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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Doug Harned | Bernstein | 8 (25%) |
| Noah Poponak | Goldman Sachs | 8 (50%) |
| Ron Epstein | Bank of America | 7 (29%) |
| Peter Arment | Robert W. Baird | 7 (0%) |
| Seth Seifman | JPMorgan | 7 (0%) |
| Myles Walton | Wolfe Research | 7 (14%) |
| Sheila Kahyaoglu | Jefferies | 7 (14%) |
| David Strauss | Wells Fargo | 6 (0%) |
| Scott Deuschle | Deutsche Bank | 4 (0%) |
| Rob Stallard | Vertical Research Partners | 4 (50%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 | 8 (50%) |
| Bernstein | 1 | 8 (25%) |
| Bank of America | 1 | 7 (29%) |
| Jefferies | 1 |
| 7 (14%) |
| JPMorgan | 1 | 7 (0%) |
| Robert W. Baird | 1 | 7 (0%) |
| Wolfe Research | 1 | 7 (14%) |
| Wells Fargo | 1 | 6 (0%) |
Boeing's Q1 FY2026 delivered revenue growth of 14.0% and EPS growth of 31.3% as 737 production stabilized at 42 per month with rate 47 planned for summer. The defense business saw record backlog and rising budgets, while 777X certification advanced with TIA 4a and engine fixes. BCA backlog reached an all-time high of $576 billion, and management outlined a path to $10 billion in free cash flow. The 787 delivery pace was impacted by seat certifications and engines, and FCF guidance of $1-3 billion was reiterated.
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 |
| 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 Q1 | $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 FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“In the commercial OEM market, Boeing and Airbus are continuing to ramp production rates.”
TransDigm reports Boeing is continuing to ramp production rates (a bumpy but improving recovery), supporting TransDigm's commercial OEM demand as a Boeing supplier.
“we are thrilled to be the sole-source partner on the 777X. We have over a thousand engines on order, and customers want the engines, they want the airplanes.”
GE reaffirms it is sole-source engine partner on Boeing's 777X with over a thousand engines on order and strong customer demand.
“we rely on Boeing for seekers”
Boeing supplies seekers for the PAC-3 program and has made a public commitment to the government to invest in and scale its seeker business.
“We're feeling confident about what we're seeing out of Boeing every month. Things seem to just be getting better and better there about their ability to deliver on time.”
Southwest reports improving, more predictable Boeing aircraft deliveries; positive read-through on Boeing's 737 MAX production and delivery cadence.
“We have the rate for the 737 at an average of 42 per month for the year, on the 787 currently 7 per month, rising to 8 per month by the fourth quarter.”
Howmet cites Boeing build rates in its guidance - 737 averaging 42/month and 787 at 7/month rising to 8 by Q4 - as a key demand input.
“We're really pleased with Boeing increasing production rates on the narrowbody. They've been a great partner to us. It is financially advantageous to take the new aircraft, both from a margin and a return on invested capital standpoint.”
A major customer confirms Boeing narrowbody production rates are increasing and intends to keep taking deliveries even in a high-fuel environment — positive read-through on Boeing's ramp.
“We have taken delivery of four high premium Boeing 787-9s with up to 16 more expected to be added in 2026 and a total of 33 planned over the next two years.”
United confirms 787-9 deliveries on schedule with 16 more in 2026 and 33 over two years — steady widebody demand and delivery execution for Boeing.
“Our global services team also signed the largest Landing Gear Exchange contract in Boeing's history with Singapore Airlines”
Singapore Airlines signed Boeing's largest-ever landing gear exchange contract, covering 75+ 737 MAX and 787 aircraft.
“the recent Artemis II launch that carried NASA astronauts to space on the Boeing-built core stage rocket”
Boeing built the SLS core-stage rocket for NASA's Artemis II crewed launch.
“partially offset by the dilutive impact of the Spirit AeroSystems acquisition that we highlighted last quarter”
The Spirit AeroSystems acquisition is currently dilutive to BCA margins and a cash drag as integration proceeds.
“Finally, on 777X, Kelly highlighted TIA 4a approval as well as progress made with GE on a solution for the engine durability issue we highlighted last quarter”
GE, the 777X engine supplier, identified root cause of a durability issue and is finalizing a fix/modification required before delivery.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BA The Boeing Company | 7 | +14.0% | |
| AXON Axon Enterprise Inc. | 10 | +33.8% | |
| GD General Dynamics | 8 | +10.3% | |
| GE GE Aerospace | 7 | +24.7% | |
| HII Huntington Ingalls Industries | 6 | +13.3% | |
| LHX L3Harris | 8 | +11.9% | |
| LMT Lockheed Martin | 4 | +0.3% | |
| NOC Northrop Grumman | 6 | +4.4% | |
| RKLB Rocket Lab USA, Inc. | 8 | +63.5% | |
| RTX RTX Corporation | 9 | +8.7% | |
| SPCX Space Exploration Technologies Corp. | · | n/a | |
| TDG TransDigm Group | 10 | +18.3% | |
| TXT Textron | 7 | +11.8% |