Boeing’s turnaround is now reflected in its figures. The aircraft manufacturer published its annual results on January 27, reporting revenue of $89.46 billion, up 34% compared with 2024. The company also returned to positive operating and net results — $4.3 billion and $2.24 billion, respectively — after posting losses in the tens of billions in 2024. The operating margin thus returned to positive territory at 4.8%. However, the results benefited from a $9.6 billion accounting gain related to the sale of part of its Digital Aviation Solutions business.
Despite that exceptional gain, Boeing’s performance is genuinely improving. With 600 commercial aircraft deliveries in 2025 and stronger operational efficiency, Commercial Airplanes revenue surged 82% to $41.5 billion. The division’s operating result remained negative, though losses narrowed slightly compared to the previous year. The impact of the Spirit AeroSystems acquisition, completed in the fourth quarter, was also reflected in these results.
Boeing said it ramped up 737 MAX production to 42 aircraft per month during the fourth quarter, up from the prior limit of 38. On the same program, the company received FAA approval to begin final flight testing for 737-10 certification. The 787 production ramp-up also progressed well, with stable output at eight aircraft per month. Meanwhile, the 777X program entered Phase 3 of the type inspection authorization process for 777-9 flight certification tests in the fourth quarter, allowing Boeing to maintain its 2027 entry-into-service target.
On the commercial side, Boeing recorded a strong order intake in 2025, with 1,173 net orders, bringing its backlog to over 6,100 aircraft, worth an estimated $567 billion.
The Defense segment also saw a 14% increase in revenue, though it booked a $600 million charge on the KC-46A program, tied to higher support and supply chain costs.
Finally, the Services business posted a 5% increase in revenue, reaching $20.9 billion, reflecting its overall stability. The division’s operating profit nearly quadrupled, primarily as a result of the partial sale of the Digital Aviation Solutions unit.
“We made significant progress in our recovery in 2025 and have laid the groundwork to sustain our momentum in the year ahead,” said Kelly Ortberg, Boeing’s president and CEO. “We finalized the acquisition of Spirit AeroSystems and the partial sale of our Digital Aviation Solutions business. We remain focused on driving stable operations, completing our development programs, rebuilding trust with our stakeholders, and fully restoring Boeing to the iconic company we all know it can be.”
