BOEING CO
For the period ended Sep 30, 2026. Filed Oct 27, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 27, 2026
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Global Services
| (Dollars in millions) | Nine months ended September 30 | Three months ended September 30 | ||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenues | $16,288 | $15,714 | $5,574 | $5,370 |
| Earnings from operations | $2,958 | $2,930 | $1,019 | $938 |
| Operating margins | 18.2% | 18.6% | 18.3% | 17.5% |
BGS revenues for the nine months ended September 30, 2026 increased by $574 million compared with the same period in 2025, primarily due to higher commercial and government services revenue, partially offset by the absence of $969 million of revenue as a result of the Digital Aviation Solutions Divestiture. The net favorable impact of cumulative contract catch-up adjustments for the nine months ended September 30, 2026, was $18 million higher than the net unfavorable impact in the prior year comparable period.
BGS revenues for the three months ended September 30, 2026 increased by $204 million compared with the same period in 2025, primarily due to higher commercial and government services revenue, partially offset by the absence of $337 million of revenue as a result of the Digital Aviation Solutions Divestiture. The net unfavorable impact of cumulative contract catch-up adjustments for the three months ended September 30, 2026 was $33 million higher than the net favorable impact in the prior year comparable period.
Earnings From Operations
BGS earnings from operations for the nine months ended September 30, 2026 increased by $28 million compared with the same period in 2025 primarily due to higher government and commercial services revenue, partially offset by the absence of $229 million of earnings as a result of the Digital Aviation Solutions Divestiture. A 2026 gain on asset disposition offset a similar gain on asset disposition in 2025. The net unfavorable impact of cumulative contract catch-up adjustments for the nine months ended September 30, 2026 was $22 million lower than the net unfavorable impact in the prior year comparable period. The Digital Aviation Solutions Divestiture and ongoing disruption in one of our distribution businesses resulting from the transition to a new enterprise resource planning system in late 2025 contributed to the year-over-year reduction in operating margins.
BGS earnings from operations for the three months ended September 30, 2026 increased by $81 million compared with the same period in 2025 primarily due higher commercial and government services revenue, partially offset by the absence of $84 million of earnings as a result of the Digital Aviation Solutions Divestiture. The net unfavorable impact of cumulative contract catch-up adjustments for the three months ended September 30, 2026 was $34 million higher than the net favorable impact in the prior year comparable period.
Backlog
BGS total backlog increased from $29,720 million at December 31, 2025 to $32,725 million at September 30, 2026, primarily due to the timing of awards, partially offset by revenue recognized on contracts awarded in prior years.
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