Boeing Company (the) · NYSE:BA
Boeing Company (the) — Q2 2026 Earnings Presentation
13 slides from Boeing Company (the)'s earnings presentation, Jul 28, 2026
Slide 1: Second Quarter 2026 Earnings Review
Second Quarter 2026 Earnings Review Kelly Ortberg President and Chief Executive Officer Jay Malave Executive Vice President and Chief Financial Officer July 28, 2026 Copyright © 2026 Boeing. All rights reserved.
Slide 2: Caution Concerning Forward-Looking Statements
Caution Concerning Forward-Looking Statements Certain statements made today constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “
Slide 3: Business Update
Business Update Focused on stabilizing the business, improving execution, changing culture and building our future FAA Approval to Begin TIA 4B Flight Testing T-7A Started Low-Rate Initial Production Activated LRIP on 737 North Line in July Copyright © 2026 Boeing. All rights reserved.
Slide 4: Second Quarter Financial Results
Second Quarter Financial Results Results reflect higher commercial delivery volume and favorable working capital timing Revenue Operating Margin Core Earnings Per Share* Free Cash Flow* $0.6B $24.6B 0.6% $22.7B ($0.76) ($1.24) ($0.2B) (0.8)% 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 * Non-GAAP measure
Slide 5: Commercial Airplanes
Commercial Airplanes Focused on safety, quality and development program execution Revenue Operating Margin $11.8B ▪ 737 began transitioning to 47 per month and $10.9B activated LRIP on the North Line in July ▪ Delivered 1st Riyadh Air 787 Dreamliners (2.7)% ▪ 777X received FAA approval to begin cert
Slide 6: Defense, Space & Security
Defense, Space & Security Focused on production stability and development program execution Revenue Operating Margin ▪ Results driven by higher volume and include 1.7% $280M of losses on VC-25B $7.5B $6.6B ▪ U.S. Navy MQ-25A Stingray completed first flight and was cleared for LRIP ▪ Began LRIP of th
Slide 7: Global Services
Global Services Focused on continuous improvement and meeting customer commitments Revenue Operating Margin ▪ Results reflect impact of Digital Aviation Solutions $5.3B $5.3B 19.9% divestiture, higher costs, and mix 18.1% ▪ Captured an award from the U.S. Navy to provide training systems for the P-8
Slide 8: Cash and Debt Balances
Cash and Debt Balances Focused on maintaining healthy liquidity position and repaying debt Cash and Marketable Securities Consolidated Debt $47.2B $45.9B S&P: BBB- Moody’s: Baa3 $20.9B $20.0B Fitch: BBB- 1Q26 2Q26 1Q26 2Q26 Copyright © 2026 Boeing. All rights reserved.
Slide 9: Copyright © 2026 Boeing. All rights reserved.
Copyright © 2026 Boeing. All rights reserved.
Slide 10: Non-GAAP Measure Disclosures
Non-GAAP Measure Disclosures The tables provided below reconcile the non-GAAP financial measures core operating earnings/(loss), core operating margins, and core loss per share with the most directly comparable GAAP financial measures of earnings/(loss) from operations, operating margins, and dilute
Slide 11: Non-GAAP Measure Disclosures
Non-GAAP Measure Disclosures The tables provided below reconcile the non-GAAP financial measure free cash flow with the most directly comparable GAAP financial measure operating cash flow. See The Boeing Company’s earnings press release dated July 28, 2026, for additional information on the use of f
Slide 12: Non-GAAP Measure Disclosures
Non-GAAP Measure Disclosures The table provided below reconciles the non-GAAP financial measure BGS Revenue excluding DAS with the most directly comparable GAAP financial measure BGS Revenue. DAS reflects those portions of our Digital Aviation Solutions business that were sold on October 31, 2025. S
Slide 13: Non-GAAP Measure Disclosures
Non-GAAP Measure Disclosures The table provided below reconciles the non-GAAP financial measure BDS Operating Margin excluding VC-25B charge with the most directly comparable GAAP financial measure BDS Operating Margin. (Millions) Second Quarter 2026 BDS Revenues (GAAP) $7,483 BDS VC-25B charge ($28