SEATTLE, Washington — Boeing on Wednesday reported a much smaller first-quarter (Q1) loss than analysts expected, a sign of continued operational recovery at the US planemaker after years of crises that dented its reputation and left it with a mountain of debt.
The company posted a $7-million net loss for the quarter, smaller than a $31-million loss during the same period 12 months ago. The core loss per share of 20 cents was far lower than the 83 cents per share average loss expected by analysts, according to LSEG data.
Boeing shares rose 5 percent in midday trading.
“We’re off to a good start and continue building on our momentum with stronger performance across our business,” CEO Kelly Ortberg said in a memo to employees after the results were released.
A major order from Chinese airlines could come during a meeting in May between United States President Donald Trump and Chinese President Xi Jinping, Ortberg told Reuters, adding that Trump’s support is critical to closing it. The White House did not immediately respond to a request for comment.
‘Long-cycle business’
Ortberg said he does not expect major shocks to Boeing from the Iran war.
“We’ve had no dialogue with any customer about deferral of deliveries” of jetliners, he said. “This is a very long-cycle business. I’d be surprised if we see any major changes coming out of them.”
Instead, customers have asked “that if we do see any slots opening up because of delays, that they’d like to jump in and take those airplanes,” Ortberg said.
Boeing burned through $1.5 billion of cash in the quarter, due largely to expanding capabilities for 787 production in South Carolina and military jet production in the St. Louis area, as well as opening a 737 MAX production line in Everett, Washington.
The company produces around 42 of its best-selling single-aisle jets a month and expects to increase to 47 this summer.
Efforts to certify the 737-7 and -10, the smallest and largest MAX variants, respectively, and the 777X also contributed to the cash burn.
Boeing expects US regulators to certify the MAX 7 and 10 this year, followed by first deliveries in 2027.
Boeing is incorporating design changes in early-build 777X jets in anticipation of the first delivery next year, Chief Financial Officer Jay Malave said during a conference call with analysts.
Strong jet deliveries, defense earnings
Revenue at Boeing’s commercial jet division rose 13 percent to $9.2 billion, buoyed by its highest first-quarter deliveries since 2019, but it still lost $563 million in the quarter.
Higher-than-expected costs from its acquisition in late 2025 of Spirit AeroSystems, which makes 737 fuselages, were a drag on the commercial airplanes division, Ortberg told Reuters.
The higher costs are not due to new production quality issues, which have plagued Spirit AeroSystems, he said.
Boeing is trying to resolve supply chain constraints that could hamper plans to increase 787 production to 10 a month later this year, Ortberg told analysts.
“It’s been a tough quarter in terms of engine deliveries for us,” he said. “They’ve fallen behind a little bit.”
The 737 supply chain will need to increase capacity to get above 52 jets a month, but the company has enough inventory to support its rate increase until then, he said.
