Boeing Company (the) · NYSE:BA
Boeing Company (the) — Q1 2026 Earnings Presentation
12 slides from Boeing Company (the)'s earnings presentation, Apr 22, 2026
Slide 1: First Quarter 2026 Earnings Review
First Quarter 2026 Earnings Review Kelly Ortberg President and Chief Executive Officer Jay Malave Executive Vice President and Chief Financial Officer April 22, 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 Everett Team Prepares for 737 MAX Production SLS Core Stage Powered Artemis II Mission Largest-Ever Landing Gear Exchange Program Copyright © 2026 Boeing. All rights reserved.
Slide 4: First Quarter Financial Results
First Quarter Financial Results Results reflect commercial delivery volume and improved operational performance Revenue Operating Margin Core Earnings Per Share* Free Cash Flow* $22.2B $19.5B 2.4% 2.0% ($0.20) ($1.5B) ($0.49) ($2.3B) 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 * Non-GAAP measure. See th
Slide 5: Commercial Airplanes
Commercial Airplanes Focused on safety, quality and development program execution Revenue Operating Margin ▪ 737 continues to produce at 42 per month; began $9.2B $8.1B TIA 2 phase of certification flight testing ▪ 787 continued stabilizing at 8 per month ▪ 777-9 received authorization to begin TIA
Slide 6: Defense, Space & Security
Defense, Space & Security Focused on production stability and development program execution Revenue Operating Margin ▪ Signed seven-year framework agreement to expand PAC-3 Seeker production $7.6B 3.1% $6.3B 2.5% ▪ Announced strategic partnership with Rheinmetall to offer the MQ-28 Ghost Bat to Germ
Slide 7: Global Services
Global Services Continued strong performance… focused on meeting customer commitments Revenue Operating Margin 18.6% ▪ Continued strong performance reflects higher $5.4B 18.1% government volume and mix $5.1B ▪ Secured largest-ever Landing Gear Exchange Program agreement with Singapore Airlines Group
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 S&P: BBB- $54.1B $29.4B Moody’s: Baa3 $47.2B Fitch: BBB- $20.9B 4Q25 1Q26 4Q25 1Q26 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, core operating margins, and core loss per share with the most directly comparable GAAP financial measures of earnings from operations, operating margins, and diluted loss per sha
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 April 22, 2026, for additional information on the use of
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. F