Boeing’s $10 EPS is a lie (sort of): Q4 2025 earnings explained - 1.27.2026 (025)

Boeing just posted a massive $10.23 earnings per share, but don’t let the confetti fool you. In this episode, Susie and Miro unpack why this quarter’s “profit” is actually an optical illusion created by selling off a critical business unit. We dig into the reality behind the numbers: is Boeing actually making money, or are they just selling the silverware to pay the rent? ✈️Beyond the headline confusion, this was a pivotal quarter. The infamous "Shadow Factory" is officially dead, and cash flow has finally turned positive. But just as the commercial side recovers, new ghosts are appearing. We discuss the fresh "durability issue" found in the 777X engine that has investors sweating, and why the Defense segment is bleeding cash while the rest of the world buys fighter jets. It’s a clean slate year for Boeing, but the house might still be smoldering. 📉