Summary
General Electric Company (GE Aerospace) reported robust revenue growth for the fiscal year ending December 31, 2024, with total revenue reaching $38.7 billion, an increase of 9% year-over-year. This growth was primarily driven by the Commercial Engines & Services segment, which saw a 13% increase in revenue, fueled by higher spare parts volume, improved pricing, and increased shop visit workscope. The Defense & Propulsion Technologies segment also contributed positively with a 6% revenue increase. The company generated significant free cash flow of $6.1 billion in 2024, an increase from $4.7 billion in the prior year, reflecting strong operational performance and disciplined capital allocation. GE Aerospace also announced a new $15 billion share repurchase authorization, underscoring its commitment to returning capital to shareholders. Despite supply chain constraints impacting new engine deliveries, the company's extensive remaining performance obligation of $171.6 billion highlights strong future demand across its business segments.
Financial Highlights
48 data points| Revenue | $38.70B |
| R&D Expenses | $1.29B |
| SG&A Expenses | $4.44B |
| Operating Expenses | $33.35B |
| Operating Income | $6.67B |
| Net Income | $6.56B |
| EPS (Basic) | $6.04 |
| EPS (Diluted) | $5.99 |
| Shares Outstanding (Basic) | 1.08B |
| Shares Outstanding (Diluted) | 1.09B |
Key Highlights
- 1Total revenue increased by 9% to $38.7 billion, primarily driven by growth in the Commercial Engines & Services segment.
- 2Free cash flow reached $6.1 billion, a substantial increase from $4.7 billion in the prior year, indicating strong operational cash generation.
- 3The company announced a new $15 billion share repurchase authorization, signaling confidence and a commitment to shareholder returns.
- 4Remaining Performance Obligation (RPO) grew to $171.6 billion, demonstrating a strong backlog and robust future demand.
- 5GE Aerospace continued to invest in R&D, with total R&D expenses reaching $2.7 billion, with a significant portion allocated to sustainable flight technologies like the RISE program.
- 6The company effectively managed its debt, reducing total borrowings to $19.3 billion from $20.5 billion at the end of the previous year.
- 7Despite ongoing supply chain challenges impacting new engine deliveries, the company's services business showed resilience, contributing significantly to revenue and profit.