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.

Boeing Co., consolidated income statement (quarterly data)

US$ in millions

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	21,366)	18,998)	20,445)	19,642)	19,122)	16,147)	11,901)	14,534)	13,524)	13,268)	18,920)	15,060)	16,687)	14,914)	17,126)	13,331)	14,009)	11,427)	12,162)	12,552)	14,154)	12,518)
Sales of services	3,194)	3,219)	3,503)	3,628)	3,627)	3,349)	3,341)	3,306)	3,342)	3,301)	3,098)	3,044)	3,064)	3,007)	2,854)	2,625)	2,672)	2,564)	2,631)	2,726)	2,844)	2,699)
Revenues	24,560)	22,217)	23,948)	23,270)	22,749)	19,496)	15,242)	17,840)	16,866)	16,569)	22,018)	18,104)	19,751)	17,921)	19,980)	15,956)	16,681)	13,991)	14,793)	15,278)	16,998)	15,217)
Cost of products	(19,487)	(17,031)	(19,239)	(22,737)	(17,406)	(14,379)	(14,010)	(18,413)	(12,907)	(12,064)	(16,724)	(14,464)	(15,123)	(13,553)	(15,732)	(14,541)	(12,284)	(11,412)	(14,788)	(11,271)	(12,263)	(11,632)
Cost of services	(2,659)	(2,640)	(2,897)	(2,908)	(2,908)	(2,700)	(2,821)	(2,934)	(2,730)	(2,629)	(2,597)	(2,475)	(2,689)	(2,445)	(2,384)	(2,230)	(2,269)	(2,226)	(2,512)	(2,288)	(2,316)	(2,167)
Cost of products and services	(22,146)	(19,671)	(22,136)	(25,645)	(20,314)	(17,079)	(16,831)	(21,347)	(15,637)	(14,693)	(19,321)	(16,939)	(17,812)	(15,998)	(18,116)	(16,771)	(14,553)	(13,638)	(17,300)	(13,559)	(14,579)	(13,799)
Boeing Capital interest expense	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(8)	(7)	(6)	(7)	(7)	(7)	(9)	(9)
Costs and expenses	(22,146)	(19,671)	(22,136)	(25,645)	(20,314)	(17,079)	(16,831)	(21,347)	(15,637)	(14,693)	(19,321)	(16,939)	(17,812)	(15,998)	(18,124)	(16,778)	(14,559)	(13,645)	(17,307)	(13,566)	(14,588)	(13,808)
Gross profit (loss)	2,414)	2,546)	1,812)	(2,375)	2,435)	2,417)	(1,589)	(3,507)	1,229)	1,876)	2,697)	1,165)	1,939)	1,923)	1,856)	(822)	2,122)	346)	(2,514)	1,712)	2,410)	1,409)
Income (loss) from operating investments, net	24)	(10)	(17)	14)	25)	3)	12)	(15)	7)	67)	1)	28)	44)	(27)	11)	(24)	17)	(20)	15)	120)	38)	37)
General and administrative expense	(1,428)	(1,197)	(1,663)	(1,522)	(1,793)	(1,112)	(1,398)	(1,085)	(1,377)	(1,161)	(1,535)	(1,043)	(1,286)	(1,304)	(1,430)	(1,226)	(668)	(863)	(988)	(1,097)	(1,040)	(1,032)
Research and development expense, net	(921)	(903)	(964)	(897)	(910)	(844)	(836)	(1,154)	(954)	(868)	(881)	(958)	(797)	(741)	(794)	(727)	(698)	(633)	(678)	(575)	(497)	(499)
Gain (loss) on dispositions, net	67)	12)	9,609)	(1)	67)	(3)	41)	—)	5)	—)	1)	—)	1)	—)	4)	—)	1)	1)	(6)	169)	112)	2)
Earnings (loss) from operations	156)	448)	8,777)	(4,781)	(176)	461)	(3,770)	(5,761)	(1,090)	(86)	283)	(808)	(99)	(149)	(353)	(2,799)	774)	(1,169)	(4,171)	329)	1,023)	(83)
Other income, net	79)	194)	201)	276)	325)	323)	432)	265)	248)	277)	308)	297)	320)	302)	336)	288)	253)	181)	132)	30)	199)	190)
Interest and debt expense	(600)	(616)	(659)	(694)	(710)	(708)	(755)	(728)	(673)	(569)	(600)	(589)	(621)	(649)	(632)	(621)	(650)	(630)	(661)	(669)	(673)	(679)
Earnings (loss) before income taxes	(365)	26)	8,319)	(5,199)	(561)	76)	(4,093)	(6,224)	(1,515)	(378)	(9)	(1,100)	(400)	(496)	(649)	(3,132)	377)	(1,618)	(4,700)	(310)	549)	(572)
Income tax (expense) benefit	(63)	(33)	(99)	(140)	(51)	(107)	232)	50)	76)	23)	(21)	(538)	251)	71)	(14)	(176)	(217)	376)	536)	178)	18)	11)
Net earnings (loss)	(428)	(7)	8,220)	(5,339)	(612)	(31)	(3,861)	(6,174)	(1,439)	(355)	(30)	(1,638)	(149)	(425)	(663)	(3,308)	160)	(1,242)	(4,164)	(132)	567)	(561)
Net (earnings) loss attributable to noncontrolling interest	(16)	3)	—)	2)	1)	(6)	(4)	4)	—)	12)	7)	2)	—)	11)	29)	33)	33)	23)	21)	23)	20)	24)
Net earnings (loss) attributable to Boeing shareholders	(444)	(4)	8,220)	(5,337)	(611)	(37)	(3,865)	(6,170)	(1,439)	(343)	(23)	(1,636)	(149)	(414)	(634)	(3,275)	193)	(1,219)	(4,143)	(109)	587)	(537)
Mandatory convertible preferred stock dividends accumulated during the period	(86)	(86)	(86)	(87)	(86)	(86)	(58)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net earnings (loss) attributable to Boeing common shareholders	(530)	(90)	8,134)	(5,424)	(697)	(123)	(3,923)	(6,170)	(1,439)	(343)	(23)	(1,636)	(149)	(414)	(634)	(3,275)	193)	(1,219)	(4,143)	(109)	587)	(537)

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.

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Boeing Co. (NYSE:BA)

Income Statement Quarterly Data

Income Statement
Quarterly Data