Boeing Reports Smaller-Than-Expected Q1 Cash Burn and Increased Deliveries

Boeing reported first-quarter 2026 results with revenue of $22.22 billion, exceeding the FactSet consensus estimate of $21.85 billion. The company posted a free cash flow outflow of $1.454 billion, which was better than the consensus estimate of $2.340 billion and an internal estimate of $2.800 billion.

Boeing also reduced its debt by $7 billion during the period. The company delivered more aircraft than in any quarter since 2019 and outdelivered Airbus for the first time in years.

Ortberg stated in a message to employees that the company is making strides to strengthen its culture and restore trust with customers while growing its record backlog to nearly $700 billion. The company reiterated its 2026 free cash flow guidance.

shares rose as much as 5% in early trading but were up about 4% by noon. Year-to-date, the stock has increased by approximately 5.2%. Goldman analyst Noah Poponak described the results as showing improvements, including revenue and free cash flow above consensus, improving defense margins, and progress in commercial aircraft production rates.

Poponak maintained a 12-month price target of $276 for Boeing shares. The stock has remained in a six-year low following the two fatal 737 Max crashes that limited production. A break above $250 could represent a technical milestone.

“We're making strides to strengthen our culture and restore trust with our customers while growing our record backlog to nearly $700 billion.”