Boeing revenue rises 14% in Q1 on higher deliveries; backlog hits record $695B
Company posted a GAAP loss of 11 cents per share, improved cash flow versus a year ago, and reported 143 commercial airplane deliveries.
OKLAHOMA CITY (OBV) — Boeing reported first-quarter 2026 revenue of $22.2 billion, up 14% from a year earlier, driven primarily by 143 commercial airplane deliveries. The company posted a GAAP loss per share of 11 cents and a core (non-GAAP) loss per share of 20 cents.
Boeing reported operating cash flow of -$179 million and free cash flow (non-GAAP) of -$1.5 billion, while total company backlog increased to a record $695 billion, including more than 6,100 commercial airplanes. Boeing said results reflected higher delivery volume, improved operational performance and favorable order timing.
In Commercial Airplanes, revenue rose to $9.2 billion on higher deliveries, while the segment posted an operating loss of $563 million (operating margin -6.1%). Boeing said the 737 program is producing at a 42-per-month rate, the 787 program is stabilizing at eight per month, and the 777X program continued certification progress, with first delivery of the 777-9 anticipated in 2027.
Defense, Space & Security revenue increased to $7.6 billion with operating earnings of $233 million (margin 3.1%), and Global Services posted $5.37 billion in revenue with operating earnings of $971 million (margin 18.1%). Boeing also reported quarter-end cash and marketable securities of $20.9 billion and consolidated debt of $47.2 billion.
“We’re building on our momentum with a strong start to the year and growing record-breaking backlog across our business,” CEO Kelly Ortberg said.
