TLDR
- Boeing (BA) stock is down about 17% year to date, per Reuters, ahead of Q3 results before the open Tuesday.
- Analysts expect a loss per share of 21 to 26 cents, versus a $7.47 loss a year ago.
- Revenue is forecast to rise about 3% to $23.95 billion.
- Options traders price in a 5% move, above the 4% average of the past four reports.
- Bernstein and RBC kept Buy ratings but cut price targets to $278 and $235.
Boeing (BA) stock is down about 17% year to date, according to Reuters data as of Monday’s market open. The company reports third-quarter results before the market opens Tuesday, October 27.
TipRanks puts the 2026 decline at more than 13%. BA stock was down 0.05% in early trading Tuesday.
Wall Street expects a narrower loss per share this quarter. LSEG data points to a loss of 21 cents, while TipRanks cites 26 cents.
A year ago, Boeing lost $7.47 per share. Revenue is projected to rise about 3% to $23.95 billion.
What analysts expect from the numbers
LSEG consensus calls for free cash flow of $330.5 million in the quarter and $2.3 billion for the year. Capital expenditures are forecast at $905 million.
Analysts see a net loss of $153 million. That compares with a net loss of almost $6 billion in the same period of 2025.
Net debt is expected at $25.4 billion, down from $30.4 billion a year ago. Not bad for a company still waiting on a clean turnaround story.
BNP Paribas analyst Matt Akers says investors care most about free cash flow and deliveries. The current drains are 777-9 certification and new defense production facilities.
Wins the market already priced in
The quarter brought a run of good news. Boeing won the US Navy’s F/A-XX fighter contract and certified the last two 737 MAX variants, including the MAX 10.
It also delivered 363 737 MAX jets in the first nine months of 2026, its fastest pace ever. Akers says the market had already accounted for these wins, and they did little for the stock.
Production is still a sore spot. Boeing is trying to stabilize output at 47 737 jets a month, and the ramp has taken longer than executives expected.
The 787 line has also struggled to move from eight jets a month to 10. Investors want updates on production, quality and free cash flow guidance.
Bernstein’s Douglas Harned cut his price target to $278 from $298 and kept a Buy rating. RBC’s Kenneth Herbert lowered his target to $235 from $265, also with a Buy rating, and does not expect a higher commercial delivery outlook.
Options traders price in about a 5% move after earnings. BA has moved about 4% on average after its past four reports, with a range of 2% to 6%.
Wall Street holds 18 Buy ratings and one Hold on Boeing. The average price target is $266.94, about 42% above the current price.
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