Boeing closed the third quarter of 2026 with a record backlog, two newly certified 737 MAX variants and a major new fighter contract, but remained slightly in the red, according to financial results published on October 27, 2026.
Boeing’s revenue for the quarter rose 4% year-on-year to $24.2 billion, driven mainly by stronger performance in its defense and services businesses. The company reported a net loss of $116 million, a sharp improvement on the $5.3 billion loss a year earlier, when results were hit by a large charge on the 777X program.
Operating cash flow came in at $1.5 billion and free cash flow at $0.5 billion. That was despite payments of about $0.7 billion linked to Boeing’s settlement with the US Department of Justice.
The company ended the quarter with $20.7 billion in cash and investments, while its debt stayed at $45.9 billion. Boeing’s total backlog grew to a record $745 billion.
“Recent milestones, including certification of the 737-7 and 737-10 and selection to design and build the Navy’s sixth-generation fighter aircraft, are important steps as we continue building on our progress,” said Kelly Ortberg, Boeing’s President and Chief Executive Officer. “But we are not done.”
He added that the company remains “focused on safety and quality” as it works to “build the durable performance our stakeholders expect.”
737-7 and 737-10 finally certified
Boeing delivered 161 commercial airplanes in the third quarter, one more than a year earlier, bringing its total for the first nine months of 2026 to 475. Most of those were 737s, with 124 handed over in the quarter.
The quarter’s biggest commercial milestone was certification of the two remaining 737 MAX variants. The 737-7 received amended type certification from the Federal Aviation Administration (FAA) during the quarter, and the 737-10 followed in October 2026.
The 737 program is working toward a stable production rate of 47 aircraft per month, while the 787 program remains steady at eight per month. On the 777X, certification flight testing of the 777-9 continued, and Boeing says the aircraft remains on track for first delivery in 2027.
Despite the progress, the Commercial Airplanes unit remained loss-making, with an operating loss of $697 million on revenue of $10.7 billion. Boeing attributed this to a less favorable mix of aircraft deliveries, higher projected costs tied to future production rate adjustments and rising supply chain costs.
Orders remained strong. Boeing booked 300 net orders in the quarter, including from Turkish Airlines, Ethiopian Airlines and Lufthansa. Its commercial backlog now stands at more than 6,300 airplanes, worth a record $612 billion.
F/A-XX selection lifts defense business
Boeing’s Defense, Space & Security division had a stronger quarter.
Revenue rose 15% to $7.9 billion, and operating earnings more than quadrupled to $492 million. The result was helped by a $252 million gain from the sale of HRL Laboratories and by improved operational performance.
During the quarter, the US Navy selected Boeing to design, build and deliver its F/A-XX next-generation fighter aircraft. The contract has not yet been added to the backlog while the source selection and evaluation review is completed.
Boeing also received a seven-year contract to expand production of the PAC-3 missile seeker. The division’s backlog reached a record $101 billion, with 23% of orders coming from customers outside the United States.
Services hold steady as Boeing eyes year-end
Boeing Global Services continued to be the company’s most profitable unit. Revenue grew 4% to $5.6 billion, with an operating margin of 18.3%, reflecting higher volume and a favorable business mix.
The unit won a US Army contract to maintain the AH-64 Apache fleet and ended the quarter with a $33 billion backlog.
With both remaining 737 MAX variants now certified, the 777X moving toward first delivery and a record backlog across all three businesses, Boeing heads into the final quarter of 2026 with momentum, although its commercial airplane division has yet to return to profitability.