Boeing has reported its second-quarter financial results, reporting total revenue of US$22.7 billion, including US$10.9 billion from its Commercial Airplanes division, primarily driven by increased aircraft deliveries. The operating margin for the division was recorded at (5.1) percent.
The company increased production of its 737 programme to 38 aircraft per month and plans to stabilise at that rate before seeking approval to increase output to 42 per month later in the year. Production of the 787 programme has now reached seven aircraft per month.
Boeing booked 455 net aircraft orders in the quarter, including significant deals such as 120 787 and 30 777-9 aircraft for Qatar Airways, as well as 32 787-10 aircraft for British Airways. A total of 150 aircraft were delivered during the quarter, contributing to a backlog of over 5,900 aircraft valued at US$522 billion.
In its Defence, Space & Security division, Boeing secured a U.S. Air Force contract to build four T-7A Red Hawk production representative aircraft and began ground testing on the first MQ-25 Stingray for the U.S. Navy. This division’s backlog grew to US$74 billion, with 22 percent of orders coming from international customers.
Operating cash flow for the quarter was US$0.2 billion, supported by higher commercial deliveries and favourable working capital timing. The company held US$23.0 billion in cash and marketable securities, down from US$23.7 billion at the start of the quarter, mainly due to debt repayments and free cash flow usage. Total debt decreased slightly to US$53.3 billion, while Boeing retained access to US$10.0 billion in undrawn credit facilities.
Overall, Boeing closed the quarter with a company-wide backlog of US$619 billion, reflecting ongoing strong demand across both commercial and defence markets.
