Boeing (BA) 2Q 2026 earnings

Boeing’s The plane maker reported a larger-than-expected loss in the second quarter as the long-delayed Air Force One program hurt results.

Boeing lost $280 million from its program to deliver two 747s to the US government that will serve as the next generation Air Force One aircraft, and said it was increasing investment in the aircraft. It said it still expects first delivery in 2028.

“As we make progress on our development programs, you’re never done until you’re done,” CEO Kelly Ortberg said in a memo to staff.

Ortberg told CNBC’s “Squawk on the Street” that the Air Force One program is in the design phase.

“It is very important for our customer that we deliver this aircraft on time,” he said. “We’re going to put more resources into making sure we do that.”

This month, President Donald Trump took his first flight on a luxury Boeing 747 gifted by Qatar and planned to serve as the new Air Force One, as Boeing works on new jets. that jet security He was reportedly interrogated after traveling to Türkiye and leaving the country on the old Air Force One.

Here is the data the company reported for the second quarter compared to the expectations of Wall Street analysts participating in the LSEG survey:

• Loss per share: Adjusted loss of 76 cents per share versus expectations of 30 cents
• Revenues: 24.25 billion dollars is expected against the expectation of 24.56 billion dollars

The aircraft maker, a leading exporter to the United States, increased its revenue in the second quarter by 8% from a year earlier to $24.56 billion, driven by gains in its business, including increased commercial aircraft deliveries. Boeing is increasing production of its best-selling 737 Max aircraft to 47 per month, with further increases planned.

Boeing’s commercial aircraft deliveries in the second quarter increased 14% from the previous year, to 171 aircraft compared to 150 aircraft.

Free cash flow of $631 million was well above the $177 million cash burn analysts expected and compares with a $200 million burn in the prior-year second quarter.

Boeing reported a net loss of $428 million, or 67 cents per share, compared to a net loss of $612 million, or 92 cents per share, last year. Adjusting for one-time items, Boeing reported a loss of 76 cents per share.

“While two quarters are not a year, if we work together and focus on safety, quality and on-time performance we will increase our competitiveness and set ourselves up for a great second half,” Ortberg said in a staff memo.

Upcoming milestones include certification of other overdue aircraft programs. The first of these will probably be the Boeing 737 Max 7, the smallest aircraft of the aircraft family.

Boeing executives will call with analysts at 10:30 a.m. ET, where they will likely face questions about the certification of the 737 Max 10 and its new wide-body plane, the 777X.