Company: BA
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000012927-25-000062
Chunk: 13

Company: BOEING CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 13
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 $856 billion for U.S. DoD and $25 billion for NASA.

In July 2025, the One Big Beautiful Bill Act appropriated an additional $156 billion for national defense priorities and an additional $10 billion for NASA programs over the next several years.

There is ongoing uncertainty with respect to final program-level spending for the U.S. DoD, NASA and other government agencies for FY26 and beyond. Future budget cuts or investment priority changes, including changes associated with the authorizations and appropriations process, could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on our financial position, results of operations and/or cash flows.

The non-U.S. market continues to be driven by complex and evolving security challenges and the need to modernize aging equipment and inventories. BDS expects that it will continue to have a wide range of opportunities across Asia, Europe and the Middle East given the diverse regional threats. At June 30, 2025, 22% of BDS backlog was attributable to non-U.S. customers.

Results of Operations

(Dollars in millions)Six months ended June 30Three months ended June 302025202420252024Revenues$12,915 $12,971 $6,617 $6,021 Earnings/(loss) from operations$265 ($762)$110 ($913)Operating margins2.1 %(5.9)%1.7 %(15.2)%

Since our operating cycle is long-term and involves many different types of development and production contracts with varying delivery and milestone schedules, the operating results of a particular period may not be indicative of future operating results. In addition, depending on the customer and their funding sources, our orders might be structured as annual follow-on contracts, or as one large multi-year order or long-term award. As a result, period-to-period comparisons of backlog are not necessarily indicative of future workloads. The following discussions of comparative results among periods should be viewed in this context.

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

Six months ended June 30Three months ended June 302025202420252024F/A-18 Models9443F-15 Models4736CH-47 Chinook (New)121CH-47 Chinook (Renewed)7554AH-64 Apache (New)6323AH-64 Apache (Remanufactured)2113107MH