What drove GE's earnings growth in 2024?

General Electric's (GE) earnings growth in 2024 was primarily driven by several key factors within its core business segments:

1. **Gas Power Services Growth**: The growth in Gas Power services was significant, with higher outages and favorable pricing contributing to a $0.1 billion increase in total corporate operating profit. This segment's performance was a major driver of GE's overall earnings growth.
2. **Aerospace Division Strength**: The Aerospace division of GE has been performing well, with LEAP engine deliveries and aftermarket services expected to be key drivers for growth in the coming years. The company's ability to exceed earnings expectations in this segment is a testament to its strong market position and operational efficiency.
3. **Organic Revenue Increase**: GE experienced a consistent increase in revenue over the past three years, with a 7% rise in 2024. This organic growth is a positive indicator of the company's ability to generate income from its core operations.
4. **Cost Management**: Lower functional costs and higher EHS (Environment, Health, and Safety) costs have resulted in improved operating margins. Effective cost management has been crucial in enhancing the company's profitability.

In summary, GE's 2024 earnings growth was driven by strong performance in its Gas Power services and Aerospace divisions, along with effective cost management and organic revenue increase.