Boeing met Wall Street's revenue expectations in the third quarter of 2026, with sales up 3.9% year on year to $24.19 billion. Its adjusted loss of $0.34 per share was well below the expected loss of $0.20. Operating margin rose to 1.5% from -20.5% a year earlier. Backlog reached a record $745.4 billion, up 17.3%, helped by defence wins including the US Navy's FA-XX fighter and a PAC-3 expansion. Chief executive officer Robert Ortberg said 737 production remains unstable, with wing manufacturing and fuselage supply causing delays. Boeing expects stable output of 47 jets a month next year and aims for 52 by late 2027. The company projects free cash flow of $2 billion in 2026. Shares trade at $167.96, down from $188.32 before the results.

StockStory has picked three large-cap stocks it says have solid fundamentals: Boeing, Trane Technologies, and Vertex Pharmaceuticals. Boeing (market cap $136.8 billion) is part of a duopoly in commercial aircraft. Unit sales grew 51.8% on average over two years, and earnings per share rose 60.5% annually. Its shares trade at $170.95, or 209.5x forward P/E. Trane Technologies ($94.85 billion) grew revenue 11.1% annually over five years, with earnings per share up 20.5% a year. Its shares trade at $434.31, or 26.1x forward P/E. Vertex Pharmaceuticals ($136.9 billion) posted 13.5% annual sales growth over five years and a return on invested capital of 29.5%. Its shares trade at $552.80, or 27.5x forward P/E.

Boeing shares fell 10.69% to $168.18 on Tuesday after the company said it would miss delivery targets because production rates are improving more slowly than hoped. Trading volume hit 46.8 million shares, about 588% above the three-month average of 6.8 million. Third-quarter revenue of $24.2 billion missed analysts' estimates of $23.8 billion. The adjusted loss per share of $0.34 was wider than the $0.25 forecast. Boeing will not reach its goal of delivering 500 737 Max jets this year. Slower production growth will also delay its path to profitability. The results dampen recent good news. The Federal Aviation Administration approved the 737-10 Max earlier this month, and in September Boeing won a US Navy fighter jet contract.