Boeing's stock dropped 2.4% to $217.97 following the release of its third-quarter 2025 earnings, which revealed a mixed performance. The company reported revenue of $23.27 billion, a 30% year-over-year increase that surpassed analyst expectations of $21.97 billion, driven by higher commercial jet deliveries and improved performance across all business segments.
However, Boeing posted an adjusted loss per share of $7.47, missing the anticipated $4.59 loss, largely due to a $4.9 billion noncash charge related to further delays in the 777X wide-body aircraft program. First deliveries of the 777X are now expected in 2027, reflecting ongoing certification hurdles.
On a positive note, Boeing generated positive free cash flow of $238 million for the first time since 2023, a significant improvement from negative $884 million expected. Operating cash flow also rose to $1.12 billion, beating estimates. Commercial aircraft deliveries totaled 160 jets in the quarter, up from 116 a year earlier, including 121 737 Max jets, 24 787s, nine 777s, and six 767s. The company is increasing 737 Max production to 42 per month after FAA approval.
CEO Kelly Ortberg, who took over in August 2024, emphasized steady progress in safety and quality, stating, "With a sustained focus on safety and quality, we achieved important milestones in our recovery as we generated positive free cash flow in the quarter." The defense segment revenue grew 25% to $6.9 billion, while Global Services revenue increased 10% to $5.4 billion. Despite this, labor challenges persist, with approximately 3,200 unionized workers on strike at the St. Louis plant over contract terms.
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