Boeing's Jet Business Posts Loss in Second-Quarter Earnings

Boeing's commercial airplane business lost money in its second-quarter fiscal 2026 results. The operating margin was negative 2.7%, meaning costs were higher than sales, although it improved from a year earlier due to more planes delivered and a better mix of sales.

The jet business accounts for nearly half of Boeing's revenue, making its margin the key indicator of the company's profits. Management said cash margins on the MAX and Dreamliner are depressed, slightly above breakeven, largely due to pricing drags that take time to dissipate.

Boeing's overall operating margin over the last twelve months was negative 5.4%, significantly lower than its high of 11.7% in the past ten years. Management aims for margins on the MAX to return close to their 2018 level by the end of the decade, but recent news has not helped, with stabilizing MAX production taking longer than expected.