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Boeing (BA) Q1 FY2026 earnings: revenue $22.2 billion, up 14.0% on the year

Boeing Co. (BA) reported revenue of $22.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 14.0% on the same quarter a year earlier. Net income was -$4 million, and diluted earnings per share $-0.11. The figures are the company's own, from the 10-Q it filed with the SEC on 22 April 2026.

Revenue
$22.2 billion
+14.0% on the year · -7.2% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
2.0%
2.4% a year earlier
Q2 FY2024Q1 FY2026
Net income
-$4 million
Q2 FY2024Q1 FY2026
Diluted EPS
-$0.11
Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 new, 2 kept.

  • Revenue rose on deliveries: Revenue was $22.2 billion, up 14 percent from $19.5 billion, primarily reflecting 143 commercial deliveries against 130 a year earlier. Management attributed results to delivery volume, operational performance and order timing.
  • Loss per share smaller on both bases: GAAP diluted loss per share was ($0.11) against ($0.16). Core loss per share, a non-GAAP measure, was ($0.20) against ($0.49), excluding FAS/CAS service cost and non-operating pension items.
  • 737-10 enters final certification phase: The 737-10 began Type Inspection Authorization 2 in the quarter and made progress on the final phase of certification flight testing.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Revenue22,21723,94819,496-7.2%+14.0%
Cost of revenue19,67122,13617,079-11.1%+15.2%
Gross profit2,5461,8122,417+40.5%+5.3%
Gross margin11.5%7.6%12.4%
Research and development903964844-6.3%+7.0%
Operating income4488,777461-94.9%-2.8%
Operating margin2.0%36.7%2.4%
Pre-tax income26.08,31976.0-99.7%-65.8%
Income tax33.099.0107-66.7%-69.2%
Effective tax rate126.9%1.2%140.8%
Net income-4.08,220-37.0
Net margin-0.0%34.3%-0.2%
Diluted EPS-$0.11$10.23-$0.16
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow-1791,331-1,616
Capital expenditure1,275956674+33.4%+89.2%
Free cash flow-1,454375-2,290
Free cash flow margin-6.5%1.6%-11.7%
Cash from investing5,7116,400-1,717-10.8%
Cash from financing-7,028-2,951-338
Depreciation and amortisation573536466+6.9%+23.0%
Share-based compensation16183.0135+94.0%+19.3%
Dividends paid86.087.072.0-1.1%+19.4%
Diluted shares, weighted788m762m753m+3.4%+4.6%
Shares outstanding at period end788m1,012m754m-22.1%+4.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity5,9875,454-3,325+9.8%
Non-controlling interestn/a3.0n/a
Debt47,20953,84853,394-12.3%-11.6%
Operating lease liabilitiesn/a1,932n/a
Other liabilities111,591106,998106,425+4.3%+4.9%
Total liabilities and equity164,787168,235156,494-2.0%+5.3%
Fixed assets15,76315,36111,459+2.6%+37.6%
Goodwill17,63317,2758,091+2.1%+117.9%
Intangible assets1,5171,5671,904-3.2%-20.3%
Investments12,51219,52714,533-35.9%-13.9%
Cash and equivalents9,44110,92110,142-13.6%-6.9%
Receivables3,4852,9213,204+19.3%+8.8%
Other assets104,436100,663107,161+3.7%-2.5%
Total assets164,787168,235156,494-2.0%+5.3%

Questions

What was Boeing's revenue in Q1 FY2026?

Boeing (BA) reported revenue of $22.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 14.0% on the same quarter a year earlier.

How much did Boeing earn in Q1 FY2026?

Net loss for Q1 FY2026 was $4 million, and the diluted loss per share $0.11.

When did Boeing report Q1 FY2026 results?

Boeing filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 22 April 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022 †Q2 FY2022 †Q3 FY2022 †Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue14,79313,99116,68115,95619,98017,92119,75118,10422,01816,56916,86617,84015,24219,49622,74923,27023,94822,21724,56024,188
Cost of revenue17,30713,64514,55916,77818,12415,99817,81216,93919,32114,69315,63721,34716,83117,07920,31425,64522,13619,67122,14622,021
Gross profit-2,5143532,128-8151,8561,9231,9391,1652,6971,8761,229-3,507-1,5892,4172,435-2,3751,8122,5462,4142,167
Gross margin-17%3%13%-5%9%11%10%6%12%11%7%-20%-10%12%11%-10%8%11%10%9%
R&D6786336987277947417979588818689541,154836844910897964903921830
Operating income-4,171-1,162780-2,792-353-149-99.0-808283-86.0-1,090-5,761-3,770461-176-4,7818,777448156354
Operating margin-28%-8%5%-17%-2%-1%-1%-4%1%-1%-6%-32%-25%2%-1%-21%37%2%1%1%
Pre-tax income-4,700-1,618377-3,132-649-496-400-1,100-9.0-378-1,515-6,224-4,09376.0-561-5,1998,31926.0-365-123
Tax raten/an/a58%n/an/an/an/an/an/an/an/an/an/a141%n/an/a1%127%n/an/a
Net income-4,143-1,219193-3,275-634-414-149-1,636-23.0-343-1,439-6,170-3,865-37.0-611-5,3378,220-4.0-444-116
Net margin-28%-9%1%-21%-3%-2%-1%-9%-0%-2%-9%-35%-25%-0%-3%-23%34%-0%-2%-0%
Diluted EPS-$7.04-$2.06$0.32-$5.49-$1.06-$0.69-$0.25-$2.70-$0.04-$0.56-$2.33-$9.97-$5.46-$0.16-$0.92-$7.14$10.23-$0.11-$0.67-$0.26
Operating cash flow716-3,21681.03,1903,457-3182,87522.03,381-3,362-3,923-1,345-3,450-1,6162271,1231,331-1791,3641,496
Capital expenditure2223492632843264682963324315674046116486744278859561,2757331,032
Free cash flow494-3,565-1822,9063,131-7862,579-3102,950-3,929-4,327-1,956-4,098-2,290-200238375-1,454631464
Dividends paidn/an/an/an/an/an/an/an/an/an/an/an/an/a72.086.086.087.086.086.086.0
Shares outstanding1,012m592m594m596m1,012m602m603m605m1,012m614m616m618m1,012m754m756m760m1,012m788m790m792m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 22 April 2026: the filing.