The Boeing Company is a leading aerospace and defense corporation that operates in multiple segments, focusing on the development, production, and marketing of commercial and military aircraft, as well as providing a range of services to both commercial and government customers . The company sells commercial jet aircraft models such as the 737, 767, 777, and 787, and is actively working on the 777X program and 737 derivatives . Boeing's diverse operations are reflected in its three primary segments, each contributing significantly to its financial performance .
- Defense, Space & Security - Focuses on military aircraft, weapons systems, strategic defense, intelligence systems, and satellite systems .
- Commercial Airplanes - Develops, produces, and markets commercial jet aircraft, including models such as the 737, 767, 777, and 787, and is working on the 777X program and 737 derivatives .
- Global Services - Provides parts, maintenance, modifications, logistics support, training, and data analytics services to both commercial and government customers .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Robert K. Ortberg ExecutiveBoard | President and CEO | Board Member at Aptiv PLC | Aerospace leader with over 35 years of experience; former CEO of Rockwell Collins and Collins Aerospace; joined Boeing in 2024. | |
Brian J. West Executive | EVP and CFO | None | Joined Boeing in 2021; former CFO at Refinitiv and Nielsen; extensive experience in financial leadership and operations. | |
Stephanie F. Pope Executive | EVP, COO, and CEO of Boeing Commercial Airplanes | None | Joined Boeing in 1994; previously CEO of Boeing Global Services; recognized for operational and financial expertise across Boeing's business units. | |
Akhil Johri Board | Director and Chair of Audit Committee | Board Member at Cardinal Health | Former EVP and CFO of United Technologies; expert in financial reporting, internal controls, and risk management; joined Boeing's Board in 2020. | |
David L. Joyce Board | Director and Chair of Aerospace Safety Committee | Senior Advisor at AE Industrial Partners, LP | Former President and CEO of GE Aviation; expert in aerospace engineering, product development, and safety management systems; joined Boeing's Board in 2021. | |
John M. Richardson Board | Director and Chair of Special Programs Committee | Board Member at BWX Technologies and Constellation Energy | Former Chief of Naval Operations; expert in managing complex, high-risk systems; joined Boeing's Board in 2019. | |
Lynne M. Doughtie Board | Director | Board Member at Workday, Inc. | Former U.S. Chairman and CEO of KPMG; expert in accounting, risk management, and regulatory compliance; joined Boeing's Board in 2021. | |
Mortimer J. Buckley Board | Director | Board Member at Pfizer Inc. | Former Chairman and CEO of Vanguard; expert in investment management, cybersecurity, and corporate governance; joined Boeing's Board in 2025. | |
Robert A. Bradway Board | Director and Chair of Finance Committee | Chairman and CEO of Amgen Inc. | CEO of Amgen since 2012; expert in corporate finance, risk management, and executive leadership; joined Boeing's Board in 2016. | |
Sabrina Soussan Board | Director | Chairman and CEO of SUEZ SA | Former Siemens executive; expert in engineering, cybersecurity, and sustainability; joined Boeing's Board in 2023. | |
Stayce D. Harris Board | Director | Board Member at BlackRock Fixed-Income Funds | Retired U.S. Air Force Reserve Lieutenant General and former Boeing 747 pilot; expert in aviation safety, cybersecurity, and audit matters. | |
Steve Mollenkopf Board | Independent Chair of the Board | Board Member at Dell Technologies | Former CEO of Qualcomm; expert in engineering, risk management, and global business operations; joined Boeing's Board in 2020. |
- With the persistent cost overruns and execution issues in your defense programs, particularly those with fixed-price contracts, what specific measures are you implementing to improve risk management and prevent future charges, and how confident are you in their effectiveness?
- Given your plans to reduce the workforce to streamline operations, how do you intend to retain critical talent and expertise necessary for stabilizing the business and improving execution while also reshaping the company culture?
- Can you provide more clarity on your strategy to address the balance sheet and maintain your investment-grade credit rating, including details on the potential size, timing, and impact of any equity or equity-linked offerings?
- Considering the recent IAM strike and supply chain disruptions, what are your updated production targets for the 737 program through next year, and what steps are you taking to mitigate the risks of not meeting these targets?
- As you contemplate developing a new commercial aircraft in the future, how will you balance the significant investment required with your current financial constraints, and what milestones should investors anticipate along this path?
Research analysts who have asked questions during BOEING earnings calls.
Noah Poponak
Goldman Sachs
6 questions for BA
Scott Deuschle
Deutsche Bank
6 questions for BA
Sheila Kahyaoglu
Jefferies
6 questions for BA
Douglas Harned
Sanford C. Bernstein & Co., LLC
5 questions for BA
Peter Arment
Robert W. Baird & Co.
5 questions for BA
Ronald Epstein
Bank of America
5 questions for BA
Seth Seifman
JPMorgan Chase & Co.
5 questions for BA
David Strauss
Barclays
4 questions for BA
Myles Walton
Wolfe Research, LLC
4 questions for BA
Kristine Liwag
Morgan Stanley
3 questions for BA
Robert Stallard
Vertical Research Partners
3 questions for BA
Scott Mikus
Melius Research
3 questions for BA
Gautam Khanna
TD Cowen
2 questions for BA
Jason Gursky
Citigroup Inc.
2 questions for BA
Myles Alexander Walton
Wolfe Research
2 questions for BA
Richard Safran
Seaport Research Partners
2 questions for BA
Cai von Rumohr
TD Cowen
1 question for BA
Doug Harned
Bernstein
1 question for BA
Gavin Parsons
UBS Group AG
1 question for BA
Kenneth Herbert
RBC Capital Markets
1 question for BA
Peter J. Arment
Baird
1 question for BA
Seth Michael Seifman
JPMorgan Chase & Co.
1 question for BA
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company faces aggressive international competition in the commercial jet aircraft market, with this competitor being intent on increasing its market share. Additionally, it continues to build a strategic presence in the U.S. market by strengthening its North American operations and partnering with U.S. defense companies. | |
This competitor provides strong competition in the Defense, Space & Security (BDS) segment, particularly in areas such as military aircraft and weapons systems. | |
This competitor is a key player in the defense market, competing with the company's BDS segment in areas like military aircraft and defense systems. | |
This competitor is noted for its strong presence in the defense sector, competing with the company's BDS segment. | |
This competitor is a significant player in the defense industry, providing competition to the company's BDS segment. | |
SpaceX | This competitor is highlighted as a strong competitor in the space and defense markets, particularly in areas like satellite systems and space exploration. |
This non-U.S. competitor is expanding its presence in the U.S. market by strengthening its North American operations and partnering with U.S. defense companies. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
U.S. Government | Major defense and government services partner | All | 42% of consolidated revenues in 2024 , 91% of BDS segment revenues , 29% of BGS segment revenues. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Spirit AeroSystems Holdings, Inc. | 2025 | Boeing’s acquisition of Spirit AeroSystems Holdings, Inc. is an all-stock transaction valued at approximately $4,700 million, with an exchange ratio ranging from 0.18 to 0.25 Boeing shares per Spirit share. The deal includes the assumption of Spirit's net debt, is subject to regulatory approvals and the sale of certain operations, includes stockholder approval and termination rights with a $300 million fee if terminated, and is expected to close mid-2025. |
Recent press releases and 8-K filings for BA.
- NATO cancels plan to acquire six Boeing E-7 Wedgetail aircraft after the US withdrew from the program citing survivability and cost concerns.
- The E-7, derived from the 737-700NG and equipped with MESA radar, was selected in 2023 with deliveries starting in 2031 to replace 14 E-3A AWACS jets.
- With the US exit, NATO will retain its E-3A fleet until at least 2035 and explore alternative solutions, including Saab’s GlobalEye.
- Total revenues of $934.7 million for the nine months ended September 30, 2025
- Pre-tax net income excluding insurance proceeds of $124.0 million for the same period
- Cash flow from operations of $502.2 million, up 17% year-over-year
- Available liquidity of $5.8 billion and net debt-to-equity ratio of 1.9x as of September 30, 2025
- Portfolio expanded 12% YTD to 470 aircraft as of September 30, 2025
- Aeroméxico’s 3Q25 total revenue was $1.4 billion, down 4.4% YoY; Adjusted EBITDAR reached $441.6 million with a 31.0% margin, the second-best 3Q on record.
- Operating income was $252.8 million (17.7% margin) and net income totaled $96.9 million (6.8% margin), also marking the second-strongest 3Q performance.
- Capacity (ASMs) decreased 0.7% YoY and passenger traffic fell 5.1% to 6.36 million in the quarter.
- Liquidity remained robust with $934.1 million in cash and cash equivalents and an adjusted net debt/EBITDAR ratio of 1.9x as of September 30, 2025.
- 4Q25 guidance calls for capacity down 1.5%–3.0%, revenue YoY –2.0%–0.0%, and an Adjusted EBITDAR margin of 27.5%–29.0%.
- Salient Motion will exhibit its modular actuation systems for aircraft seating, cargo handling, and galley power at Boeing Ventures Booth #2324 during Dubai Airshow 2025 (Nov. 17–21).
- CEO Vishaal Mali will keynote “Breaking the Mold: An Outsider’s Approach to Aerospace Innovation,” and Troy Thompson joins the Boeing Ventures panel “Catalysts of Flight” on Nov. 19.
- The company’s software-driven architecture aims to reduce FAA certification times by up to 50%, cutting costs and lead times for OEMs.
- Since its founding in 2022, Salient Motion has grown to over 35 employees, secured partnerships with a major commercial OEM, is active on military platforms, and is developing its first FAA-certified system for Boeing and Airbus at a new Torrance facility.
- Boeing is investing $1 billion to expand its South Carolina 787 Dreamliner site, aiming to boost production to 10 airplanes per month in 2026 and create 1,000 new jobs.
- The expansion includes a new final assembly building (~1.2 million sq ft), parts preparation, vertical fin paint facilities, and flight line stalls.
- Construction will involve over 2,500 workers and 6.2 million labor hours through a HITT Contracting & BE&K joint venture.
- The 787 program has received orders for 2,250+ aircraft from 90 customers, with a backlog of nearly 1,000 planes after 1,200 deliveries.
- Boeing and Uzbekistan Airways converted options into a firm order for eight 787 Dreamliners, bringing Uzbekistan Airways’ total order book to 22 of the versatile jets.
- The order comprises ultra-efficient 787-9 aircraft to support Uzbekistan Airways’ international network expansion strategy.
- The signing occurred at the C5+1 Summit in Washington, DC, witnessed by U.S. Secretary of Commerce Howard Lutnick and Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov.
- Somon Air commits to up to 14 Boeing jets, including four 787-9 widebodies and ten 737-8 single-aisle aircraft.
- This represents Somon Air’s first widebody order, aimed at launching new intercontinental routes from Dushanbe.
- The new fleet will offer a 20–25% fuel-use improvement over the aircraft it replaces, reducing per-seat and maintenance costs.
- Upon finalization and listing, the deal is projected to support more than 11,000 U.S. jobs.
- Air Astana will purchase up to 15 Boeing 787-9 Dreamliners, marking its largest single airplane purchase to date.
- The deal will support over 20,000 jobs across the U.S., including three additional 787-9s delivered via lessors, bringing the total potential fleet to 18 Dreamliners.
- Each 787-9 seats 303 passengers, enabling Air Astana to expand capacity on routes across Europe, Asia, the Middle East and enter North America.
- The first 787-9 delivery is scheduled for 2026, aligning with the carrier’s decade-long strategy to boost long-haul service from Central Asia.
- AirAsia, under Capital A Berhad, will establish Bahrain as its key Middle East hub with over 25 daily flights by 2030, linking Southeast Asia with Europe and the U.S.
- The airline is considering a Bahrain-based Air Operator Certificate to operate narrowbody aircraft across the Middle East, Central Asia, Africa, and Europe
- Saudi Arabia’s Public Investment Fund has invested approximately $100 million to support AirAsia’s post-pandemic recovery and expansion
- AirAsia aims to grow its fleet from 255 to 600 aircraft and expand its network from 143 to 175 destinations over the next decade
- Boeing’s Q3 2025 revenue was $23.3 B, with a GAAP operating margin of -20.5%, a core loss per share of $7.47, and free cash flow of $0.2 B.
- In Q3, Commercial Airplanes delivered $11.1 B in revenue (margin -48.3%), Defense, Space & Security posted $6.9 B (margin 1.7%), and Global Services generated $5.4 B (margin 17.5%).
- Backlog stood at $535 B for over 5,900 commercial jets, with $76 B in Defense and $25 B in Services orders.
- Liquidity remains solid with $23.0 B in cash and marketable securities against $53.3 B of consolidated debt; S&P and Fitch rate Boeing BBB-, Moody’s at Baa3.