Company: BA
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000012927-25-000062
Chunk: 83

Company: BOEING CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 83
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(Dollars in millions)Six months ended June 30Three months ended June 302025202420252024Revenues$10,344 $9,934 $5,281 $4,889 Earnings from operations$1,992 $1,786 $1,049 $870 Operating margins19.3 %18.0 %19.9 %17.8 %

Revenues

BGS revenues for the six months ended June 30, 2025 increased by $410 million compared with the same period in 2024, primarily due to higher government services revenue. The net unfavorable impact of cumulative contract catch-up adjustments for the 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 items