Company: BA
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047023
Chunk: 49

Company: BOEING CO
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 49
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 in this context.

Deliveries of new-build production units, including remanufactures and modifications, were as follows:

Nine months ended September 30Three months ended September 302025202420252024F/A-18 Models12531F-15 Models71033T-7A Red Hawk11CH-47 Chinook (New)12CH-47 Chinook (Renewed)9722AH-64 Apache (New)141087AH-64 Apache (Remanufactured)2824711MH-139 Grey Wolf63 13P-8 Models4421KC-46 Tanker91045Commercial Satellites42Total94763234

Revenues

BDS revenues for the nine months ended September 30, 2025, increased by $1,310 million compared with the same period in 2024. The increase is primarily due to $1,438 million lower net unfavorable cumulative contract catch-up adjustments compared to the prior year comparable period. The increase in revenue was partially offset by the absence of a favorable MQ-25 contract modification that was awarded during the first quarter of 2024.

BDS revenues for the three months ended September 30, 2025, increased by $1,366 million compared with the same period in 2024. The increase reflects $830 million lower net unfavorable cumulative contract catch-up adjustments. The increase also reflects higher volume of $525 million primarily on E-7, KC-46A, and weapons programs.

Earnings/(Loss) From Operations

BDS earnings from operations for the nine months ended September 30, 2025, was $379 million, compared with a loss from operations of $3,146 million in the same period in 2024. The year-over-year improvement in earnings is primarily due to lower net unfavorable cumulative catch-up adjustments of $3,714 million compared to the prior year comparable period. During the nine months ended September 

48

30, 2024, losses incurred on the five major fixed-price development programs totaled $3,302 million. Losses on the five major development programs were not significant in 2025. In addition, the year over year earnings improvement reflects higher earnings from other programs including fighters, P-8, satellites and weapons.

BDS earnings from operations was $114 million for the three months ended September 30, 2025, compared with loss from operations of $2,384 million in the same period in 2024. The year over year improvement in earnings reflects a decrease in net