Boeing CEO Kelly Ortberg on Q2 results: We are seeing the uncertainty in our company narrow

Summary

Boeing CEO Kelly Ortberg discussed Q2 results highlighted by a narrower loss, positive free cash flow, and production ramp-up. He noted certification progress on 737 MAX 10 and 7 variants, stabilization of the defense business, strong demand for the 777X, and a pending China order for 200 aircraft. Ortberg expressed confidence that narrowing uncertainty and improved execution will ultimately be reflected in the stock price.

• Boeing posted a wider loss but beat on revenue and delivered surprisingly positive free cash flow.
• CEO Ortberg emphasized execution improvements and narrowing uncertainty across commercial and defense segments.
• Key certification milestones for 737 MAX 10 and 7 are progressing, with MAX 7 approval expected soon.
• The 777X certification is on track for year-end, with deliveries planned for 2027 amid strong international demand.
• China has committed to a 200-aircraft order, and contracts with individual airlines are being finalized in the coming months.
• The defense business has stabilized, exiting a period of repeated quarterly charges with new production milestones achieved.
• Ortberg expressed confidence that better performance and cash flow will lead to a better stock price.