Boeing shares (NYSE:BA) are trading at $222 ahead of tomorrow morning’s earnings, 2.5% lower YTD, but off the back of a year that has seen holders add 39%. It’s fair to say that markets are keenly awaiting the aerospace giant’s Q1 2026 earnings, scheduled for release before the opening bell to gauge whether the company can sustain the momentum built in late 2025.
The consensus among analysts is that Boeing’s earnings per share loss is expected to widen to $-0.68, from a loss of 49cents per share during the same period last year, with expected revenue growth of 12.93% to $22.02 billion.
Looking at previous quarter’s for clues, and Boeing’s Q4 2025 earnings significantly exceeded expectations, setting a high bar. Revenue for the quarter reached $23.95 billion, a 57.1% year-over-year surge that also surpassed analyst forecasts of $22.41 billion, with EPS that was expected negative up at $9.92 per share. The result was heavily influenced by a $9.6 billion gain from the sale of its Digital Aviation Solutions business, contributing $11.83 to the EPS, skewing the figures.
The strong Q4 2025 performance fuelled a notable rise in Boeing’s stock price. Over the three months preceding the earnings release, the stock climbed 23.58%, with markets growing in confidence in Boeing’s turnaround strategy.
Several operational achievements in 2025 underpinned Boeing’s financial rebound. The company delivered 600 commercial airplanes, marking the highest annual total since 2018. Boeing also stabilized 737 production at 42 units per month, with plans to further increase this rate. Additionally, the company aimed to elevate 787 production to 10 units per month later in the year, showcasing its commitment to boosting output.
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Strategic moves, such as the acquisition of Spirit AeroSystems and the sale of the Jeppesen unit, also played a crucial role. The acquisition of Spirit AeroSystems, though expected to create a near-term cash headwind of approximately $1 billion in 2026, is considered essential for improving supply chain control and ensuring future production stability. Boeing finalized the $10.6 billion sale of its Jeppesen unit, further streamlining its operations.
Despite these positive developments, challenges remain. Boeing recorded a $565 million loss on the KC-46 program in 2025 due to higher production support and supply chain costs. These ongoing issues highlight the complexities the company faces in managing its diverse portfolio.
Price Targets
Given the anticipation surrounding the earnings report, increased volatility is expected, and the options markets is implying around a 5.3% move in the share price either way. The results will provide valuable insights into Boeing’s progress in addressing its operational challenges and capitalizing on growth opportunities, but after an 11.5% run over the past month, the margin for error is narrowing.
