Boeing. Photo: Ian Dewar Photography / Shutterstock.com Boeing has today, July 28, 20206, posted its second-quarter results for 2026, signaling continued progress in its turnaround efforts as commercial aircraft deliveries increased and the aerospace giant generated positive free cash flow for the quarter.
The company reported revenue of $24.56 billion for the second quarter, up 8% from Q2 2025, alongside a GAAP loss per share of $0.67 and a core loss per share of $0.76. Operating cash flow reached $1.4 billion, while free cash flow turned positive at $631 million, a significant improvement from the negative $200 million reported during the same period last year.
Boeing's total backlog climbed to a record $715 billion at the end of the quarter, underscoring strong long-term demand across its commercial, defense, and services businesses.
"I'm very pleased with the progress our team is making as we execute our plan," said Boeing President and CEO Kelly Ortberg. "Our operations are more stable and key certification programs remain on plan."
Commercial Airplanes remained the company's largest business segment, generating $11.8 billion in revenue, up 8% year-over-year. Boeing delivered 171 aircraft during the quarter, including continued production increases for the popular 737 family.
The manufacturer said it began transitioning 737 production to a rate of 47 aircraft per month and completed certification flight testing for both the 737-7 and 737-10 variants. Boeing continues to expect certification for both aircraft later in 2026, with first deliveries anticipated in 2027.
The long-delayed 777X program also achieved an important milestone after receiving approval from the Federal Aviation Administration (FAA) to begin certification flight testing. Boeing still expects the first 777X delivery in 2027.
Commercial orders remained robust, with Boeing securing 246 net orders during the quarter from customers including Korean Air, Delta Air Lines, and SMBC Capital. The division ended the quarter with a backlog of more than 6,200 aircraft valued at a record $597 billion.
Meanwhile, Boeing's Defense, Space & Security unit generated revenue of $7.5 billion, up 13% year-over-year, despite posting a small operating loss. The segment was impacted by additional costs tied to the VC-25B presidential aircraft program, commonly known as the future Air Force One fleet.
Boeing's Global Services business reported $5.3 billion in revenue, up 1% from Q2 2025, and maintained healthy operating margins of 18.1%.
Despite continued losses, Boeing's financial position improved during the quarter. Consolidated debt declined to $45.9 billion from $47.2 billion in the previous quarter, while the company retained $20 billion in cash and marketable securities.
As Boeing continues rebuilding trust following years of production challenges and certification delays, the latest results suggest the company is steadily moving toward a more stable operational footing, with key aircraft programs and delivery targets remaining on track.