On April 23, 2025, The Boeing Company announced its financial results for the first quarter of 2025. The report indicates a revenue increase to $19.5 billion, influenced by 130 commercial deliveries. Boeing reported a GAAP loss per share of ($0.16) and a core loss per share of ($0.49). Operating cash flow was negative at ($1.6) billion, with free cash flow at ($2.3) billion. The total company backlog rose to $545 billion, including over 5,600 commercial airplanes.
Boeing's president and CEO, Kelly Ortberg, commented on the results, stating, "Our company is moving in the right direction as we start to see improved operational performance across our businesses from our ongoing focus on safety and quality." He added, "We continue to execute our plan, are seeing early positive results and remain committed to making the fundamental changes needed to fully recover the company's performance while navigating the current environment."
The company's operating cash flow reflected higher commercial deliveries and working capital timing. Cash and investments in marketable securities totaled $23.7 billion, compared to $26.3 billion at the start of the quarter. Boeing's debt slightly reduced to $53.6 billion, maintaining access to undrawn credit facilities of $10.0 billion.
In the Commercial Airplanes segment, revenue reached $8.1 billion with an operating margin of (6.6) percent. The 737 production gradually increased, with plans to produce 38 aircraft monthly within the year. In contrast, the 777X program began expanded FAA certification, expecting first delivery in 2026.
Defense, Space & Security reported revenue of $6.3 billion with a 2.5 percent operating margin. During this quarter, Boeing was selected by the U.S. Air Force to design, build, and deliver the F-47 fighter aircraft, though the order was not included in the backlog pending evaluation review.
Global Services reported revenue of $5.1 billion with an 18.6 percent operating margin. Boeing delivered the 100th 767-300 Boeing Converted Freighter to SF Airlines and entered a modification contract with the U.S. Air Force.
The report also detailed Boeing's use of non-GAAP financial measures to provide additional insights into its ongoing business performance. These measures are presented alongside GAAP measures for investor review.
Furthermore, Boeing issued a caution concerning forward-looking statements, noting the potential risks and uncertainties associated with future projections and business conditions.