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.
GE YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
GE Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
GE Earnings Trends
GE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GE EPS Trend
Earnings per share: estimate vs actual
GE Revenue Trend
Quarterly revenue: estimate vs actual
GE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.86 | — | $12.39B | +15.66% |
| Q4 25 BEAT FY | $1.31 | $1.57 | +19.85% | $12.72B | +48.76% |
| FY Full Year | $6.24 | $6.37 | +2.16% | $45.86B | +9.90% |
| Q3 25 BEAT | $1.47 | $1.66 | +13.01% | $12.18B | +17.04% |
| Q2 25 BEAT | $1.40 | $1.66 | +18.56% | $11.02B | +15.97% |
| Q1 25 BEAT | $1.27 | $1.49 | +17.33% | $9.94B | +9.81% |