Boeing Company
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +8.16%.
Did BA Beat Earnings? Q1 2025 Results
Boeing posted a sharper-than-expected narrowing of losses in Q1 2025, with an adjusted loss per share of $-0.49 that handily cleared the consensus estimate of $-1.303, a 62.39% beat, as the planemaker's recovery under CEO Kelly Ortberg gained visible traction. Revenue rose 17.7% year-over-year to $19.50 billion, just shy of the $19.79 billion Wall Street had anticipated, but the headline miss did little to obscure the operational progress driving the story: commercial airplane deliveries surged 57% to 130 units, lifting Commercial Airplanes segment revenue 75% to $8.15 billion and helping swing consolidated operating results to a $461 million profit from a $86 million loss a year ago. Free cash flow remained negative at $-2.29 billion, though it improved meaningfully from $-3.93 billion in the prior-year quarter. A complicating wrinkle emerged as China halted aircraft deliveries amid trade tensions, forcing Boeing to remarket jets originally bound for Chinese carriers. Looking ahead, Boeing is targeting 737 production of 38 per month this year and expects the 787 to ramp from five to seven monthly, with 777-9 <a href="https://247wallst.com/investing/2025/12/05/lockheed-delivers-steady-defense-profits-as-boeing-burns-billions-ramping-production/">first delivery still on track</a> for 2026.
- Commercial airplane deliveries increased 57% year-over-year to 130 units
- 737 production gradually increased in the quarter
- Improved operational performance across businesses from focus on safety and quality
- Global Services maintained strong 18.6% operating margin reflecting favorable performance and mix
“Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality.”
Boeing CEO, on the earnings call
Forward Guidance & Outlook
Boeing expects 737 production to reach 38 per month in 2025. The 787 program is expected to increase from five to seven per month this year. First delivery of the 777-9 is still anticipated in 2026. The company entered an agreement to sell portions of its Digital Aviation Solutions business, with the transaction expected to close by the end of 2025 subject to regulatory approval. Results only reflect tariffs enacted as of March 31, suggesting potential future tariff-related cost impacts. The pending acquisition of Spirit AeroSystems remains subject to closing conditions.
BA YoY Financials
BA Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.