Stock Analysis on Net
Stock Analysis on Net

Boeing Co. (NYSE:BA)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Boeing Co., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Sales of products
Sales of services
Revenues
Cost of products
Cost of services
Cost of products and services
Boeing Capital interest expense
Costs and expenses
Gross profit (loss)
Income (loss) from operating investments, net
General and administrative expense
Research and development expense, net
Gain (loss) on dispositions, net
Earnings (loss) from operations
Other income, net
Interest and debt expense
Earnings (loss) before income taxes
Income tax (expense) benefit
Net earnings (loss)
Net (earnings) loss attributable to noncontrolling interest
Net earnings (loss) attributable to Boeing shareholders
Mandatory convertible preferred stock dividends accumulated during the period
Net earnings (loss) attributable to Boeing common shareholders

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


Revenue trajectories exhibit a general upward trend over the analyzed period, increasing from 15.2 billion USD in March 2021 to 24.6 billion USD by June 2026. This growth is primarily driven by the sales of products, which climbed from 12.5 billion USD to 21.4 billion USD. Sales of services remained comparatively stable, demonstrating a gradual and steady increase from approximately 2.7 billion USD to 3.2 billion USD.

Gross Profitability and Cost Volatility
Gross profit exhibits significant volatility, characterized by frequent swings between positive gains and substantial losses. While several quarters show positive margins, notable declines occurred in December 2021, September 2022, September 2024, and September 2025. The loss in September 2024 was particularly acute, with costs of products and services reaching 21.3 billion USD against revenues of 17.8 billion USD, resulting in a gross loss of 3.5 billion USD.
Operating Expense Trends
Research and development expenses show a consistent long-term increase, rising from 499 million USD in March 2021 to 921 million USD in June 2026, indicating a sustained investment in technical development. General and administrative expenses have fluctuated but generally trended upward, peaking at 1.79 billion USD in June 2025.
Operational Performance
Earnings from operations remained predominantly negative throughout the period, reflecting recurring operational challenges. Operating losses were frequent and often severe, such as the 5.8 billion USD loss reported in September 2024. However, a significant outlier occurred in December 2025, where operating earnings spiked to 8.8 billion USD; this anomaly is directly attributable to a one-time gain on dispositions totaling 9.6 billion USD rather than organic operational improvement.
Net Earnings and Bottom-Line Impact
Net earnings closely mirror the volatility of operating results. The company experienced deep net losses in December 2021 (4.2 billion USD) and September 2024 (6.2 billion USD). The net earnings surge to 8.2 billion USD in December 2025 was driven by the aforementioned disposition gain. Outside of this exceptional event, the trend for net earnings attributable to common shareholders remains largely negative, with losses recurring in the majority of quarters through June 2026.
Financial Obligations
Interest and debt expenses have remained relatively stable, generally fluctuating between 600 million USD and 750 million USD per quarter, indicating a consistent cost of debt servicing throughout the period.