Boeing reported its first-quarter 2026 financial results on April 22, 2026, indicating a gradual improvement in its financial condition. The company's quarterly revenue increased by 14% year-over-year to $22.22 billion, while its net loss narrowed significantly to $7 million, significantly better than the market expectation of a loss of $0.83 per share.
Following the earnings release, Chief Executive Officer Kelly Ortberg stated that the company is "all systems are go" and plans to increase the monthly production rate of its core 737 MAX model from 42 to 47 aircraft this summer. This production hike is a key measure for Boeing to reverse years of losses and is currently pending final approval from the U.S. Federal Aviation Administration (FAA).
The financial report showed that Boeing delivered a total of 143 commercial aircraft in the first quarter, a 10% increase year-over-year, marking the best first-quarter delivery record since 2019. The strong delivery performance propelled the company's total backlog to a record $695 billion.
Although revenue from the commercial airplane division grew by 13% to $9.2 billion, it still recorded an operating loss of $563 million. However, the company's overall operating cash flow improved significantly, narrowing from negative $1.616 billion in the same period last year to negative $179 million.
Ortberg mentioned that customer feedback on aircraft quality has been "very good," and the company is working hard to rebuild trust. He also reiterated that the 737 MAX 7 and MAX 10 models are expected to receive certification later this year, with deliveries scheduled to begin in 2027.
Additionally, Boeing's defense business performed strongly, with first-quarter revenue up 21% year-over-year and operating profit surging by 50%, partly benefiting from the success of the Artemis II lunar mission.
Although Boeing has not yet fully returned to profitability, its recovery path is becoming increasingly clear. The company anticipates achieving free cash flow of $1 billion to $3 billion in 2026 and has set a target for its commercial airplane business to achieve a positive profit margin by 2027.