Boeing (BA) Stock: Plane Deliveries Hit 7-Year High as Revenue Surges 57%

TLDR

• Boeing delivered 600 planes in 2025, the most since 2018, with 737 MAX production hitting 42 jets monthly
• Revenue jumped 57% to $23.95 billion in Q4, beating analyst expectations of $22.6 billion
• Company posted $8.22 billion profit in Q4, driven by $10.6 billion sale of Jeppesen navigation software business
• Boeing acquired Spirit AeroSystems for $4.7 billion in December to improve quality control
• Despite growth, the company burned $1.9 billion in cash for the year due to certification delays

Boeing posted revenue of $23.95 billion in the fourth quarter, marking a 57% jump from the previous year. The aerospace manufacturer delivered 600 commercial aircraft in 2025, its highest count since 2018.

The company swung to a profit of $8.22 billion in Q4 compared to a loss of $3.87 billion in the same period last year. The turnaround came largely from selling its Jeppesen navigation software business to Thoma Bravo for $10.6 billion in cash.

737 MAX production reached 42 planes per month by year-end. The Federal Aviation Administration loosened production limits in September after Boeing demonstrated improved safety checks. Regulators also allowed the company to perform some final safety inspections on its own.

The Boeing Company, BA

Boeing shares dropped about 1% in premarket trading despite beating revenue expectations. Analysts had projected sales of $22.6 billion for the quarter.

The company’s order backlog reached a record $682 billion. CEO Kelly Ortberg told employees that customers and investors “are going to expect more from us this year.”

Boeing burned through $1.9 billion in cash during 2025. Certification delays on the 737 MAX and 777X programs contributed to the cash drain. The company aims to generate positive free cash flow in 2026.

Manufacturing Changes Take Effect

Boeing completed its acquisition of Spirit AeroSystems in December for $4.7 billion in stock. Spirit owns the Wichita factory that handles key stages of 737 MAX production. Boeing had spun off Spirit in 2005 as part of an outsourcing strategy.

The January 2024 door plug blowout on an Alaska Airlines flight exposed quality control problems. This incident prompted Boeing to reverse course and bring Spirit back in-house.

U.S. and foreign regulators approved the acquisition after Boeing agreed to sell some overseas factories. The company also committed to separating its defense business from Spirit’s operations.

The commercial airplane unit lost $632 million in Q4 despite higher deliveries. Boeing’s defense and space division posted a $507 million loss. The defense unit took a $565 million charge on the KC-46 tanker program due to supply chain costs.

Production Targets and Competition

Boeing is working to increase 787 Dreamliner production to eight planes monthly. The company needs faster output to meet its cash flow goals. Executives said reaching $10 billion in annual free cash flow could take several years.

Airbus delivered more planes than Boeing in 2025. The European manufacturer faced its own quality issues with panels from a Spanish supplier. These problems forced Airbus to delay some A320 deliveries.

Boeing held roughly a 20-year head start in the narrow-body jet market. Airbus closed that gap as Boeing dealt with the 737 MAX crisis and manufacturing problems.

Ortberg emphasized the need to certify the 737-7, 737-10, and 777X variants. The company must also address cost overruns on fixed-price defense contracts. A seven-week machinist strike in late 2024 had paralyzed 737 MAX production in Seattle.

Boeing raised over $24 billion in 2024 to shore up its finances. The company settled criminal charges with the Justice Department related to two fatal 737 MAX crashes. It also resolved a labor strike in its defense business during 2025.

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