Boeing (BA) Q3 2025 10-Q Quarterly Report
Boeing (BA) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 29, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Boeing Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $23.27B Q3 FY25 vs $17.84B Q3 FY24, up $5.43B (+30.4%), driven by Commercial Airplanes (+$3.65B) and Defense, Space & Security (+$1.37B)
- • Operating margin Q3 FY25 (GAAP) (20.5%) vs (32.3%) YoY; Core operating margin (non-GAAP) (21.7%) vs (33.6%) YoY, improved by ~12 pp
- • Best segment: Defense, Space & Security profit from operations Q3 FY25 $114M vs loss ($2.38B) YoY; Worst segment: Commercial Airplanes loss from operations Q3 FY25 ($5.35B) vs ($4.02B) YoY, margin (48.3%) vs (54.0%) YoY
- • Cash & equivalents $6.88B Q3 FY25 vs $9.98B Q3 FY24; Operating cash flow used $0.3B YTD FY25 vs $8.6B used YTD FY24, driven by higher deliveries and working capital improvements
- • Management highlights continuing FAA-induced 737 production challenges, delayed certification for 737-7/737-10, and delays in 777X certification pushing first delivery to 2027; forecasts risk from labor strikes, supply chain inflation, and U.S.-China trade tensions
Risk Factors
- • Newly added risk: China delivery pause in Q2 2025 triggered by ongoing U.S.-China tariff negotiations impacting commercial aircraft deliveries
- • Most materially updated risk: heightened U.S.-China and EU trade tensions increasing potential for lower demand, delivery delays, and order terminations
- • Most impactful regulatory risk: escalating tariffs and retaliatory trade actions raising product costs and complicating export compliance requirements
- • Operational risk: complexity managing global supply chain amid tariffs, trade restrictions, and political volatility affecting near-term delivery schedules
- • Financial risk: exposure to currency fluctuations and financing uncertainties from non-U.S. customers, accounting for 46% total and 70% Commercial Airplanes revenues
Boeing Q3 2025 Quarterly FinancialsXBRL
Revenue
$23.3B
▲ +30.4% YoY▲ +2.3% QoQ
Net Income
-$5.3B
▲ +13.5% YoY▼ -773.5% QoQ
Operating Margin
-20.5%
▲ +1175bp YoY▼ -1977bp QoQ
Net Margin
-22.9%
▲ +1165bp YoY▼ -2025bp QoQ
ROE
64.7%
Total Assets
$150.0B
EPS (Diluted)
$-7.16
▲ +28.5% YoY▼ -669.9% QoQ
Operating Cash Flow
$1.1B
▲ +183.5% YoY▲ +394.7% QoQ
Source: XBRL data from Boeing Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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