Company: BA
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000012927-25-000062
Chunk: 16

Company: BOEING CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 16
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 six months ended June 30, 2025 was $51 million lower than the prior year comparable period.

BGS revenues for the three months ended June 30, 2025 increased by $392 million compared with the same period in 2024, primarily due to higher government services revenue. The net favorable impact of cumulative contract catch-up adjustments for the three months ended June 30, 2025 was $43 million higher than the net unfavorable impact in the prior year comparable period.

Earnings From Operations

BGS earnings from operations for the six months ended June 30, 2025 increased by $206 million compared with the same period in 2024, due to higher government and commercial services revenue and a 2025 gain on asset disposition. The net unfavorable impact of cumulative contract catch-up adjustments for the six months ended June 30, 2025 was $17 million lower than the prior year comparable period.

50

BGS earnings from operations for the three months ended June 30, 2025 increased by $179 million compared with the same period in 2024, primarily due to higher commercial services earnings including a 2025 gain on asset disposition. The net unfavorable impact of cumulative contract catch-up adjustments for the three months ended June 30, 2025 was $15 million lower than the prior year comparable period.

Backlog

BGS total backlog increased from $21,403 million at December 31, 2024 to $21,939 million at June 30, 2025, primarily due to the timing of awards, partially offset by revenue recognized on contracts awarded in prior years.

Liquidity and Capital Resources

Cash Flow Summary

(Dollars in millions)Six months ended June 3020252024Net loss($643)($1,794)Non-cash items2,101 2,039 Changes in assets and liabilities(2,847)(7,530)Net cash used by operating activities(1,389)(7,285)Net cash used by investing activities(3,946)(26)Net cash (used)/provided by financing activities(725)5,538 Effect of exchange rate changes on cash and cash equivalents34 (25)Net decrease in cash & cash equivalents, including restricted(6,026)(1,798)Cash & cash equivalents, including restricted, at beginning of year13,822 12,713 Cash & cash equivalents, including restricted, at end of period$7,796 $10,915