What factors drove the changes in GE Aerospace's revenue and profit?

What is GE Aerospace's gross profit margin?

What does GE Aerospace do and what are its main business segments?

What were the key takeaways from GE Aerospace’s earnings call?

What is GE Aerospace's latest dividend and current dividend yield?

What were the key takeaways from GE Aerospace's earnings call?

Did GE Aerospace beat or miss consensus estimates last quarter?

What guidance did GE Aerospace's management provide for the next earnings period?

- **Record 2025 Growth**: Orders +32%, revenue +21%, free cash flow +24%; EPS +38%. 
- **2026 Outlook**: Low double-digit revenue, EPS +15%, free cash flow +15%. 
- **Strategic Moves**: CES + T&O integration, $500M MRO expansion, hybrid engine R&D. 
- **Key Risks**: GE9X losses doubling in 2026, supply chain execution. 
- **Long-Term Vision**: 2028 profit $10.25B, 2024-2028 CAGR 15%.

**【CEO Summary Section】**
- **2025 Performance Highlights**: Q4 orders up 77%, revenue +20%, EPS +19%; full year orders +32%, revenue +21%, free cash flow +15%. 
- **Segment Growth**: CES orders +35%, revenue +24%; DPT orders +19%, revenue +11%. 
- **Backlog & Strategy**: $190B backlog (up $20B YoY); FLIGHT DECK driving safety, quality, delivery improvements. 
- **2026 Outlook**: Low double-digit revenue growth, EPS $7.10-$7.40 (+15% midpoint), free cash flow $8B-$8.4B. 

**【CFO Financial Commentary】**
- **Q4 Results**: Orders +74%, revenue +20%, operating profit +14%; EPS $1.57, free cash flow $1.8B. 
- **Full Year**: Orders +32%, revenue +21%, operating profit +25% to $9.1B; free cash flow +24%. 
- **Segment Breakdown**: 
  - **CES**: Q4 revenue +24%, profit $2.3B (+5%); full year profit +26% to $8.9B. 
  - **DPT**: Q4 revenue +13%, profit +5% to $1.3B; full year profit +22%. 
- **2026 Guidance**: CES mid-teens revenue growth, DPT mid-single digits; total profit $9.85B-$10.25B. 

**【Q&A Highlights】**
- **Aftermarket Momentum**: Q4 shop visits up 27%, spare parts +25%; 2026 services growth mid-teens. 
- **LEAP Profitability**: OE profitable in 2026; 2028 internal capacity to double. 
- **Supply Chain**: 2025 supplier input +40% YoY; 2026 focus on MRO efficiency. 
- **GE9X Headwinds**: 2025 losses ~$200M, 2026 losses to double. 
- **R&D Investment**: $3B/year on durability kits, hybrid engines, defense tech. 
- **Free Cash Flow**: 2026 conversion >100%, 2028+ targeting $20B+ cash generation.

General Electric Company (GE) Q4 2025 Earnings Call Transcript

- **Record Q3 Performance:** Revenue up 26%, EPS up 44% to $1.66, free cash flow of $2.4 billion (130% conversion). Full year guidance raised across all metrics.
- **Commercial Dominance:** LEAP deliveries up 40% YoY, services revenue up 28%, with external shop visits doubling. CES profit up 35% to $2.4 billion.
- **Defense Strength:** Revenue up 26%, profit up 75%, with defense engine output up 83% YoY. DPT backlog grows to $19 billion.
- **Strategic Investments:** $1 billion in supply chain expansion, $300 million in BETA Technologies for hybrid electric propulsion. 2028 LEAP services margin target supported by durability improvements and FLIGHT DECK efficiency.

**【Management Opening Remarks】**
- GE Aerospace reported Q3 2025 revenue of $11.3 billion, up 26% YoY, driven by strong services growth and engine deliveries. 
- Operating profit reached $2.3 billion, up 26%, with EPS of $1.66, a 44% YoY increase. Free cash flow was $2.4 billion, converting 130% of net income.
- Full year guidance raised across the board: revenue growth now expected in the high teens, operating profit up $400 million to $8.65-$8.85 billion, and EPS raised to $6-$6.20.

**【CEO Commentary】**
- **Commercial Engines & Services (CES):** Services orders up 32% YoY, revenue up 28%, with internal shop visits up 33% and spare parts up 25%. LEAP deliveries up 40% YoY, exceeding prior outlook of 15-20% growth.
- **Defense & Propulsion Technologies (DPT):** Revenue up 26%, profit up 75%, with defense engine output up 83% YoY. Total DPT backlog at $19 billion, up $1.5 billion YoY.
- **FLIGHT DECK Progress:** Supplier collaboration improved output by over 2x, with priority suppliers shipping 95%+ of committed volumes. LEAP durability kit now in production, targeting 2x improvement in time on wing.

**【CFO Financial Commentary】**
- **CES Performance:** Services revenue up low-20s YoY, driven by volume, price, and mix. Segment profit up 35% to $2.4 billion, with margins expanding 170bps to 27.4%.
- **DPT Performance:** Defense revenue up 24%, additive tech up 29%. Segment profit up 75% to $386 million, with margins expanding 380bps to 13.6%.
- **Free Cash Flow:** $5.9 billion YTD, up 28%, with 115% conversion of net income. Guidance raised to $7.1-$7.3 billion for the year.

**【Q&A Highlights】**
- **Services Growth Drivers:** Improved material availability, heavier work scopes (e.g., GE90 second shop visits 60-70% heavier), and external LEAP shop visits up 2x YoY.
- **2026 Outlook:** CES revenue growth expected in low-20s, DPT in high single digits. Margins to expand through services mix and productivity gains, offset by 9X engine losses.
- **Defense Strategy:** $3 billion annual R&D investment driving next-gen propulsion (e.g., hybrid electric turbo generator with BETA Technologies). Defense book-to-bill at 1.2x YTD.
- **Supply Chain:** Priority suppliers improving yields and output, with material input up 35% YoY. LEAP spare engine ratio maintained in low double digits.

General Electric Company (GE) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: 2025 guidance raised to mid-teens, driven by commercial services (high teens) and equipment (15-20%). 2028 targets $11.5B profit, 21% margin.
- **LEAP Momentum**: Installed base to triple by 2030, services profit to match CFM56 via external shop visits (30%), repairs, and durability kits.
- **Defense Expansion**: U.S. sixth-gen fighter funding and European localization (Avio Aero) support mid-single-digit DPT growth.
- **Cash Return**: $24B shareholder returns (2024-26) with 70%+ free cash flow return post-2026.
- **Risks**: Tariffs ($500M 2025) offset by pricing, supply chain stability improving but tight.

**【CEO Summary Section】**
- **Market Leadership**: GE Aerospace powers 75% of narrow-body flights and 50% of wide-body departures, with a $175 billion backlog. Services account for 70% of revenue, driven by 49,000 commercial engines and 29,000 defense engines in service.
- **Safety & Operations**: Emphasizes SMS and AI tools for predictive safety. FLIGHT DECK model improved MRO turnaround times (e.g., 30% reduction at Celma, Brazil) and delivered 45% engine deliveries YoY growth.
- **Future Growth**: $140 billion commercial services backlog supports mid-single-digit CAGR through 2028. Investments in AI, MRO expansion (40% capacity by 2030), and R&D ($3B in 2025) drive innovation in open fan engines (RISE) and defense propulsion.
- **Outlook**: 2028 targets include $11.5B operating profit (21% margin), $8.5B free cash flow, and 50% services profit growth, fueled by LEAP tripling and GEnx doubling in installed base.

**【CFO Financial Commentary】**
- **Q2 2025 Results**: Revenue $10.1B (+23%), profit $2.3B (+23%), EPS $1.66 (+38%), free cash flow $2.1B. CES services revenue +29%, DPT revenue +7%.
- **Guidance Update**: 2025 revenue growth raised to mid-teens (low double digits prior), operating profit $8.2-8.5B (+$350M midpoint), EPS $5.60-5.80. 2028 outlook: $11.5B profit, $8.5B free cash flow, 100% conversion.
- **Drivers**: Commercial services growth (high teens), defense mid-single digits, pricing offsetting inflation, FLIGHT DECK productivity (+2% annually).
- **Risks**: Tariffs ($500M impact in 2025) partially offset by pricing and cost controls.

**【Q&A Key Highlights】**
- **Second Half EBIT Concerns**: CFO explains second half headwinds (GE9X losses, spare engine ratio normalization) but maintains full-year profit growth guidance. 2025 profit increase driven by services volume and pricing.
- **LEAP Aftermarket Profitability**: LEAP services profit to match CFM56 by 2030 via external shop visits (30% by 2030), repairs (200+ new in 2025), and durability kits reducing turnaround times.
- **Supply Chain Progress**: 95% supplier delivery accuracy, 10% sequential material input growth. Focus on reducing work-in-progress and pull-based systems to improve inventory turns.
- **Defense Growth**: Europe localization efforts (Avio Aero in Italy) and U.S. funding for sixth-gen fighters ($1B+ in reconciliation) support DPT's 6-7% revenue growth.
- **Tariff Mitigation**: Pricing actions and operational improvements offset $500M tariff impact, maintaining free cash flow targets.


General Electric Company (GE) Q2 2025 Earnings Call Transcript

- **Q1 2025 Strong Start**: 11% revenue growth, 38% profit rise, $1.4B FCF, and EPS of $1.49 (60% YoY). Services drive 35% profit growth in CES.
- **Tariff Mitigation**: $500M annualized cost offset via pricing, cost controls, and trade programs. 2025 departure growth expected at low single digits.
- **LEAP Expansion**: External shop visits +60% Q1, targeting 15-20% OE deliveries. Advanced engine programs (XA102, T901) on track for 2025 milestones.
- **Defense Strength**: $5B F110 contract, T901 ground tests complete, and $3B annual R&D investment in future tech.


**【CEO Opening Remarks】**
- Q1 2025 revenue grew 11% YoY, driven by 17% services revenue and 31% orders in Commercial Engines & Services (CES). Profit rose 38% to $2.1B, with EPS of $1.49 (60% YoY increase). Free cash flow was $1.4B.
- Tariffs in China add $500M annualized cost, partially offset by price increases and cost controls. 2025 departure growth expected at low single digits due to macro uncertainty.
- $1B U.S. manufacturing investment and 5,000 new hires to support domestic production, advocating for zero-tariff aviation trade.

**【CFO Financial Highlights】**
- CES: Orders +15% (services +31%), revenue +14% (spares +20%). Profit +35% to $1.9B, margin 27.5% (420bp expansion). DPT: Defense units +5%, profit +16% to $200M, margin 12.7% (160bp improvement).
- Full-year guidance maintained: low double-digit revenue growth, profit $7.8-8.2B, EPS $5.10-5.45, FCF $6.3-6.8B. Includes $500M tariff impact offset by SG&A savings and pricing.
- 2025 R&D spend maintained at $3B, with focus on advanced propulsion (XA102, T901) and LEAP aftermarket expansion.

**【Key Q&A Takeaways】**
- **Tariff Strategy**: $500M annualized cost offset via price surcharges, duty drawback utilization, and FTZ expansion. No pre-buy activity in Q1, but spare parts backlog remains strong.
- **LEAP Growth**: External shop visits +60% Q1, targeting 15-20% OE deliveries in 2025. HPT blade simplification supports higher output.
- **Cash Deployment**: $8B+ annual shareholder returns (dividends + buybacks) maintained, with $3B remaining buyback authorization.
- **Defense Momentum**: $5B U.S. Air Force contract for F110 engines, T901 ground tests completed, XA102 detailed design review achieved.


General Electric (GE)-22 Apr 25-2025 Q1 Earnings call transcript

- **Record 2024 Performance**: Revenue +10%, profit +30%, free cash flow +30%. Q4 EPS doubles to $1.32.
- **LEAP Growth Driver**: 4,600+ engine orders, 2025 deliveries +15-20%. Aftermarket revenue up 12% in Q4.
- **Supply Chain Turnaround**: Material inputs +26% in 2H2024, supplier compliance >90%. 550+ employees embedded in supply chain.
- **2025 Guidance**: Profit +10% ($7.8-8.2B), EPS +15% ($5.10-5.45). Free cash flow $6.3-6.8B.
- **Strategic Focus**: Share buybacks ($7B) and dividend hike (30%). No major M&A beyond small tuck-ins.

**【CEO Summary Section】**
- **2024 Financial Highlights**: Revenue up 10%, profit up $1.7 billion, free cash flow up $1.3 billion. Q4 revenue grew 16%, profit up 49%, EPS doubled.
- **LEAP Engine Momentum**: 4,600+ engine orders, including 85 Boeing 737 MAX from American Airlines. LEAP-1A HPT durability kit certified, increasing time on wing by 2x.
- **Supply Chain Progress**: Material inputs up 26% in 2H2024, supplier compliance >90%. 550+ employees embedded in supply base to drive improvements.
- **2025 Outlook**: Low double-digit revenue growth, profit $7.8-8.2 billion (+10% midpoint), EPS $5.10-5.45 (+15%). Free cash flow $6.3-6.8 billion.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: Orders up 46%, revenue +16%, profit $2 billion (+49%). Margins expanded 450bps to 20.1%. Free cash flow $1.5 billion (+21%).
- **CES Segment**: Orders +50%, revenue +19%, profit $2.2 billion (+44%). Services revenue up 12% (spares +38%, shop visits +20%).
- **DPT Segment**: Orders +22%, revenue +4%, profit $1.1 billion (+17%). Defense units up 20% QoQ.
- **2025 Guidance**: CES profit $7.6-7.9 billion (+15-18%), DPT profit $1.1-1.3 billion. Free cash flow conversion >100%.

**【Q&A Key Takeaways】**
- **LEAP OE Profitability**: Breakeven in 2025, OE profitable in 2026. 2025 shop visits external share 15%, spare engine ratio to decline.
- **Supply Chain Challenges**: 15 critical suppliers still constraining output. Sequential improvements in 2024, but no step function change expected.
- **9X Engine Progress**: 1,000+ engines in backlog, flight testing resumes. 2,500+ test cycles completed, HPT blade durability enhanced.
- **M&A Strategy**: Focus on small tuck-ins like North Star Aerospace. No major diversification beyond propulsion.


Actual																0.2489	-0.7468	0.2987	0.3983	0.1494	0.2489	0.3547	0.5726	0.1494	0.4854	0.2178	0.9889	0.2153	0.5423	0.654	0.8215	0.82	1.2	1.15	1.32	1.49	1.66	1.66	1.57
Forecast																0.3967	-0.5007	-0.2023	0.4301	0.0669	0.1622	0.2662	0.5265	0.1135	0.2327	0.2953	0.919	0.1095	0.369	0.4624	0.7108	0.7106	0.9856	1.1345	1.0414	1.2739	1.4316	1.4629	1.4482	1.5852
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-37.26%	-49.15%	+247.65%	-7.39%	+123.32%	+53.45%	+33.25%	+8.76%	+31.63%	+108.59%	-26.24%	+7.61%	+96.62%	+46.96%	+41.44%	+15.57%	+15.40%	+21.75%	+1.37%	+26.75%	+16.96%	+15.95%	+13.47%	+8.41%	0.00%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	20.52B	17.75B	19.42B	21.93B	17.12B	16.92B	18.43B	20.30B	16.27B	17.88B	18.44B	21.01B	13.70B	15.85B	16.50B	18.51B	15.17B	8.22B	8.94B	9.88B	9.00B	10.15B	11.30B	11.87B	--
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	20.38B	16.86B	18.73B	21.75B	17.59B	18.14B	19.29B	21.31B	16.89B	17.36B	18.40B	21.21B	13.10B	14.76B	15.46B	17.27B	15.25B	8.46B	9.02B	9.49B	9.04B	9.55B	10.39B	11.21B	10.64B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+0.73%	+5.28%	+3.64%	+0.82%	-2.66%	-6.76%	-4.48%	-4.71%	-3.68%	+3.02%	+0.18%	-0.94%	+4.58%	+7.38%	+6.77%	+7.22%	-0.50%	-2.82%	-0.88%	+4.13%	-0.43%	+6.31%	+8.86%	+5.92%	0.00%

GE

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GE Q1 2026 Earnings Preview

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GE

GE fundamentals

GE Q1 2026 Earnings Preview

Earnings Call

GE Earnings Call Summary for Q1/2026Upcoming7:30 AM on Apr 21, 2026

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GE Earnings Call Summary for Q2/20257:30 AM on Jul 17, 2025

GE Earnings Call Summary for Q1/20257:30 AM on Apr 22, 2025

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