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Shares of Boeing Co. (BA) rallied 5% in Wednesday’s pre-market session after the airplane manufacturer’s first-quarter losses narrowed significantly and revenues improved.
Boeing reported an 18% year-over-year (YoY) rise in its first-quarter (Q1) revenue to $19.49 billion that fell short of a Wall Street estimate of $19.79 billion, according to FinChat data. The rise in revenue was primarily driven by 130 commercial deliveries.
The company reported adjusted loss per share of $0.49, narrower than an analyst estimate of $1.3. Net loss narrowed to $31 million during the quarter compared to $355 million in the same quarter a year ago.
CEO Kelly Ortberg said the company is moving in the right direction as it begins to see improved operational performance across businesses.
"We continue to execute our plan, are seeing early positive results, and remain committed to making the fundamental changes needed to fully recover the company's performance while navigating the current environment,” he said.
Boeing stated that production of the 737 jet increased gradually in the quarter and is expected to reach 38 per month this year.
The company’s backlog increased 4% to $544.74 billion during the quarter, including over 5,600 commercial airplanes.
According to a CNBC report, Boeing is getting ready to obtain approval from the Federal Aviation Administration (FAA) to increase production of its 737 Max jets to 42 per month this year.
“While we are closely watching the developments in global trade, our strong start to the year, combined with the demand for airplanes and our half-trillion-dollar backlog for our products and services, gives us the flexibility we need to navigate this environment,” Ortberg said in a staff note Wednesday, according to CNBC.
Segment-wise, Commercial Airplanes’ first-quarter revenue rose 75% to $8.15 billion while Defense, Space & Security revenue fell 9% YoY to $6.3 billion. Global Services revenue remained flat at $5.1 billion.
Boeing shares have lost over 5% in 2025 and nearly 4% in the past 12 months.
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