A giant American maker of passenger jets and military hardware, Boeing builds the familiar 737, 767, 777, and 787 airliners flown by airlines worldwide, plus fighter jets, weapons, satellites, and maintenance services for governments and carriers. It began in 1916 when Seattle lumberman William Boeing, tired of waiting months for a seaplane part, built his own plane in a boathouse with a Navy engineer, naming the company Pacific Aero Products before renaming it after himself a year later. Their first aircraft, the "B&W" seaplane, was named for the founders' initials.
Boeing Q2 2026 operating income swung to $156M profit as revenue rose 8% to $24.6B
Boeing returned to a quarterly after last year's loss. rose 8% to $24.6B and was 9.8%, with operating income of $156M versus a $176M loss a year earlier as commercial deliveries and lower offset a defense loss. The company is profitable at the operating line but still posted a net loss of $444M.
Key takeaways
improved to $156M from a $176M loss a year earlier, helped by lower and a narrower loss, partially offset by a loss.
rose 8% to $24.6B, with up 8% on higher deliveries and up 13% on proprietary programs and KC-46 volume.
operating loss narrowed to $322M from $557M on higher deliveries and a lower .
Section summaries
Management's Discussion and Analysis
Boeing Q2 FY2026 revenues rose 8% to $24.6B, driven by higher commercial deliveries and defense volume, while GAAP operating income swung to $156M from a loss.
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Consolidated revenues increased 8% to $24.6B in Q2 FY2026, with up 8% on higher deliveries and up 13% on proprietary programs and KC-46 volume.
swung to a $15M operating loss due to a $280M on the program.
() improved to $1M from a $433M loss, primarily from a $405M reduction in unallocated items including the absence of a $445M DOJ charge in Q2 2025.
earnings fell 8% to $968M with margin at 18.1%, reflecting the Digital Aviation Solutions divestiture and disruptions.
turned positive at $1.2B for the first half and total debt was reduced to $45.9B from $54.1B at year-end 2025.
Net loss was $444M, or $0.67 , compared with a $611M net loss a year earlier.
What changed
Q1 2026 flagged the production rate increase from 42 to 47 per month in 2026 under FAA concurrence; this Q2 filing does not report a rate change but rose on higher 737 deliveries.
BDS cumulative catch-up adjustments were lower in Q1 2026; this quarter BDS posted a $15M loss from a $280M , a fixed-price development charge of the type earlier flagged.
BCA operating loss trajectory: Q1 2026 loss widened to $563M on R&D; Q2 loss narrowed to $322M as deliveries rose and fell.
Q2 2026 : Q1 used $0.2B; first-half turned to $1.2B provided, converting the prior use as production ramped.
FY2025 risk of Chinese delivery refusals: Q2 2026 filing restates no material change to risk factors from the 2025 annual report, and the quarter does not report a new Chinese delivery pause.
Spirit AeroSystems acquisition closed in December 2025 per the 2025 10-K; this Q2 2026 filing shows total debt reduced to $45.9B, reflecting post-close debt paydown.
What to watch
monthly production rate as Boeing targets 47/month in 2026 under FAA concurrence
Next BDS reach-forward or cumulative catch-up charges after the $280M loss this quarter
BCA operating loss trajectory as deliveries rise and reach-forward losses decline
Q3 2026 as the $1.2B first-half provided builds or reverses with production pace
improved to $156M from a $176M loss a year ago, helped by lower unallocated expenses and a smaller loss at , partially offset by a loss at Defense.
() improved to $1M from a $433M loss, primarily due to a $405M reduction in unallocated items, including the absence of a $445M DOJ charge in Q2 2025.
loss narrowed to $322M from $557M on higher deliveries and a lower on the 767 program, while Defense swung to a $15M loss due to a $280M reach-forward loss on .
earnings fell 8% to $968M, with margins declining to 18.1% from 19.9%, reflecting the Digital Aviation Solutions divestiture and ERP transition disruptions.
turned positive at $1.2B for the first half, driven by favorable changes, while total debt was reduced to $45.9B from $54.1B at year-end 2025.
Currently, we are involved in a number of legal proceedings. For a discussion of contingencies related to legal proceedings, see Note 18 to our Condensed Consolidated Financial Statements, which is hereby incorporated by reference.
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Currently, we are involved in a number of legal proceedings. For a discussion of contingencies related to legal proceedings, see Note 18 to our Condensed Consolidated Financial Statements, which is hereby incorporated by reference.
There have been no material changes in our risk factors from those disclosed in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025.
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There have been no material changes in our risk factors from those disclosed in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025.