MW Boeing is leading the stock market higher today, as next year's cash flow is looking better

By Claudia Assis

Boeing has not been cash-flow positive on a yearly basis since 2023. That's about to change.

Boeing's chief financial officer says he expects the jet maker to be cash-flow positive next year.

Boeing Co. shares cruised to their highest level in about a month as a top executive removed a crucial market worry about the jet maker.

Investors have been focused on the 2026 free-cash-flow outlook for Boeing $(BA)$ and on sluggish production for a key commercial plane, both of which have weighed on recent sentiment.

But on Tuesday, Chief Financial Officer Jay Malave said the company expects deliveries of commercial jets to grow next year and to be a "large driver" of a positive cash flow in the low single digits in 2026.

Boeing hasn't been cash-flow positive on a yearly basis since 2023, and Wall Street expects negative cash flow of about $2.5 billion for this year, according to FactSet.

Equity investors were "happy the news wasn't worse," said Matt Woodruff, an analyst with CreditSights. Debt investors, however, may have been disappointed that Malave didn't mention more debt paydowns in the near term, Woodruff said.

Boeing has about $8 billion in debt payments next year and another $3 billion after its acquisition of supplier Spirit AeroSystems closes.

The looming obligations add another layer of complexity for the jet maker, which is attempting a turnaround under its new chief executive, Kelly Ortberg, after a series of safety problems, a strike last fall and production delays.

Malave, who became CFO in August, spoke at a UBS conference on Tuesday.

The stock is on track for its highest close since Nov. 3, when it ended at $204.55, and on pace for its largest one-day percentage gain since April 9, when it rose more than 15%. It was the best performer on the Dow Jones Industrial Average DJIA and the second-best performer in the S&P 500 index SPX on Tuesday.

Boeing took a $4.9 billion loss in October associated with more delays and certification timing issues for its 777X aircraft, a project that is already years overdue, and posted wider-than-expected losses for its third quarter.

-Claudia Assis

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December 02, 2025 13:13 ET (18:13 GMT)

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