Boeing Co (NYSE:BA, XETRA:BCO) shares added almost 10% on Tuesday after its CFO Jay Malave said the company’s recovery is "in full force" when speaking at the UBS Global Industrials and Transportation Conference.
Malave highlighted that Boeing plans to complete its acquisition of Spirit AeroSystems by the end of this year, despite noting that November aircraft deliveries were “a little light.”
Looking ahead, the company expects increased deliveries for both its 737 and 787 aircraft in 2026 compared with 2025. The 737 MAX 10 is anticipated to receive certification in late 2026.
On the financial side, Boeing projects a $2 billion free cash outflow for 2025 but expects to achieve low single-digit positive free cash flow in 2026.
Malave noted that a Department of Justice penalty originally scheduled for 2025 would now shift into 2026.
Boeing’s defense division is also on track to generate high single-digit margins, according to the CFO.
While Malave said a $10 billion long-term cash goal is attainable, he acknowledged the company is not yet in a position to consider returning capital to investors.
The company achieved cash-positive status in October 2025 following strong deliveries, marking its highest annual figures since 2018.
Malave said increased aircraft deliveries and improvements in the defense unit are expected to support higher cash margins through to 2030.