Boeing reported income forward of Wall Road expectations for the fourth quarter as the corporate’s turnaround picked up steam following years of crises.
The corporate’s airplane deliveries final yr had been the very best since 2018, serving to drive income. Boeing introduced in $23.9 billion within the final three months of 2025, a 57% enhance over the identical interval in 2024 and topping analysts’ expectations. Money circulation of $400 million was roughly double what Wall Road was anticipating.
CEO Kelly Ortberg advised workers that the corporate is making progress and that there is “rather a lot to be optimistic about” in 2026.
“On the identical time, with progress comes expectations, and our prospects and stakeholders are going to count on extra from us this yr,” he mentioned.
“That’ll proceed to develop as we ramp up manufacturing and cope with a few of these headwinds that we have now to money circulation within the close to time period,” he mentioned. “We’re marching to this $10 billion free money circulation quantity and it may take us somewhat little bit of time however we have got a methodical plan to get there.”
Here is how Boeing carried out within the fourth quarter, in contrast with analysts’ estimates compiled by LSEG:
- Loss per share: $1.12 adjusted vs. a lack of 39 cents anticipated
- Income: $23.95 billion vs. $22.6 billion anticipated
That adjusted loss per share excludes a $9.6 billion acquire on Boeing’s sale of its Jeppesen plane navigation unit. Boeing mentioned that sale boosted its earnings by $11.83 per share, and stripping that out left an adjusted lack of $1.12 per share.
The corporate beat Wall Road estimates on its business airplane income, reporting $11.38 billion versus $10.72 billion anticipated, in response to StreetAccount. That marked a virtually 140% enhance from the yr prior. Its protection unit income rose 37% from the fourth quarter of 2024 to $7.42 billion.
Boeing nonetheless has a protracted highway forward to ship delayed plane — a few of which have not but received regulator approval — to prospects world wide.
Boeing delivered 600 airplanes to prospects final yr, practically double the quantity from 2024 and probably the most since 2018. Ortberg, who got here out of retirement to run the producer in 2024, and different executives have mentioned extra manufacturing will increase are on the horizon within the coming months.
Deliveries are key for plane producers as a result of prospects pay the majority of an plane’s worth once they obtain it.
For Boeing, it is a essential ramp-up after the corporate has burned by roughly $40 billion because the first quarter of 2019 — when the second of two deadly crashes of the bestselling 737 Max plunged it into disaster for years — by the third quarter of 2025. The Covid-19 pandemic, residual provide chain and labor shortages, and a number of manufacturing issues have continued to hamstring the corporate, the most important U.S. exporter by worth.
Boeing handed over 63 jetliners to prospects final month, and 44 of these deliveries had been 737 Maxes, the producer mentioned earlier this month.
Airbus nonetheless delivered extra plane final yr than Boeing, with 793, although that complete is beneath the document 863 airplanes the European producer handed over in 2019.
However Boeing outsold Airbus with 1,173 internet orders in 2025 over its European competitor’s 889 internet orders for the yr. Airways are beginning to look out to the 2030s, securing supply slots as they chart development and exchange older, extra fuel-thirsty planes. Boeing counts Alaska Airways and Delta Air Strains as prospects in current weeks for deliveries into the following decade.
Boeing is way from out of the woods, although. Buyers will probably be keen to listen to from the corporate’s management about what supply tempo is most life like this yr. The producer nonetheless wants the Federal Aviation Administration’s approval for additional Max will increase past 42 per 30 days, a requirement the regulator instated after a near-catastrophic midair blowout of a panel in January 2024.
Buyers are more likely to search a firmer timeline for long-delayed 737 Max 7 and Max 10 certification in addition to the twin-engine 777X, which is able to develop into the most important wide-body in its lineup. They’re additionally in search of an replace on Boeing’s protection enterprise, the place delays have included the 2 747s that can function the following Air Pressure One plane.
Boeing reported fourth-quarter internet earnings of $8.22 billion, or $10.23 a share, up from a loss $3.86 billion, or a lack of $5.46 billion, a yr earlier.
Boeing executives will host an earnings convention name at 10:30 a.m. ET.
