GE Aerospace (GE) reported Tuesday a strong first-quarter performance with orders growing 87 percent and revenue rising 29 percent supporting double-digit growth in earnings. The company said its young and diverse fleet coupled with a $170 billion commercial services backlog positions it well to navigate the current operating environment. The company also maintained its revenue and adjusted earnings guidance for the full-year 2026.
In Tuesday's pre-market trading, GE is trading on the Nasdaq at $43.75, down $1.06 or 2.37 percent.
For the first quarter, net income from continuing operations were nearly flat at $1.95 billion or $1.83 per share, compared to $1.96 billion or $1.83 per share a year ago.
Net income attributable to common shareholders was $1.90 billion or $1.81 per share, up from $1.98 billion or $1.83 per share last year.
Excluding one-time items, adjusted net income or the quarter was $1.96 billion or $1.86 per share, compared to $1.60 billion or $1.49 per share in the prior-year quarter. Total revenue for the quarter grew 25 percent to $12.39 billion from $9.94 billion in the same quarter last year. Adjusted revenue was $11.61 billion, up 29 percent from $9.00 billion last year.
Total orders during the quarter surged 87 percent to $23 billion from last year.
Commercial Engines & Services (CES) segment revenues increased 34 percent to $8.92 billion from last year, with services revenue growing 39 percent and total engine deliveries increasing 43 percent.
CES continues to expect revenue growth of mid-teens in 2026, driven by mid-teens services revenue growth, and equipment revenue growth of mid- to high-teens.
Defense & Propulsion Technologies (DPT) segment revenues improved 19 percent to $3.21 billion from a year ago, with Defense & Systems revenue growing 14 percent and propulsion & Additive Technologies revenue rising 29 percent.
DPT continues to expect revenue growth of mid- to high-single-digit, and operating profit in a range of $1.55 billion to $1.65 billion in 2026.
Looking ahead to fiscal 2026, the company continues to expect adjusted earnings in the range of $7.10 to $7.40 per share on adjusted revenue growth in the low double digit percentage, but now trending toward the higher-end of the range.
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