TLDR
- Boeing (BA) stock is down 17% year to date, per Reuters, ahead of Q3 results before the open Tuesday.
- Analysts expect a loss of 21 to 26 cents a share, 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 17.3% year to date as of Mondayâs market open, according to Reuters. The planemaker 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 this quarter. LSEG data points to a loss of 21 cents a share, while TipRanks cites 26 cents.
Boeing lost $7.47 a share in the same quarter last year. Revenue is projected to rise about 3% to $23.95 billion.
Options traders are pricing in a move of about 5% in either direction after the report. BA has moved about 4% on average after its past four earnings releases.
Past reactions have ranged from 2% to 6%. This time the market is braced for a bigger swing than usual.
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 spending is forecast at $905 million.
Analysts see a net loss of $153 million. That compares with a 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 earlier. That is real progress, even if the stock hasnât noticed.
BNP Paribas analyst Matt Akers says investors care most about free cash flow and deliveries. He points to 777-9 certification and new defense production facilities as current drains.
Wins the market already priced in
Boeing won the US Navyâs F/A-XX fighter contract and certified the last two 737 MAX variants. The FAA cleared the 737 MAX 10 this month.
The company 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.
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.
Bernsteinâs Douglas Harned cut his price target to $278 from $298 and kept a Buy rating. RBCâs Kenneth Herbert lowered his target to $235 from $265, also with a Buy.
Herbert does not expect Boeing to raise its commercial delivery outlook. Wall Street holds 18 Buy ratings and one Hold, with an average target of $266.94, about 42% above the current price.
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