$BA · Schwab Network · 2026-10-27
波音本季度业绩表现分化：每股亏损34美分，亏损幅度大于预期，商用飞机收入下滑，抵消了营收同比增长3.9%至241.9亿美元、自由现金流为正4.64亿美元、创纪录的7450亿美元订单储备以及737 Max认证等利好。该股盘前下跌，近三个月累计下跌15%，近六个月累计下跌18%；波音仍需交付积压飞机，以改善现金流和资产负债表。
逐段跳播
接下来我们来说说波音的情况。我们有一些股票会去看它们的财报，波音就是其中之一。波音股价在盘前交易中下跌了约3.50美元。他们今天一早公布了财报。净亏损为每股34美分，略高于分析师的预期，分析师原本预期在20到21美分之间。
所以，亏损比预期更大，但营收则带来了正面惊喜，达到241.9亿美元，同比增长3.9%，也略高于约240亿美元的预期。
Now let's move on to the story of Boeing. We had some stocks whose earnings we would look at. Boeing is one of them. Boeing's stock fell by about $3.50 in pre-market trading . They announced their earnings early this morning.
The net loss was 34 cents per share . That was slightly bigger than analysts had expected . They were expecting something between 20 and 21 cents. So , a bigger loss than expected, but the revenue was a positive surprise.
It reached $24.19 billion, an increase of 3.9% year-on-year, and slightly higher than expectations of around $24 billion.
至于经营现金流，达到15亿美元，增长33%。自由现金流——这一点很重要，因为自由现金流在这里转正了，达到4.64亿美元。所以，这是好消息。波音的订单积压量创下7450亿美元的历史新高。
所有737 Max飞机现在都获得了认证，这是很久以来的第一次。所以，自由现金流方面是好消息，但公司的一些部门仍然在承压，财报业绩有些令人失望，股价在开盘前小幅下跌。我们看看接下来会怎样。
我相信波音CEO Kelly Ortberg会在今天全天发表一些评论。我们拭目以待，但总的来说，这份财报仍然显示商用飞机营收出现了下滑。国防、太空与安全部门的营收增长了15%，全球服务继续是强劲的贡献者，利润为10亿美元，营业利润率为18.3%。
所以，仍然存在一些挑战。归根结底，他们必须完成这些积压订单，必须交付这些飞机，这将增加自由现金流并改善他们的资产负债表。这是一家仍在努力恢复平衡的公司，Nicole。
As for operating cash flow, it reached $1.5 billion, an increase of 33 %. Free cash flow, and this is important because free cash flow turned positive here, reaching $464 million .
So, this is good news. Boeing's backlog of orders hit a record high of $745 billion . For the first time in a long time, all 737 Max aircraft are now certified. So, good news on free cash flow, but there is still suffering in some parts of the company, somewhat disappointing earnings results , and the stock is slightly lower ahead of the open.
We'll see what happens. I'm sure Kelly Ortberg, the CEO of Boeing , will make some comments throughout the day. We'll see, but all things considered, it was still a matter of the earnings report showing that commercial aircraft revenues had declined.
The defense, space and security sector saw its revenues grow by 15%, and global services continued to be a strong contributor, with profits of $1 billion and an operating margin of 18.3%.
So, there are still some challenges. The bottom line is that they have to fulfill these backlogged orders, and they have to deliver these aircraft, which will increase free cash flow and improve their balance sheet .
This is a company that is still trying to regain its balance, Nicole.
是的，而且你看，过去几个月一直呈下行趋势。三个月内下跌了15%，六个月内下跌了18%，而254美元的52周高点似乎遥不可及。所以，对波音来说，这是一条漫长的路。
Yes, and look, over the past few months, there have been downward trends. A 15% drop in three months, and an 18% drop in six months , and the 52-week high of $254 seems out of reach. So, it's been a long road for Boeing.
观察点
这个频道对 $BA 的历次判断
Schwab Network 在这只股票上共 5 条判断，这里只列相邻的几条。