Boeing (BA) Q2 FY2026 earnings: revenue $24.6 billion, up 8.0% on the year

Boeing Co. (BA) reported revenue of $24.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 8.0% on the same quarter a year earlier. Net income was -$444 million, and diluted earnings per share $-0.67. The figures are the company's own, from the 10-Q it filed with the SEC on 28 July 2026.

Revenue

$24.6 billion

+8.0% on the year · +10.5% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

0.6%

-0.8% a year earlier

Q3 FY2024Q2 FY2026

Net income

-$444 million

Q3 FY2024Q2 FY2026

Diluted EPS

-$0.67

Q3 FY2024Q2 FY2026

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

What management said

Guidance figures: 1 raised, 2 kept.

Revenue rose on higher deliveries: Revenue was $24.6 billion, up 8% from $22.7 billion a year earlier. The company attributed the increase primarily to 171 commercial deliveries, against 150.
Loss per share smaller than last year: Diluted loss per share was $0.67 against $0.92 a year earlier. Core loss per share, a non-GAAP measure, was $0.76 against $1.24.
Operating earnings positive this quarter: Earnings from operations were $156 million, against a $176 million loss a year earlier, with operating margin of 0.6 percent. First-half earnings were $604 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	24,560	22,217	22,749	+10.5%	+8.0%
Cost of revenue	22,146	19,671	20,314	+12.6%	+9.0%
Gross profit	2,414	2,546	2,435	-5.2%	-0.9%
Gross margin	9.8%	11.5%	10.7%
Research and development	921	903	910	+2.0%	+1.2%
Operating income	156	448	-176	-65.2%
Operating margin	0.6%	2.0%	-0.8%
Pre-tax income	-365	26.0	-561
Income tax	63.0	33.0	51.0	+90.9%	+23.5%
Effective tax rate	n/a	126.9%	n/a
Net income	-444	-4.0	-611
Net margin	-1.8%	-0.0%	-2.7%
Diluted EPS	-$0.67	-$0.11	-$0.92

$ million except per share.

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

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	1,364	-179	227		+500.9%
Capital expenditure	733	1,275	427	-42.5%	+71.7%
Free cash flow	631	-1,454	-200
Free cash flow margin	2.6%	-6.5%	-0.9%
Cash from investing	-2,082	5,711	-2,229
Cash from financing	-1,485	-7,028	-387
Depreciation and amortisation	596	573	460	+4.0%	+29.6%
Share-based compensation	103	161	119	-36.0%	-13.4%
Dividends paid	86.0	86.0	86.0	0.0%	0.0%
Diluted shares, weighted	791m	788m	757m	+0.3%	+4.5%
Shares outstanding at period end	790m	788m	756m	+0.3%	+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

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	6,100	5,987	-3,295	+1.9%
Non-controlling interest	15.0	n/a	-1.0
Debt	45,900	47,209	53,143	-2.8%	-13.6%
Other liabilities	113,855	111,591	105,273	+2.0%	+8.2%
Total liabilities and equity	165,870	164,787	155,120	+0.7%	+6.9%
Fixed assets	16,321	15,763	11,658	+3.5%	+40.0%
Goodwill	17,554	17,633	7,280	-0.4%	+141.1%
Intangible assets	1,531	1,517	1,542	+0.9%	-0.7%
Investments	13,900	12,512	16,916	+11.1%	-17.8%
Cash and equivalents	7,239	9,441	7,087	-23.3%	+2.1%
Receivables	3,515	3,485	3,190	+0.9%	+10.2%
Other assets	105,810	104,436	107,447	+1.3%	-1.5%
Total assets	165,870	164,787	155,120	+0.7%	+6.9%

Questions

What was Boeing's revenue in Q2 FY2026?

Boeing (BA) reported revenue of $24.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 8.0% on the same quarter a year earlier.

How much did Boeing earn in Q2 FY2026?

Net loss for Q2 FY2026 was $444 million, and the diluted loss per share $0.67.

When did Boeing report Q2 FY2026 results?

Boeing filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 28 July 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	14,793	13,991	16,681	15,956	19,980	17,921	19,751	18,104	22,018	16,569	16,866	17,840	15,242	19,496	22,749	23,270	23,948	22,217	24,560	24,188
Cost of revenue	17,307	13,645	14,559	16,778	18,124	15,998	17,812	16,939	19,321	14,693	15,637	21,347	16,831	17,079	20,314	25,645	22,136	19,671	22,146	22,021
Gross profit	-2,514	353	2,128	-815	1,856	1,923	1,939	1,165	2,697	1,876	1,229	-3,507	-1,589	2,417	2,435	-2,375	1,812	2,546	2,414	2,167
Gross margin	-17%	3%	13%	-5%	9%	11%	10%	6%	12%	11%	7%	-20%	-10%	12%	11%	-10%	8%	11%	10%	9%
R&D	678	633	698	727	794	741	797	958	881	868	954	1,154	836	844	910	897	964	903	921	830
Operating income	-4,171	-1,162	780	-2,792	-353	-149	-99.0	-808	283	-86.0	-1,090	-5,761	-3,770	461	-176	-4,781	8,777	448	156	354
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	-1,618	377	-3,132	-649	-496	-400	-1,100	-9.0	-378	-1,515	-6,224	-4,093	76.0	-561	-5,199	8,319	26.0	-365	-123
Tax rate	n/a	n/a	58%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	141%	n/a	n/a	1%	127%	n/a	n/a
Net income	-4,143	-1,219	193	-3,275	-634	-414	-149	-1,636	-23.0	-343	-1,439	-6,170	-3,865	-37.0	-611	-5,337	8,220	-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 flow	716	-3,216	81.0	3,190	3,457	-318	2,875	22.0	3,381	-3,362	-3,923	-1,345	-3,450	-1,616	227	1,123	1,331	-179	1,364	1,496
Capital expenditure	222	349	263	284	326	468	296	332	431	567	404	611	648	674	427	885	956	1,275	733	1,032
Free cash flow	494	-3,565	-182	2,906	3,131	-786	2,579	-310	2,950	-3,929	-4,327	-1,956	-4,098	-2,290	-200	238	375	-1,454	631	464
Dividends paid	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	72.0	86.0	86.0	87.0	86.0	86.0	86.0
Shares outstanding	1,012m	592m	594m	596m	1,012m	602m	603m	605m	1,012m	614m	616m	618m	1,012m	754m	756m	760m	1,012m	788m	790m	792m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 30 June 2026, filed 28 July 2026: the filing.