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.
David Strauss
Barclays
4 questions for BA
Douglas Harned
Sanford C. Bernstein & Co., LLC
4 questions for BA
Myles Walton
Wolfe Research, LLC
4 questions for BA
Noah Poponak
Goldman Sachs
4 questions for BA
Peter Arment
Robert W. Baird & Co.
4 questions for BA
Scott Deuschle
Deutsche Bank
4 questions for BA
Seth Seifman
JPMorgan Chase & Co.
4 questions for BA
Sheila Kahyaoglu
Jefferies
4 questions for BA
Ronald Epstein
Bank of America
3 questions for BA
Jason Gursky
Citigroup Inc.
2 questions for BA
Richard Safran
Seaport Research Partners
2 questions for BA
Cai von Rumohr
TD Cowen
1 question for BA
Gavin Parsons
UBS Group AG
1 question for BA
Ken Herbert
RBC Capital Markets
1 question for BA
Kristine Liwag
Morgan Stanley
1 question for BA
Robert Stallard
Vertical Research Partners
1 question for BA
Scott Mikus
Melius Research
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.
- Canadian carrier WestJet has placed an order for 67 Boeing jets, bringing its firm order book to 123 airplanes (60 737-10s with options for 25 more; 7 787-9s with options for 4 more).
- The deal will double WestJet’s Dreamliner fleet, underpinning the airline’s plans to expand domestic and international routes and improve fuel efficiency.
- WestJet’s 737-10 order book now stands at 107 aircraft, enhancing operational commonality and maintaining the lowest cost per seat among single-aisle jets.
- Macquarie AirFinance increased its commitment to 30 Boeing 737-8 jets, expanding its 737 MAX portfolio to 70 aircraft.
- The 737-8 seats up to 210 passengers with a range of 3,500 nautical miles and cuts fuel use and carbon emissions by 20% versus older models.
- Lessor orders now represent nearly one-quarter of Boeing’s 737 MAX order book; Boeing forecasts 33,000 new single-aisle jets needed over the next 20 years.
- Boeing Company has established a $3.0 billion syndicated revolving credit facility, fully committed by a group of 28 banks to support its liquidity needs.
- Key covenants require Boeing to maintain consolidated debt at no more than 60% of total capital and to keep minimum liquidity of $5.0 billion, along with regular quarterly and annual financial reporting.
- The company may extend the facility’s termination date by up to 364 days, subject to consent from lenders representing over 50% of the commitments.
- Top commitments under the facility include Citibank, N.A. and JPMorgan Chase Bank, N.A. each providing approximately $228 million.
- Atlas Air Worldwide announced a long-term dedicated airfreight agreement with DSV, deploying a newly delivered 777-200F exclusively for DSV on key lanes.
- The agreement covers operations across Asia, Europe, and the United States, including the critical Huntsville (HSV)–Luxembourg (LUX) corridor.
- The Boeing 777 Freighter offers a 103-ton payload and 4,970-nautical-mile range, delivering improved fuel efficiency and reduced emissions.
- Atlas Air’s extensive operating footprint and traffic rights will provide DSV enhanced control over capacity, schedules, and connectivity.
- Korean Air places $50 billion order for 103 Boeing aircraft (787s, 777s, 737s), marking its largest purchase to date and valued at about $36.5 billion for the planes
- The deal also encompasses $13.7 billion in GE Aerospace engine purchases and servicing
- Korean Air CEO Cho Won-tae says the order will support route expansion to the US, Latin America, and South America, and help integrate Asiana Airlines
- US Commerce Secretary Howard Lutnick notes the Boeing and GE deals will boost US aerospace exports
- CPI Aero posted Q2 revenue of $15.2 M, down from $20.8 M, with gross profit of $0.7 M (4.4% margin; 17.1% excluding A-10 impact) versus $5.1 M (24.6%) a year ago, resulting in a net loss of $1.3 M (EPS –$0.10) and Adjusted EBITDA of –$1.7 M ($0.6 M ex-A-10) compared to a $1.4 M profit and $2.6 M Adjusted EBITDA in Q2 2024.
- For the six months ended June 30, 2025, revenue totaled $30.6 M (vs. $39.9 M), gross profit was $2.3 M (7.6% margin; 19.3% ex-A-10) vs. $8.7 M (21.7%), with a net loss of $2.6 M (EPS –$0.21) and Adjusted EBITDA of –$2.5 M ($2.0 M ex-A-10) versus $1.6 M income and $3.8 M Adjusted EBITDA in H1 2024; debt declined to $16.2 M from $18.9 M.
- The company took a $2.3 M write-off on the A-10 Program due to its termination by Boeing and fleet retirement, with a six-month A-10 impact of $4.5 M.
- CPI Aero ended Q2 with a $506 M backlog, including awards from Raytheon, Sikorsky, Lockheed, the U.S. Air Force and Embraer, and reduced its debt-to-Adjusted EBITDA ratio to 2.7x excluding A-10 impact.
- Turkish Airlines will invest €275 million as a convertible loan and €25 million for immediate share purchase, subject to regulatory approval.
- Air Europa will use the €300 million injection plus its cash balance to repay a €475 million SEPI government loan.
- The deal grants Turkish Airlines a 26–27% stake, making it Air Europa’s second-largest shareholder behind Globalia (80%) and ahead of IAG (20%).
- A previous €500 million takeover bid by IAG was blocked by EU competition regulators, clearing the way for this transaction.
- Airbus’s A320 family has delivered 12,155 units as of early August 2025, trailing the Boeing 737 by only 20 units and set to surpass its long-held delivery record within weeks.
- Airbus outpaced Boeing in April 2025 deliveries with 59 A320-family jets versus 45 Boeing planes, underscoring recent delivery momentum.
- The A320’s design innovations—digital fly-by-wire controls and engine flexibility—contrast with maintenance delays on A320neo’s Pratt & Whitney GTF engines due to high-tech coating issues.
- Airbus plans to deliver over 820 aircraft in 2025 and is developing next-generation models targeting advanced engines and hydrogen propulsion by the mid-2030s, while Boeing awaits new technology to update its 737 lineup.
- ACG reported $612.5 M in revenues and $613.8 M pre-tax net income for the six months ended June 30, 2025, including $506.4 M of insurance settlements; net income excluding insurance rose 105% y/y to $107.4 M
- Available liquidity was $5.8 B, and net debt to equity improved to 1.9× from 2.3× as of March 31, 2025
- Deployed $1.6 B in capex on aircraft assets, secured $9.5 B of new aircraft commitments through 2031, and held $893.9 M of aircraft for sale as of June 30, 2025
- Added 10 new technology aircraft, reduced portfolio average age to 5.7 years, closed an undrawn $1.0 B secured term loan, and expanded revolver capacity to $1.5 B
- Boeing delivered 48 aircraft in July 2025, including 37 737 MAX jets, the highest July tally since 2017 though down from June’s 60.
- Boeing secured 31 gross orders in July 2025, translating to 63 net orders for the month and 739 net orders year-to-date.
- Airbus led with 67 jet deliveries in July and holds a year-to-date lead of 373 aircraft, targeting 820 deliveries for 2025 despite supplier constraints.
- Single-aisle jets comprised 66% of July deliveries, with Airbus delivering 286 A320neo family jets versus Boeing’s 243 737 MAX year-to-date.
- CEO Kelly Ortberg highlighted strengthened safety and quality controls as central to stabilizing operations and improving aircraft quality.