ARLINGTON, Va. -- The Boeing Company recorded first-quarter revenue of $22.2 billion, representing a 14 percent increase compared to the same period in the prior year. This growth was driven primarily by a higher volume of commercial aircraft deliveries and improved operational performance across its primary segments. Despite the revenue gains, the company reported a net loss of $7 million for the quarter, an improvement over the $31 million net loss recorded in the first quarter of 2025.
"We're building on our momentum with a strong start to the year and growing record-breaking backlog across our business, while supporting our customers with inspiring missions like Artemis II," said Kelly Ortberg, Boeing president and chief executive officer. "With a continued focus on safety and quality, we're delivering high-quality commercial and defense products and services, while increasing production to uphold our customer commitments and get back to the iconic global aerospace company that leads our industry."
Total company backlog reached a record $695 billion during the quarter, supported by strong order intake across all three business segments.
INDUSTRY SEGMENTS
Commercial Airplanes
Revenue for the Commercial Airplanes segment rose 13 percent to $9.2 billion, supported by the delivery of 143 aircraft during the quarter. Production on the 737 program has maintained a consistent rate of 42 units per month, while the 787 program has stabilized at eight units per month. Growth in this segment is increasingly tied to the ramp-up of the 787 and the eventual integration of the 737-7 and 737-10 variants, which are expected to secure certification in 2026.
For the quarter, the segment reported an operating loss of $563 million. This performance reflects the ongoing costs associated with production stabilization and the maturation of new programs. While margins showed a slight year-over-year improvement from negative 6.6 percent, profitability continues to be impacted by the high fixed-price nature of initial production blocks and the R&D requirements for the 777X and 737 MAX certification efforts.
Defense, Space & Security
Defense, Space & Security revenue increased by 21 percent to $7.6 billion, fueled by higher volume in fighter and satellite programs. Key program milestones included the successful launch of the USSF-12 mission and progress on the Artemis II lunar mission. The segment also signed a seven-year framework agreement to expand PAC-3 Seeker production and announced a strategic partnership with Rheinmetall to offer the MQ-28 Ghost Bat to Germany.
Operating income for the segment rose to $233 million. This improvement is attributed to better execution on fixed-price development contracts and a more favorable program mix. However, the segment remains exposed to inflationary pressures and supply chain constraints that affect EAC (Estimate at Completion) adjustments on mature production lines. Performance in this segment is expected to stabilize as production rates on the T-7A Red Hawk and MQ-25 Stingray progress toward full-rate production.
Global Services
The Global Services segment reported revenue of $5.4 billion, a 7 percent increase year-over-year. Growth was led by higher commercial parts and distribution volume as global flight hours continue to rise. The segment remains a consistent driver of cash flow, benefiting from a balanced mix of government and commercial long-term sustainment contracts.
Profitability in Global Services remained robust, with operating income of $941 million. These results reflect a stable contract mix and the high-margin nature of proprietary parts and digital solutions. The segment’s performance demonstrates a high degree of programmatic maturity and serves as a financial hedge against the more volatile production cycles found in the commercial and defense hardware segments.
The first quarter results indicate that Boeing is successfully transitioning from a period of recovery to one of production stabilization. The record backlog and steady demand for widebody aircraft suggest a stable medium-term revenue outlook. However, the company’s ability to return to consistent profitability will depend on meeting 2026 certification timelines and managing the execution risks inherent in its fixed-price defense portfolio.
