over year to $24.71 billion and beat the consensus mark of $22.83 billion by 8.2%. Growth was supported by higher commercial aftermarket and defense demand. Backlog climbed 22% to $289 billion.
Lockheed Martin Corporation (LMT - Free Report) reported second-quarter 2026 adjusted earnings of $7.94 per share, which beat the Zacks Consensus Estimate of $7.22 by 10%. The bottom line increased 8.9% from the year-ago quarter's reported figure of $7.29.
LMT’s net sales were $20.06 billion, which beat the Zacks Consensus Estimate of $19.34 billion by 3.7%. The top line inched up 10.5% from $18.16 billion reported in the year-ago quarter.
Northrop Grumman Corporation (NOC - Free Report) reported second-quarter 2026 adjusted earnings of $7.68 per share, which beat the Zacks Consensus Estimate of $6.84 by 12.3%. The bottom line, however, declined 5.8% from the year-ago quarter’s level of $8.15.
NOC’s total sales of $10.88 billion beat the Zacks Consensus Estimate of $10.80 billion by 0.7%. The top line also improved 5.1% from $10.35 billion reported in the year-ago quarter.
View the Zacks #1 Rank List
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Boeing's Q2 Loss Wider Than Estimated, Revenues Increase Y/Y
Key Takeaways
The Boeing Company (BA - Free Report) incurred an adjusted loss of 76 cents per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 34 cents. The bottom line improved from the year-ago quarter’s reported loss of $1.24 per share.
Including one-time items, the company reported a GAAP loss of 67 cents per share, narrower than the year-ago quarter’s reported loss of 92 cents.
BA’s Total Revenues
Revenues amounted to $24.56 billion, which marginally outpaced the Zacks Consensus Estimate of $24.05 billion by 2.1%. The top line also surged 8% from the year-ago quarter’s reported figure of $22.75 billion.
The Boeing Company Price, Consensus and EPS Surprise
The Boeing Company price-consensus-eps-surprise-chart | The Boeing Company Quote
BA’s Total Backlog
Backlog at the end of second-quarter 2026 totaled $715.3 billion, up from $682.2 billion recorded at the end of 2025.
BA’s Segmental Performances
Commercial Airplanes: Revenues in this segment surged 8% year over year to $11.8 billion, driven by higher jet deliveries. The segment incurred an operating loss of $322 million compared with the year-ago quarter’s operating loss of $557 million.
During the quarter under review, Commercial Airplanes delivered 171 airplanes and backlog included over 6,200 airplanes valued at a record $597 billion.
Boeing Defense, Space & Security (“BDS”): The segment recorded revenues of $7.5 billion, reflecting year-over-year growth of 13%. It generated an operating loss of $15 million against the year-ago quarter’s income of $110 million.
Global Services: The segment recorded revenues of $5.3 billion, reflecting year-over-year growth of 1%. This unit generated an operating income of $0.97 billion compared with the year-ago quarter’s figure of $1.05 billion.
BA’s Financial Condition
Boeing exited second-quarter 2026 with cash and cash equivalents of $7.24 billion and short-term and other investments of $12.78 billion. At the end of 2025, the company had cash and cash equivalents of $10.92 billion and short-term and other investments worth $18.48 billion.
Long-term debt amounted to $41.34 billion, down from $45.64 billion recorded at the end of 2025.
The company’s net cash provided by operating activities in the first six months of 2026 was $1.19 billion against cash used of $1.39 billion in the year-ago period.
BA’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Release
RTX Corporation’s (RTX - Free Report) second-quarter 2026 adjusted earnings per share (EPS) of $1.89 beat the Zacks Consensus Estimate of $1.66 by 13.9%. The bottom line improved 21.1% from the year-ago quarter’s level of $1.56.
RTX’s revenues rose 14.5% year over year to $24.71 billion and beat the consensus mark of $22.83 billion by 8.2%. Growth was supported by higher commercial aftermarket and defense demand. Backlog climbed 22% to $289 billion.
Lockheed Martin Corporation (LMT - Free Report) reported second-quarter 2026 adjusted earnings of $7.94 per share, which beat the Zacks Consensus Estimate of $7.22 by 10%. The bottom line increased 8.9% from the year-ago quarter's reported figure of $7.29.
LMT’s net sales were $20.06 billion, which beat the Zacks Consensus Estimate of $19.34 billion by 3.7%. The top line inched up 10.5% from $18.16 billion reported in the year-ago quarter.
Northrop Grumman Corporation (NOC - Free Report) reported second-quarter 2026 adjusted earnings of $7.68 per share, which beat the Zacks Consensus Estimate of $6.84 by 12.3%. The bottom line, however, declined 5.8% from the year-ago quarter’s level of $8.15.
NOC’s total sales of $10.88 billion beat the Zacks Consensus Estimate of $10.80 billion by 0.7%. The top line also improved 5.1% from $10.35 billion reported in the year-ago quarter.