Boeing narrows losses, highlights progress in turnaround process

Boeing on Wednesday reported a net loss of $90 million in the first quarter of 2026, an improvement from a loss of $123 million posted in the same period a year earlier.

Although the result is still negative, the U.S.-based aerospace giant presented the figures as a sign of progress in its recovery process after years of operational and reputational challenges.

Total revenue for the quarter reached $22.2 billion, up 14% from the first quarter of the previous year.

The growth was driven primarily by a rebound in commercial airplane deliveries, as well as greater contributions from the global services and defense, space and security divisions, where Boeing secured new agreements with the Pentagon.

Boeing shares rose following the release of the results, which according to AFP beat analysts' forecasts. In addition, the figures did not include unexpected cost overruns or other negative one-time charges that had weighed down earnings in several previous quarters.

Moreover, the company's backlog reached a record $695 billion, reflecting sustained strong demand from its customers worldwide.

Focus on quality and safety under Kelly Ortberg

Since Kelly Ortberg took over as CEO in 2024, Boeing has placed an emphasis on restoring credibility with regulators and customers. Ortberg has pushed for a tighter focus on day-to-day operations, quality and safety, seeking to overcome the fallout from the two fatal 737 MAX accidents in 2018 and 2019, as well as other subsequent problems.

Speaking to CNBC, Ortberg was upbeat about the current state of production:

"All of our key metrics look good. ... The production system is very stable, and we're hearing very good things about the quality of the airplanes from our customers."

Production increase and certification progress

The company has already increased the production rate of the 737 MAX from 38 to 42 airplanes per month, an increase that has gone smoothly. Boeing expects the next step, up to 47 airplanes per month, to be similarly manageable. The company faces a similar situation with the 787 Dreamliner, as it seeks FAA approval to increase production of both models.

Boeing is also moving forward with certification of new variants of the 737 MAX and 777X, a program marked by delays. However, the company maintains its forecasts: it expects to certify new versions of the 737 MAX this year and begin deliveries of the 777X in 2027. Ortberg ratified these timelines and said he is "very pleased" with the progress of the certifications.