GE Aerospace Earnings Call Transcripts
Fiscal Year 2026
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The business is experiencing robust growth in both commercial and defense sectors, driven by a large installed base, strong backlog, and ongoing investment in technology. Operational improvements and supply chain collaboration are supporting record engine deliveries and aftermarket expansion, with double-digit growth expected through 2027.
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The meeting highlighted strong financial growth, robust order backlog, and ongoing investments in R&D and manufacturing. All management proposals passed with overwhelming support, while a shareholder proposal on defense-related product due diligence was rejected. Strategic priorities include reinvestment, shareholder returns, and global expansion.
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Orders and revenue surged in Q1 2026, with strong growth in both commercial and defense segments. Despite macro uncertainty and supply chain constraints, guidance is maintained at the high end, supported by a robust backlog and continued investment in capacity and technology.
Fiscal Year 2025
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Strong 2025 results with double-digit growth in orders, revenue, and profit, driven by robust demand and operational improvements. 2026 guidance calls for continued revenue, EPS, and cash flow growth, supported by a $190B backlog and expanding aftermarket services.
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Strong growth in services and defense segments is driven by a large engine install base, robust backlog, and operational improvements. LEAP engine performance and profitability are improving, while supply chain transparency and investments in new technologies support sustained momentum through 2028.
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Q3 saw 26% revenue and profit growth, 44% EPS increase, and strong free cash flow, driven by robust demand and operational improvements. Full-year guidance was raised across all metrics, with continued momentum expected into 2026.
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Q2 2025 saw revenue up 23% and profit up 23%, with strong CES and DPT growth. Guidance for 2025 and 2028 was raised across all key metrics, supported by robust backlog, operational improvements, and resilient market demand.
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The event highlighted strong momentum in commercial and defense segments, with record orders, robust service revenue, and operational improvements driven by FlightDeck. Technology investments focus on next-gen engines and sustainability, while supply chain and margin management remain key priorities.
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The meeting highlighted strong 2024 financial results, major investments in R&D and U.S. manufacturing, and strategic supply chain improvements. All board nominees and management proposals passed, while a shareholder proposal on severance was rejected.
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Q1 2025 saw double-digit growth in orders, revenue, and profit, with strong performance in both commercial and defense segments. Despite tariff headwinds and macro uncertainty, guidance for the year is maintained, supported by a robust backlog and ongoing cost and pricing actions.
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Strong demand and operational execution drove significant profit and cash growth, with robust order backlogs and continued investment in technology and supply chain improvements. Guidance for 2025 remains positive, with ongoing shareholder returns and a focus on long-term growth targets.
Fiscal Year 2024
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Delivered double-digit revenue and profit growth in 2024, with strong Q4 results and robust free cash flow. 2025 guidance calls for continued double-digit growth, higher EPS, and increased shareholder returns, supported by strong demand and operational improvements.
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Orders and revenue grew strongly, with operating profit up 14% and free cash flow conversion over 140%. Full-year guidance for profit, EPS, and cash was raised, supported by robust demand, margin expansion, and significant investments in MRO and technology.
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Double-digit growth in orders, profit, and cash flow was achieved despite supply chain constraints impacting engine output. Guidance for profit and cash flow was raised, with strong aftermarket services and robust demand supporting results. CES and DPT segments both delivered margin expansion and profit growth.