Boeing Stock Stuck in Neutral Despite Record Deliveries

Boeing's stock price has been stagnant since September 2023, with only a 0.6% return over the past three years. Despite delivering its best quarterly total of aircraft in 2018 and posting an 8% revenue increase to $24.6 billion in Q2 2026, the stock remains flat.

CFO Jay Malave attributed the disconnect between rising deliveries and stagnant program economics to legacy contracts signed during Boeing's weakest years, which still eat into the cash generated by each new jet. The company booked a $280 million charge on the VC-25B Air Force One program in Q2 and paid a $3.1 million FAA fine related to the 2024 Alaska Airlines door-plug blowout.

The F/A-XX decision, which could be announced within weeks, may break Boeing's three-year standstill. A win would hand Boeing's defense unit a multi-decade production program as its margins recover from years of fixed-price losses.