Boeing narrows Q3 loss as 737 Max ramp waits
Boeing posted a $116 million third-quarter loss on $24.2 billion in revenue, according to its earnings release and CNBC. Core loss was 34 cents a share, and backlog hit a record $745 billion. CEO Kelly Ortberg said a big 737 Max rate jump waits until late 2027.
Boeing reported a third-quarter net loss of $116 million, or 26 cents a share, on revenue of $24.2 billion, according to the company's earnings release and CNBC. Core loss was 34 cents a share. A year earlier Boeing lost $5.3 billion, or $7.14 a share, after a large charge tied to the 777X program. Revenue rose 4%. Free cash flow was $464 million. Total backlog hit a record $745 billion, the release said.
CEO Kelly Ortberg said on the earnings call that Boeing is targeting 52 of its best-selling 737 Max jets a month in the second half of 2027, CNBC reported. The company has been building about 47 a month and does not expect a big ramp until late 2027 because wing production has been slower than planned. "I know everybody wants us to go faster, but we're going to do it right," Ortberg said in a CNBC interview. Boeing shares fell about 10% Tuesday, CNBC said.
Commercial airplanes delivered 161 jets in the quarter, one more than a year earlier, but commercial revenue fell 3% to $10.7 billion on a weaker delivery mix and higher projected costs, the company said. Defense revenue jumped 15% to $7.9 billion. The FAA recently certified the 737 Max 10 after the Max 7, completing Max family certifications. The Navy also picked Boeing for its next-generation fighter design, the release noted.
The 777X program remains on track for first delivery in 2027, Boeing said, with 777-9 certification flight testing continuing. Ortberg said in a staff note that expectations are rising and that the company must lift lean performance while keeping safety and quality high. Aircraft payments land mainly at delivery, so the production pace is central to the recovery story investors are watching.
What we know: Boeing narrowed its third-quarter loss to $116 million on $24.2 billion in sales, set a record backlog, and said a major 737 Max rate increase waits until late 2027.
What we don't: Exact 2026 delivery totals for the year, or when wing output will support a sustained rate above 47 a month.
Sources:
- CNBC — https://www.cnbc.com/2026/10/27/-boeing-ba-q3-2026-earnings.html
- Boeing — https://investors.boeing.com/investors/news/press-release-details/2026/Boeing-Reports-Third-Quarter-Results/default.aspx
Where outlets agree Boeing's release and CNBC both report a narrower third-quarter loss, higher revenue, and a record backlog alongside a cautious 737 Max production outlook.
Where they differ CNBC reports Ortberg targeting 52 jets a month in the second half of 2027 and a roughly 10% share drop, while Boeing's release stresses backlog, cash flow, and certifications without those call details.