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GE Aerospace

GE Q1 2026 Earnings

Reported Apr 21, 2026 at 6:29 AM ET · SEC Source

Q1 26 EPS

$1.86

Q1 26 Revenue

$12.39B

BEAT +15.66%

Est. $10.71B

vs S&P Since Q1 26

-8.2%

TRAILING MARKET

GE -5.8% vs S&P +2.4%

Market Reaction

Did GE Beat Earnings? Q1 2026 Results

GE Aerospace kicked off 2026 with a notably strong first quarter, posting adjusted earnings per share of $1.86 and revenue of $12.39 billion, beating Wall Street's consensus estimates of $1.60 and $10.71 billion by 16.31% and 15.66%, respectively, ex… Read more GE Aerospace kicked off 2026 with a notably strong first quarter, posting adjusted earnings per share of $1.86 and revenue of $12.39 billion, beating Wall Street's consensus estimates of $1.60 and $10.71 billion by 16.31% and 15.66%, respectively, extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue grew 24.7% year over year, with the Commercial Engines & Services segment serving as the primary catalyst, as services revenue surged 39% and equipment unit volume climbed 50%, together driving CES revenue up 34% to $8.92 billion. Total orders nearly doubled to $23.00 billion, reflecting strong commercial engine wins with American Airlines, United Airlines, and Delta, while the defense segment added meaningful contracts including next-generation engine development for collaborative combat aircraft. Free cash flow rose 14% to $1.66 billion, underscoring the quality of earnings. Management maintained full-year 2026 guidance while signaling a trend toward the high end, with adjusted EPS targeted at $7.10 to $7.40 and free cash flow of $8.00 billion to $8.40 billion, even as updated macro assumptions account for elevated oil prices and tempered global GDP growth.

Key Takeaways

  • • CES services revenue up 39% with internal shop visit revenue up 35% and spare parts revenue growing more than 25%
  • • Total engine deliveries increased 43% year-over-year
  • • Equipment revenue grew 20% from unit volume up 50%, partially offset by customer mix
  • • Material input from priority suppliers increased by double-digits sequentially
  • • Total orders surged 87% to $23.0B driven by services and equipment
  • • DPT defense deliveries up 24%
  • • Propulsion & Additive Technologies revenue grew 29% led by Avio Aero

GE Forward Guidance & Outlook

GE Aerospace is maintaining its full-year 2026 guidance but trending toward the high end of the range given a strong first-quarter start. Full-year 2026 guidance includes: adjusted revenue growth of low-double-digits; operating profit of $9.85B–$10.25B; adjusted EPS of $7.10–$7.40; and free cash flow of $8.0B–$8.4B with FCF conversion greater than 100%. CES continues to expect mid-teens revenue growth (mid-teens services, mid- to high-teens equipment) and operating profit of $9.6B–$9.9B. DPT expects mid- to high-single-digit revenue growth and operating profit of $1.55B–$1.65B. Updated macro assumptions include elevated Brent crude oil through Q3, near-term fuel availability impacts, reduced global GDP estimates, and flat to low-single-digit departures growth, but do not assume a global recession.

24/7 Wall St

GE YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

GE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“GE Aerospace had a strong first quarter with orders growing 87% and revenue up 29% supporting double-digit growth in earnings and free cash flow. FLIGHT DECK keeps us focused on what our customers value: driving improvements in output and durability, while reducing cost of ownership and applying today's learnings to next-generation technologies.”

— H. Lawrence Culp, Jr., Q1 2026 Earnings Press Release

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