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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Doug Harned | Bernstein | 8 questions · 25% challenging |
| Noah Poponak | Goldman Sachs | 8 questions · 50% challenging |
| Ron Epstein | Bank of America | 7 questions · 29% challenging |
| Peter Arment | Robert W. Baird | 7 questions · 0% challenging |
| Seth Seifman | JPMorgan | 7 questions · 0% challenging |
| Myles Walton | Wolfe Research | 7 questions · 14% challenging |
| Sheila Kahyaoglu | Jefferies | 7 questions · 14% challenging |
| David Strauss | Wells Fargo | 6 questions · 0% challenging |
| Scott Deuschle | Deutsche Bank | 4 questions · 0% challenging |
| Rob Stallard | Vertical Research Partners | 4 questions · 50% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 analyst | 8 questions · 50% challenging |
| Bernstein | 1 analyst | 8 questions · 25% challenging |
| Bank of America | 1 analyst | 7 questions · 29% challenging |
| Jefferies | 1 analyst | 7 questions · 14% challenging |
| JPMorgan | 1 analyst | 7 questions · 0% challenging |
| Robert W. Baird | 1 analyst | 7 questions · 0% challenging |
| Wolfe Research | 1 analyst | 7 questions · 14% challenging |
| Wells Fargo | 1 analyst | 6 questions · 0% challenging |
Boeing delivered a strong Q1 2025 recovery with 130 aircraft deliveries as 737 production restarted successfully. The F-47 sixth-generation fighter win was a landmark defense achievement, though China tariff retaliation threatened approximately 50 deliveries. BDS showed operational improvement with EAC stability, the 787 shadow factory was closed with rate increases imminent, and the Jeppesen divestiture strengthened the balance sheet.
Margin | Capital Allocation | Supply Chain | Demand | Competitive Dynamics | Cost Pressure | Revenue Growth | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 4 | 5 | 3 | 2 | 4 | 1 | |
| 2025Q1 | 3 | 3 | 4 | 2 | 3 | 1 | 1 | |
| 2025Q2 | 4 | 2 | 2 | 3 | 3 | 2 | 2 | |
| 2025Q3 | 2 | 5 | 4 | 3 | 2 | 2 | 2 | |
| 2025Q4 | 6 | 3 | 1 | 2 | 3 | 2 | 1 | |
| 2026Q1 | 3 | 3 | 3 | 3 | 1 | 5 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 5 | 3 | 4 | 2 | 6 | 3 |
| Capital Allocation | 4 | 3 | 2 | 5 | 3 | 3 |
| Supply Chain | 5 | 4 | 2 | 4 | 1 | 3 |
| Demand | 3 | 2 | 3 | 3 | 2 | 3 |
| Competitive Dynamics | 2 | 3 | 3 | 2 | 3 | |
| Cost Pressure | 4 | 1 | 2 | 2 | 1 | |
| Revenue Growth | 1 | 2 | 1 | 5 | ||
| Innovation & R&D | 1 | 2 | 2 | 1 |
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Calendar quarter Q1 2025Earnings call Apr 23, 2025
FY2025 Q1 in brief
Boeing delivered a strong Q1 2025 recovery with 130 aircraft deliveries as 737 production restarted successfully.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for The Boeing Company (BA), FY2025 Q1: 8/10. Scores: The Boeing Company’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: BA daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $15.24B | -30.8% | $-5.45 | -14356.2% | -10.4% | -25.1% | -25.4% | $-4.10B |
| FY2025 Q1Selected | $19.50B | +17.7% | $-0.16 | +71.4% | 12.4% | 2.4% | -0.2% | $-2.29B |
| FY2025 Q2 | $22.75B | +34.9% | $-0.92 | +60.5% | 10.7% | -1.2% | -2.7% | $-200M |
| FY2025 Q3 | $23.27B | +30.4% | $-7.14 | +28.4% | -10.2% | -20.6% | -22.9% | $1.80B |
| FY2025 Q4 | $23.95B | +57.1% | $10.23 | +287.7% | 7.6% | -3.4% | 34.3% | $-1.18B |
| FY2026 Q1 | $22.22B | +14.0% | $-0.11 | +31.3% | 11.5% | 2.0% | -0.0% | $-1.45B |
| FY2026 Q2 | $24.56B | +8.0% | $-0.67 | +27.2% | 9.8% | 0.6% | -1.8% | $2.64B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What BA and other companies said about each other on FY2025 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we recently reached agreements to purchase eight new Boeing 777 freighter aircraft and two used 777 freighters, which will be phased in during calendar years '26 and '27.”
FedEx is buying additional 777 freighters from Boeing at attractive prices as part of its fleet renewal strategy, a material capex commitment to its aircraft supplier.
“There's been some talk in the press that you were interested in purchasing Jeppesen from Boeing and obviously didn't. So I was wondering if you could comment on that situation?”
TransDigm was a serious bidder for Boeing's Jeppesen navigation-data unit but ultimately passed, with CEO Kevin Stein citing valuation discipline; the episode signals Boeing was open to divesting the asset but didn't reach terms TransDigm considered accretive.
GAAP revenue YoY +17.7% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
“Boeing aircraft production rates are still well below pre-pandemic levels, though, and the nearly two-month-long machinist strike last fall further delayed the recovery. However, there has been steady progress in Boeing's production rates, which is a positive sign.”
TransDigm's commercial OEM revenue channel depends on Boeing's aircraft build rate; management flags steady sequential progress in that build rate as a positive signal for OEM recovery, even though rates remain below pre-pandemic levels.
“I'm way I've been way more frustrated that Boeing didn't get us all of our 787s than if they didn't get us all of our 737s.”
CEO Scott Kirby expresses frustration over Boeing widebody (787) delivery delays, which matter more to United's international growth strategy than narrowbody (737) delays.
“We're Boeing's second-largest customer behind only the US government.”
United frames its scale as an aircraft buyer, noting it is Boeing's second-largest customer after the US government, while downplaying tariff exposure to its Boeing-heavy order book.
“Some of it was our government-funded investment in R&D for NGAD. Right? Just a competitive process. Was funded for both Lockheed Martin Corporation and Boeing over a period of years by the government.”
Boeing was the other competitor in the government-funded NGAD fighter program development that Lockheed is now applying to its F-35 upgrades.
“On 787, we've done, I think, a very good job in working and partnering with Boeing on heat exchangers. I feel like that is now up to where it needs to be on 787, and we're going to continue to keep a close eye on that as Boeing continues to ramp.”
RTX (via Collins) supplies heat exchangers to Boeing's 787 program and says the supply issue is now resolved, supporting Boeing's production ramp.
“we are increasingly optimistic about what we are seeing at Boeing and their ability to deliver”
Southwest is growing more confident in Boeing's aircraft delivery execution even as it holds its 38 MAX 8 delivery assumption unchanged for the year.
“Korean Air announced an agreement for up to 30 Boeing 787-10s and 20 777-9s with our GEnx and GE9X engines underwing.”
GE Aerospace's GEnx and GE9X engines were selected for Korean Air's new Boeing 787-10 and 777-9 orders, reinforcing GE's OEM engine-platform relationship with Boeing widebody aircraft.
“But you saw what Boeing said in their comments that they -- no matter what happens with China, that their backlog remains multiple years.”
PPG cites Boeing's own commentary that its aerospace backlog remains multiple years deep regardless of China trade dynamics, reinforcing PPG's confidence in sustained aerospace coatings demand.
“even though with the current situation, for example, where China is no longer taking Boeing aircraft, then the question is to you, what does that mean? I mean for the industry where it seems like Airbus probably can’t produce many more, but it strengthens their underlying demand, whereas Boeing maybe not so.”
Howmet's CEO notes China has stopped taking Boeing aircraft deliveries amid trade tensions, a negative demand signal for Boeing relative to Airbus, whose backlog remains strong despite its own production constraints.
“Of note is the more optimistic mood around Boeing and the 737 MAX builds.”
Howmet's CEO cites a more optimistic mood around Boeing's 737 MAX build rate, later raising Howmet's narrow-body rate assumption from 25 to 28 per month for the year.
“We'll continue to do business with Jeppesen even post divestiture. It's a great asset.”
Boeing is divesting its Jeppesen digital aviation solutions unit as part of portfolio streamlining, while retaining a commercial relationship and access to what it needs for cockpit and aircraft support systems.
“BGS delivered the 100 767-300 Boeing converted freighter to SF Airlines”
Boeing's BGS unit delivered its 100th 767-300 converted freighter to Chinese cargo carrier SF Airlines, a services milestone.
“50 737-8 airplanes for BOCA”
Aircraft lessor BOC Aviation (BOCA) ordered 50 737-8 airplanes during the quarter.
“777-9s and 2787-10 airplanes for Korean Air”
Korean Air placed new orders for 777-9 and 787-10 aircraft during the quarter, part of Boeing's 221 net orders.
“Spirit continues to improve the quality and flow of fuselages which sets us up well for the reintegration and the deal is expected to close around mid-year”
Boeing's planned reacquisition of Spirit AeroSystems is progressing toward a mid-year close, with Spirit's fuselage quality and flow improving ahead of reintegration.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BA The Boeing Company | 8 | +17.7% | |
| ACHR Archer Aviation Inc. | 5 | n/a | |
| AXON Axon Enterprise Inc. | 8 | +31.3% | |
| GD General Dynamics | 8 | +13.9% | |
| GE GE Aerospace | 8 | +10.9% | |
| HII Huntington Ingalls Industries | 5 | -2.5% | |
| LHX L3Harris | 5 | -1.5% | |
| LMT Lockheed Martin | 7 | +4.5% | |
| LUNR Intuitive Machines, Inc. | 3 | -14.4% | |
| NOC Northrop Grumman | 1 | -6.6% | |
| RKLB Rocket Lab USA, Inc. | 8 | +32.1% | |
| RTX RTX Corporation | 6 | +5.2% | |
| SPCX Space Exploration Technologies Corp. | · | n/a | |
| TDG TransDigm Group | 7 | +12.0% | |
| TXT Textron | 5 | +5.5% |