The Boeing Company (BA)
Coverage summary
Aardvark Labs Capital Research has covered The Boeing Company (BA) since July 30, 2025. The company is in the Industrials sector. This page lists 6 reports: 6 earnings recaps.
The latest is the Q3 2026 Earnings Recap, published October 28, 2026. The current rating is Outperform, unchanged since the Q4 2025 Earnings Recap of January 28, 2026. The rating has changed once since coverage began.
Translations: 5 in Chinese.
Rating history
All BA reports
Recap: Q3 2026
The Plan Gets Dates and Loses a Year: $10B of Free Cash Flow Pinned to 2029, 2027 Set at $3B, 737 Stability Slips into 2027; F/A-XX and a Settled Engineers' Contract Offset. Maintaining Outperform, Fair Value Cut to $225–$265
Recap: Q2 2026
Cash Comes In Early: FCF +$631M Against a Guided Outflow, 171 Deliveries the Most Since 2018, Record $715B Backlog; the VC-25B Charge Ends the Held-EAC Streak. Maintaining Outperform, Fair Value Trimmed to $250–$290
Recap: Q1 2026
Clean Quarter, Revenue $22.2B (+14%), 143 Deliveries, 737 Stable at 42/Mo, BDS Op Margin 3.1% (Fifth Quarter Held EACs), Record $576B BCA Backlog, FY26 FCF Guide $1–$3B Reiterated — Maintaining Outperform
Recap: Q4 2025
FY25 600 Commercial Deliveries (Highest Since 2018), Record $567B Backlog, Spirit + Jeppesen Closed, FY26 FCF Guide +$1–$3B Positive, $10B Long-Term Target "Very Attainable" — Upgrading to Outperform
Recap: Q3 2025
First Positive Free Cash Flow Since Q4 2023 (+$238M); 737 Rate Approved at 42/Mo by FAA; FAA Restores Limited Airworthiness Delegation; but $4.9B 777X Charge as First Delivery Slips to 2027 — Maintaining Hold
Recap: Q2 2025
Revenue $22.7B (+35%), 150 Commercial Deliveries (Best H1 Since 2018), 737 Reaches 38/Mo, FCF Use of Just $0.2B Beats Expectations; FY FCF Now Tracking ~$3B Usage — Initiating at Hold