Boeing Reports Q1 Revenue Growth Despite Losses And Negative Cash Flow

Boeing Co. (NYSE:BA) reported first-quarter revenue growth, with shares rising 3% in pre-market trading, although profitability and cash flow remained under pressure.

Revenue increased 14% year-over-year to $22.2 billion from $19.5 billion. The company delivered 143 commercial aircraft during the quarter, compared to 130 deliveries in the same period last year, while maintaining 737 production at 42 units per month.

Boeing reported a GAAP loss per share of $0.11 and a core loss per share of $0.20. Operating cash flow was negative $179 million, and free cash flow stood at negative $1.5 billion. Cash and marketable securities declined to $20.9 billion from $29.4 billion at the start of the quarter, primarily due to debt repayments.

Total backlog increased to $695 billion, including over 6,100 commercial aircraft, with Commercial Airplanes backlog reaching $576 billion.

Commercial Airplanes revenue rose to $9.2 billion from $8.1 billion, although the segment recorded an operating loss of $563 million. Boeing continued to expect certification of the 737-7 and 737-10 in 2026, with deliveries beginning in 2027, alongside anticipated first delivery of the 777-9 in 2027.

Defense, Space & Security revenue increased 21% to $7.6 billion, generating operating earnings of $233 million and a 3.1% margin, with backlog reaching $86 billion. Global Services revenue rose 6% to $5.4 billion, with operating earnings of $971 million and an 18.1% margin, and backlog totaling $33 billion.

The company secured 140 net orders during the quarter, including deals with Aviation Capital Group, Delta Air Lines, and Air India.