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Boeing designs, builds, and supports large airplanes for commercial, defense, and space use. Its main products are commercial airliners, military aircraft, and space systems, created through integrated engineering and manufacturing across aircraft frames, propulsion, avionics, and services. The company differentiates itself by its scale, a long history of military and space programs, and an end-to-end portfolio that covers civil aviation, defense, and space missions, which helps it serve both airline customers and government customers worldwide. Its goal is to provide reliable, safe, and efficient aerospace solutions while navigating safety, quality, and production challenges, maintain leadership in large-aircraft manufacturing, and rebuild trust for future growth.
Company Size
10,001+
Company Stage
IPO
Headquarters
Arlington, Virginia
Founded
1916
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Boeing has uncovered hundreds of millions of dollars in additional liabilities at Spirit AeroSystems following its $8.4 billion acquisition of the fuselage supplier in December 2025. Spirit's assumed liabilities now exceed identifiable assets by roughly $1.9 billion, including $1.52 billion tied to below-market customer contracts. Boeing repurchased Spirit's factories after selling them in 2005, reversing an outsourcing strategy following safety failures including two fatal 737 MAX crashes and the 2024 Alaska Airlines door-plug incident. Despite these challenges, Boeing reported operational improvements in the second quarter, with revenue rising 8% to $24.56 billion and free cash flow turning positive at $631 million. The company reduced fuselage defects by 45% through new inspections at Spirit's Wichita facility. Boeing maintains a $715 billion backlog and targets $10 billion in annual free cash flow long-term.
Jim Cramer believes Boeing is poised to rise, arguing that oil prices may be peaking. He noted an inverse relationship between crude oil and Boeing's stock, saying the shares gained $5 when crude fell recently. Boeing's second-quarter revenue increased 8% year over year to $24.6 billion, with operating cash flow reaching $1.4 billion. The company's backlog hit a record $715 billion, including over 6,200 commercial aircraft. However, Boeing's Commercial Airplanes division posted a $322 million operating loss despite delivering 171 aircraft. The company reported a $428 million GAAP net loss and ended June with $45.9 billion in consolidated debt against $20 billion in cash and marketable securities. The 737-7 and 737-10 variants completed flight testing, with deliveries expected to begin in 2027.
Boeing's shares climbed above $200 despite delivering 51 aircraft in August, a 10.5% drop from the previous year. The company's year-to-date deliveries remain its strongest since 2018. Boeing reported $24.5 billion in second-quarter revenue, up 8% year-on-year. Adjusted free cash flow turned positive at $631 million, compared to negative $200 million in the prior year's second quarter. The aerospace manufacturer holds a $715 billion backlog with over 6,200 commercial aircraft in its pipeline. Chief executive officer Kelly Ortberg is focusing on rebuilding trust with customers, regulators, and suppliers. Despite the positive momentum, Boeing's stock remains down more than 5% year to date. The company faces ongoing challenges in delivering aircraft on time whilst managing capital expenditures.
Boeing stock trades near $206, down 11.3% over the past month and 10.6% over the past year, whilst the S&P 500 returned 18.5%. The decline comes despite no recent negative earnings reports or major setbacks. Boeing's commercial airplane unit delivered 171 airplanes in Q2 2026, its highest quarterly total since 2018. Revenue over the trailing twelve months reached $94.0 billion, up 24.8%. However, the company still posts a twelve-month operating loss, with operating margin at -5.4%. Analysis of 15 market shocks since 2007 shows Boeing fell an average of 24% from peak to trough, versus 16% for the S&P 500. The deepest drop was 72% during the 2020 COVID-19 crash. More than six years later, Boeing remains approximately 39% below its pre-crash high.
Boeing shares trade at $208.87, down 12% over the past year, as the company continues to lose money building aeroplanes. However, the rate of loss is shrinking rapidly. Operating margin improved to negative 5.4% over the past twelve months, up from negative 12.4% a year earlier. The second quarter of 2026 turned positive at 0.6%. Boeing delivered 171 aeroplanes in that quarter, its highest total since 2018. The commercial aeroplane unit showed a negative 2.7% operating margin in Q2 2026. Programme cash margins on the 737 and 787 run slightly above breakeven, with management attributing this to pricing drags that dissipate as deliveries continue. Management expects to ramp 737 production to 52 aeroplanes per month, with no supply-chain constraints anticipated. The Air Force One programme took a $280 million charge in Q2 2026.