10-QPeriod: Q1 FY2026

GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 21, 2026For Securities:GE

Summary

General Electric Company (GE Aerospace) reported a strong first quarter for 2026, demonstrating significant revenue growth and stable net income from continuing operations. Total revenue surged by 25% year-over-year, driven by a substantial increase in both equipment and services revenue within the Commercial Engines & Services (CES) segment. The Defense & Propulsion Technologies (DPT) segment also experienced robust growth in both revenue and profit. The company's strategic focus on ramping up services and equipment, alongside investments in manufacturing and supply chain capacity, is yielding positive results. Despite ongoing supply chain challenges and inflationary pressures, GE Aerospace's operational execution, supported by its FLIGHT DECK lean operating model, has enabled consistent improvement in deliveries and aftermarket output. The company maintained a healthy liquidity position with $11.0 billion in cash, cash equivalents, and restricted cash. Shareholder returns remain a priority, with continued share repurchases executed under a new, larger authorization. Credit ratings have also seen positive developments, with Moody's upgrading GE Aerospace's long-term rating and S&P revising its outlook to positive. The company's significant Remaining Performance Obligation (RPO) of over $211 billion signals strong future revenue visibility, particularly within the services segment.

Financial Highlights

44 data points
Beta

Revenue

$12.39B

Net Income

$1.90B

15.4% Net Margin

EPS (Diluted)

$1.81

Total Assets

$128.44B

Cash & Equivalents

$10.98B

Free Cash Flow

$1.82B

Financial Statements
Beta
Revenue$12.39B
R&D Expenses$440.00M
SG&A Expenses$1.08B
Operating Expenses$10.18B
Net Income$1.90B
EPS (Basic)$1.82
EPS (Diluted)$1.81
Shares Outstanding (Basic)1.05B
Shares Outstanding (Diluted)1.05B

Key Highlights

  • 1Total revenue increased by 25% to $12.4 billion in Q1 2026 compared to Q1 2025, driven by strong performance in both equipment and services.
  • 2Net income from continuing operations attributable to common shareholders remained stable at $1.93 billion, with Adjusted EPS increasing by 25% to $1.86.
  • 3Commercial Engines & Services (CES) revenue grew 34% to $8.9 billion, with a significant increase in both equipment and services, supported by major new deals with airlines.
  • 4Defense & Propulsion Technologies (DPT) segment revenue rose 19% to $3.2 billion, with profit up 17%, driven by increased volume and price.
  • 5Remaining Performance Obligation (RPO) grew 11% to $211.3 billion, indicating robust future revenue, with the services segment holding the largest portion.
  • 6Consolidated total borrowings decreased slightly to $20.3 billion, and the company maintained strong liquidity with $11.0 billion in cash, cash equivalents, and restricted cash.
  • 7Credit ratings improved with Moody's upgrading the long-term rating to A2 and S&P revising its outlook to positive.

Frequently Asked Questions

The 25% year-over-year increase in total revenue to $12.4 billion was primarily driven by strong performance in both equipment and services. The Commercial Engines & Services (CES) segment saw a 34% revenue increase, fueled by higher engine deliveries, increased shop visit volume, and greater spare parts demand. The Defense & Propulsion Technologies (DPT) segment also contributed with a 19% revenue increase due to higher engine deliveries and pricing.

GE Aerospace is actively investing in its manufacturing facilities, overhaul capabilities, and supply chain to enhance production and delivery performance. The company is collaborating with suppliers to improve material flow and proactively managing inflationary pressures through cost productivity initiatives and pricing adjustments. Despite these challenges, aftermarket output and engine deliveries have shown sequential improvements.

The company's Remaining Performance Obligation (RPO) increased by 11% to $211.3 billion as of March 31, 2026. This indicates a strong backlog of future contracted revenue, with $179.9 billion attributed to services and $31.4 billion to equipment. This substantial RPO provides significant visibility into future revenue streams.

GE Aerospace maintained robust liquidity with $11.0 billion in cash, cash equivalents, and restricted cash. The company continues its commitment to returning capital to shareholders through dividends and share repurchases, executing a new authorization for up to $20 billion in repurchases. Furthermore, positive credit rating actions, including a Moody's upgrade and an S&P positive outlook revision, reflect the company's strengthening financial position.