The Boeing Company (BA) Stock: Falls After Q3 2025 Earnings Miss and 777X Charge

TLDR

• Boeing stock dropped 2.4% to $217.97 after Q3 2025 earnings miss.
• Reported $23.27 billion in revenue, up 30% YoY, beating expectations.
• Posted $7.47 adjusted loss per share due to $4.9B 777X charge.
• Generated positive free cash flow of $238 million for the first time since 2023.
• CEO Kelly Ortberg emphasized steady progress in safety, quality, and production.

The Boeing Company (NYSE: BA) traded at $217.97 as of October 29, 2025, down 2.4% after posting mixed third-quarter results.

The Boeing Company, BA

While revenue beat analyst expectations, earnings were hit by a hefty $4.9 billion charge tied to its delayed 777X aircraft program.

Revenue Surge Offsets Ongoing Challenges

For Q3 2025, Boeing reported revenue of $23.27 billion, surpassing estimates of $21.97 billion and marking a 30% increase from $17.84 billion a year earlier. The growth was fueled by higher commercial jet deliveries and improved performance across all business segments.

The company reported an adjusted loss per share of $7.47, missing the $4.59 loss expected by analysts. The steep loss was driven by a noncash charge related to 777X certification delays, with first deliveries now expected in 2027.

Improving Cash Flow and Operational Milestones

Despite the large charge, Boeing showed encouraging signs of operational recovery. Adjusted free cash flow improved to negative $238 million from negative $884 million expected, while operating cash flow rose to $1.12 billion, compared to estimates of negative $197 million.

The company’s commercial aircraft deliveries totaled 160 jets during the quarter, up from 116 a year ago. Deliveries included 121 737 Max jets, 24 787s, nine 777s, and six 767s. Boeing is now producing 38 737 Max planes monthly, with plans to increase the rate to 42 per month following FAA approval.

CEO Kelly Ortberg, who took over in August 2024, said, “With a sustained focus on safety and quality, we achieved important milestones in our recovery as we generated positive free cash flow in the quarter.”

Production and Certification Outlook

Boeing’s 737 Max 7 and Max 9 models are expected to receive certification in 2026, while the 777X remains delayed. Ortberg reiterated that the team knows “what hardware and software changes are needed” and continues to work closely with regulators.

In its defense segment, revenue rose 25% year-over-year to $6.9 billion, with a 1.7% operating margin, while Global Services revenue grew 10% to $5.4 billion. The commercial unit posted a 49% increase to $11.09 billion but still reported negative margins.

Labor Challenges and Market Outlook

Boeing’s defense division remains under pressure as roughly 3,200 unionized workers at its St. Louis plant continue a strike over contract terms. Despite labor headwinds, Boeing secured new orders in Q3 from major carriers including Turkish Airlines, Norwegian Group, WestJet, and Korean Air.

While still facing certification and supply chain hurdles, Boeing is on track for its highest aircraft deliveries since 2018, signaling progress toward financial stabilization.

Boeing’s third-quarter results reflect a company gradually regaining its footing, balancing operational improvement with ongoing challenges in production, certification, and labor relations.

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