Boeing has published its Q1 results, ending the three-month period with a net loss of only $31 million, with revenues increasing by 18% year-on-year (YoY) following a significant bump in deliveries compared to Q1 2024.
The company also highlighted that in Q1, the production rates of its arguably most crucial commercial aircraft program, the 737 MAX, increased gradually, with the plane maker planning to reach a rate of 38 per month sometime in 2025.
Significant Revenue Improvements
On April 23, Boeing disclosed that in Q1, its revenues improved by 18% YoY, ending the three-month period with revenues of $19.4 billion. Its operating result swung to a profit, with the company which ended Q1 2024 with an operational loss of $86 million, posting an operating profit of $461 million in the first quarter of 2025.
Its net loss was $31 million. Another significant development was that Boeing managed to reduce its cash outflow: while in Q1 2024, it was $3.3 billion, in Q1 2025, the outflow was reduced to $1.6 billion. Cash and investments into marketable securities were still lower than in Q4 2024, as the plane maker ended Q1 with $23.7 billion of cash and investments into marketable securities.
Cash and cash equivalents were $10.1 billion at the end of Q1, compared to $6.9 billion at the end of Q1 2024. Kelly Ortberg, the President and Chief Executive Officer (CEO) of Boeing, remarked that the aircraft manufacturer was moving in the right direction.
“[…] we start to see improved operational performance across our businesses from our ongoing focus on safety and quality. 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.”
Significant BCA Progress
During the quarter, Boeing Commercial Airplanes (BCA) improved its results across the board, with 130 deliveries (Q1 2024: 83) driving revenue growth of 75%. The division ended the three-month period with revenues of $8.1 billion, and while it was still loss-making, with an operational loss of $537 million, it was still a significant improvement compared to Q1 2024’s operational loss of $1.1 billion.
Boeing detailed that in Q1, the 737 program gradually increased production during the quarter, with the plane maker reiterating its goal to build 38 737 MAX
aircraft per month by the end of the year. Previously, The Air Current reported that Boeing had attempted to go to 38 per month, yet issues with production processes forced the company to walk back on those plans. A Boeing spokesperson told Simple Flying that it continues to focus on production stability and quality. The representative reiterated that the 737 MAX program had not “reached rate 38 this year, and the program has not reduced its rate.”
Still, Boeing has continued to stabilize the production rate of the 787
at five per month in Q1, expecting to increase the rate to seven per month later this year. The 777X,
which resumed flight testing in Q1, with the fourth test airframe potentially returning to flight testing soon, should be delivered in 2026 after potential certification in 2025.
Related
Boeing Delivers 130 Commercial Planes In First Quarter
The quarterly result is Boeing’s best since Q4 2023.
221 Net Orders
Boeing added that during the quarter, BCA booked 221 net orders, which include deals with Korean Air,
BOC Aviation, Japan Airlines, and others. Korean Air confirmed a previous order, made during the Farnborough International Airshow in July 2024, for 20 777X and 787-10 each. Japan Airlines added 17 737 MAX 8, as well as 11 Airbus A321neo, to its backlog on March 19.
BOC Aviation, a Bank of China (BOC) company based in Singapore, purchased 55 737 MAXs during the quarter (50 and five in separate orders), while FedEx Express ordered eight 777Fs. The remaining 121 orders for 63 737 MAX, five 777F,
20 777X, and 33 787-9 aircraft are attributed to unidentified customer(s) on Boeing’s orders and deliveries page.
