Boeing (BA) shares were down about 17% year to date as of Monday's market open, according to Reuters data, with third-quarter results scheduled for release before the market opens on Tuesday, October 27. TipRanks puts the 2026 decline at more than 13%, and the stock slipped 0.05% in early trading on Tuesday.

Wall Street expects a considerably narrower loss per share this quarter. LSEG data points to a loss of 21 cents, while TipRanks cites 26 cents. A year earlier, Boeing lost $7.47 per share. Revenue is projected to rise about 3% to $23.95 billion. The results arrive after a stretch of contract wins and delivery milestones for the aerospace giant, and the numbers will serve as a financial scorecard for that run of operational momentum.

What analysts expect from the numbers

LSEG consensus calls for free cash flow of $330.5 million in the quarter and $2.3 billion for the full year, with capital expenditures forecast at $905 million. Analysts model a net loss of $153 million, a marked improvement from the net loss of almost $6 billion recorded in the same period of 2025.

Net debt is expected to reach $25.4 billion, down from $30.4 billion a year ago. That would represent steady progress for a company still awaiting a clean turnaround story, and it explains why the free cash flow forecast sits at the center of this quarter's setup: with net debt still in the tens of billions, cash generation is what moves those debt levels.

BNP Paribas analyst Matt Akers said investors care most about free cash flow and deliveries. The current drains on cash, he noted, are 777-9 certification effort and new defense production facilities.

Wins the market has already priced in

The quarter produced a run of positive headlines. Boeing won the US Navy's F/A-XX fighter contract, securing a spot in the Navy's next-generation fighter program, and certified the last two 737 MAX variants, including the MAX 10. The company also delivered 363 737 MAX jets in the first nine months of 2026, its fastest pace ever.

Akers said the market had already accounted for these wins, and they did little for the stock.

Production remains a sore spot, and the part of the story that feeds directly into the delivery counts and cash flow investors say they prioritize. Boeing is trying to stabilize output at 47 737 jets per month, and the ramp has taken longer than executives expected. The 787 line has also struggled to move from eight jets per month to 10. Investors are looking for updates on production, quality, and cash flow guidance.

Analyst actions and market expectations

Bernstein's Douglas Harned cut his price target to $278 from $298 and kept a Buy rating. RBC's Kenneth Herbert lowered his target to $235 from $265, also with a Buy rating, and does not expect a higher commercial delivery outlook.

Options traders are pricing in a post-earnings move of about 5%. That is above the roughly 4% average move BA has posted after its past four reports, which ranged from 2% to 6%.

Wall Street holds 18 Buy ratings and one Hold on Boeing. The average price target is $266.94, about 42% above the current price. The expectations cited in this report draw on Reuters reporting along with consensus data from LSEG and TipRanks.