The sharp EPS miss relative to consensus will likely pressure the stock in the near term, but the continued improvement in cash flow and deliveries provides a positive narrative. Monitor certification progress on 737-7/10 and 777X as catalysts for sentiment recovery.
Price Chart
Executive Summary
Boeing reported Q2 2026 revenue of $24.56B (+8% YoY) and GAAP loss per share of ($0.67), but core loss per share of ($0.76) missed the consensus estimate of ($0.31) by a wide margin. Operating cash flow turned positive at $1.36B and free cash flow reached $0.63B, while commercial deliveries rose 14% to 171 and total backlog hit a record $715B. The EPS miss overshadows the operational improvements, creating a mixed picture.
Key Financial Metrics
Key Facts
- Revenue $24.56B vs consensus $24.27B (beat by ~1.2%)
- GAAP diluted loss per share ($0.67) vs ($0.92) YoY
- Core (non-GAAP) loss per share ($0.76) vs consensus ($0.31) — 145% miss
- Operating cash flow $1.364B vs $0.227B YoY; free cash flow $0.631B vs ($0.200B) YoY
- Commercial deliveries 171 (up 14% YoY); record backlog $715B
- Defense segment posted $280M loss on VC-25B program
Financial Impact
Revenue beat by ~$290M, but EPS miss of $0.45 per share (~$355M implied net income shortfall) offsets the positive cash flow inflection
Risk Factors
- Continued GAAP and core losses despite improving revenue
- Defense program losses (VC-25B) and potential for further charges
- Certification delays on 737-7/10 and 777X could impact delivery targets
- Elevated debt of $45.9B and cash burn risk if free cash flow does not sustain
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-049929 |
| Document: ba-20260728.htm | 0001628280-26-049929 |
| Document: 0001628280-26-049929-index-headers.html | 0001628280-26-049929 |
| Document: 0001628280-26-049929-index.html | 0001628280-26-049929 |
| Document: 0001628280-26-049929.txt | 0001628280-26-049929 |
| 8-K Data (Synthetic) | 0001628280-26-049929 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 21d ago | GOVT-CONTRACT | $210.45 $198.20 | ▼ −5.82% | ▼ −5.60% | $193.14 (−8.23%) |
Aug 21, 2026 5w ago | 8-K | $210.46 $207.78 | ▼ −1.27% | ▼ −1.74% | $193.14 (−8.23%) |
Aug 13, 2026 7w ago | Court Ruling | $230.33 $215.10 | ▼ −6.61% | ▼ −4.65% | $193.14 (−16.15%) |
Aug 11, 2026 7w ago | ANALYST-UPGRADE | $233.08 $222.82 | ▼ −4.40% | ▼ −4.00% | $193.14 (−17.13%) |
Jul 30, 2026 9w ago | GOVT-CONTRACT | $220.90 $232.19 | ▲ +5.11% | ▲ +1.49% | $193.14 (−12.57%) |
Jul 28, 2026 9w ago | 8-K | $221.56 $233.49 | ▲ +5.38% | ▲ +3.12% | $193.14 (−12.83%) |
May 18, 2026 19w ago | Court Ruling | $220.54 $218.86 | ▲ +0.76% | ▲ +2.38% | $193.14 (+12.42%) |
Apr 22, 2026 23w ago | 8-K | $73.08 $71.77 | ▲ +1.80% | ▲ +1.85% | $193.14 (−164.29%) |
Mar 31, 2026 26w ago | Court Ruling | $198.97 $217.81 | ▲ +9.47% | ▲ +5.53% | $193.14 (−2.93%) |
Mar 31, 2026 26w ago | Court Ruling | $198.97 $217.81 | ▲ +9.47% | ▲ +5.53% | $193.14 (−2.93%) |
US Market Status
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