We're upgrading our rating on Boeing as CEO Ortberg's turnaround bears fruit

Boeing posted encouraging second-quarter results on Tuesday, strengthening the case for its ongoing turnaround under CEO Kelly Ortberg. Revenue rose 8% year over year to $24.56 billion, slightly above the $24.25 billion consensus, according to LSEG. Adjusted earnings per share showed a loss of 76 cents, worse than the 30-cent loss expected. Free cash flow improved to $631 million versus a $177 million cash burn forecast. Shares rose more than 4% later in the morning. The article links the stock’s 2026 volatility to fuel-price swings amid the Iran war that began Feb. 28. It also notes Boeing’s fixed-price contract for two new Air Force One jets has faced delays and cost pressure. A separate investment commentary upgraded Boeing to a “buy-equivalent 1” with a $275 price target unchanged.