Boeing reported a $5.4 billion third-quarter loss Wednesday after taking a $4.9 billion charge tied to yet another delay in certification of its 777X aircraft, now scheduled for first delivery in 2027. The widebody, first flown in 2020, has faced repeated certification setbacks with the Federal Aviation Administration, extending one of Boeing’s most complex development programs. Despite the charge, Boeing’s revenue rose 30 percent to $23.3 billion on higher aircraft deliveries, and the company generated positive cash flow for the first time since 2023.
Chief Executive Kelly Ortberg said the delay was driven by slower FAA authorizations for flight testing rather than technical issues.
“While we are disappointed in the 777X schedule delay, the airplane continues to perform well in flight testing, and we remain focused on the work ahead to complete our development programs,” Ortberg said in a company statement.
He added that Boeing and the FAA have agreed to increase 737 production from 38 to 42 aircraft per month.
Boeing delivered 160 commercial airplanes in the quarter, its highest total since 2018, and recorded $1.1 billion in operating cash flow as customer payments for delivered jets outpaced expenses—a contrast to the accounting loss driven by the 777X charge. Commercial airplane revenue rose 49 percent to $11.1 billion, while defense and space operations earned $6.9 billion, up 25 percent. Boeing’s total backlog grew to $636 billion, including more than 5,900 aircraft. Shares fell about 4 percent in early trading, AFP noted.
Ortberg said Boeing will continue working to “fully recover our company’s performance and restore trust with all of our stakeholders” as it moves toward certifying the 777X and stabilizing production across its lines.
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