Boeing reported a third-quarter net loss of $116 million, or 26 cents a share, compared with a $5.339 billion loss, or $7.14 a share, a year earlier, according to the company's earnings release¹.

Revenue rose 4% to $24.188 billion¹. Core loss per share, a non-GAAP measure Boeing uses, was 34 cents¹. CNA, citing LSEG, said that compared with a 21-cent expected loss². CNBC had published the same 21-cent LSEG figure and a $23.84 billion revenue estimate before results³.

Free cash flow was $464 million, up from $238 million a year earlier; operating cash flow was $1.496 billion¹. CNA said net debt ended the quarter at $25.2 billion, down from $25.9 billion in the prior quarter and $30.4 billion a year earlier². Boeing listed $20.7 billion in cash and marketable securities and $45.9 billion of consolidated debt¹.

Commercial airplanes remained the drag. The unit posted $10.720 billion in revenue, down 3%, a $697 million operating loss and a 6.5% negative operating margin, versus a 48.3% negative margin a year earlier when results included a 777X charge^1,2. Boeing said the mix of deliveries was less favorable and that projected costs from future production-rate changes and supply-chain estimates were higher¹. It delivered 161 commercial airplanes, versus 160 a year earlier¹.

On 737 output, Boeing said the program is progressing toward stabilized production of 47 jets a month¹. CNBC, writing before the release, said the company has been producing about 47 737 Max planes a month and is aiming for more³. CNA said Boeing has struggled to raise 737 output from 42 jets a month to 47, a level it had hoped to reach during the summer, citing Ortberg comments from a September conference².

Defense, Space & Security revenue rose 15% to $7.935 billion, with $492 million in operating earnings and a 6.2% margin, up from 1.7% a year earlier¹. Boeing said the margin included a $252 million gain on the sale of HRL Laboratories and improved operations^1,2. Global Services earned $1.019 billion on $5.574 billion of revenue, an 18.3% operating margin^1,2.

Boeing said the U.S. Navy selected it to design, build and deliver the F/A-XX fighter, an order not yet in backlog pending review, and that the 737-7 received FAA amended type certification in the quarter, with the 737-10 following in October^1,2. Backlog rose to $745 billion¹.

CNA quoted CEO Kelly Ortberg telling staff that expectations are rising and that more work remains on backlog, culture and daily performance². In the release, Ortberg said certifications and the Navy award were important steps and that the company is not done¹. CNBC said executives were due on a 10:30 a.m. ET call³. CNA said shares were marginally higher in premarket trading².