Ge Aerospace · NYSE:GE
Ge Aerospace — Q3 2025 Earnings Presentation
21 slides from Ge Aerospace's earnings presentation, Oct 31, 2025
Slide 1: GE Aerospace third quarter 2025 performance
GE Aerospace third quarter 2025 performance Financial results & company highlights October 21, 2025
Slide 2: Caution concerning forward-looking statements
Caution concerning forward-looking statements: This document contains "forward-looking statements" – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results
Slide 3: Delivering value to customers and shareholders
Delivering value to customers and shareholders Exceptional 3Q and year-to-date results with strong growth across key metrics Demand remains robust with FLIGHT DECK accelerating delivery Customer-driven approach to LEAP durability and future of flight drives growth 3
Slide 4: 3Q'25 highlights
3Q’25 highlights GE Aerospace +2% Adj. revenue* +26% with strong services and engine output, driving Orders growth adj. EPS* +44% and FCF* +30% y/y … raising FY'25 guide across the board +26% Adjusted revenue growth* Commercial Engines & Services (CES) Robust services performance with orders +32% an
Slide 5: Accelerating services and equipment output with priority suppliers
Accelerating services and equipment output with Priority suppliers material input ... .... … supporting significant output growth Commercial services revenue Engine deliveries >35% y/y +28% y/y +41%y/y ▪ Kaizen with priority supplier delivering material input up ▪ Internal shop visit revenue +33%, s
Slide 6: Customer-driven approach to services and products
Customer-driven approach to services and products Advancing durability across successive engine programs with the 2nd dust Secured an engine and servicing commitment with Korean Air for GEnx, ingestion test for GE9X and first for RISE (pictured) underway. GE9X and LEAP engines to power 103 Boeing 78
Slide 7: 3Q'25 results: significant top and bottom line growth
3Q'25 results: significant top and bottom line growth Adjusted Operating Adjusted Free cash Orders revenue* profit* EPS* flow* $12.8B $11.3B $2.3B $1.66 $2.4B +2% y/y +26% y/y +26% y/y +44% y/y +30% y/y Op profit margin* 20.3% 3Q'25 YTD +13% y/y +21% y/y $6.8B, +29% y/y $4.80, +46% y/y $5.9B, +27% y
Slide 8: 3Q'25 results: growing adjusted earnings per share
3Q'25 results: growing adjusted earnings per share* +44% y/y • Diluted share count • Adjusted ETR* down ~30M 15.0% vs 20.3% • Lower interest expense • CES and DPT $0.58 • Corporate $(0.23) 3Q'25 YTD $3.28 $1.10 $0.19 $0.23 $4.80 +46% y/y * Non-GAAP Financial Measure Operating profit and interest imp
Slide 9: Commercial Engines & Services (CES): 3Q'25 performance
Commercial Engines & Services (CES): 3Q'25 performance Revenue Operating profit +27% y/y +35% y/y Op profit 25.7% 27.9% 27.4% +170bps y/y margin ▪ Services: +28% … internal shop visit revenue +33% from ▪ Op profit: +35% ... Op profit margin +170bps volume, workscopes and price; spare parts >25% ▪ Se
Slide 10: Defense & Propulsion Technologies (DPT): 3Q'25 performance
Defense & Propulsion Technologies (DPT): 3Q'25 performance Revenue Operating profit +26% y/y +75% y/y Op profit 9.8% 14.1% 13.6% +380bps y/y margin ▪ Defense & Systems: +24% … Defense units +83% and ▪ Op profit: +75% … Op profit margin +380bps price – Defense book-to-bill 1.1x x ▪ Volume, customer m
Slide 11: Raising 2025 guidance across the board
Raising 2025 guidance across the board 2025 Guide 2025 Guide 2024 Prior Current Segment dynamics Adjusted revenue Commercial Engines & Services growth* +10% +Mid-teens +High-teens Adjusted revenue* $35.1B ▪ Revenue: Low 20s (prior: high-teens) ‒ Services: Low/mid 20s (prior: high-teens) Operating pr
Slide 12: GE Aerospace: Climbing higher
GE Aerospace: Climbing higher Most Extensive Highest Operational Customer Preferred Breakthrough Installed Base Reliability Platforms Innovation Fleet of 78K engines and Unrivaled customer Best performing products ~$3B annual R&D and GE Aerospace’s over 2.3B flight hours service and proven underwing
Slide 13: Q&A
~ Q&A 13
Slide 14: Appendix
Appendix 15 2025 additional items 16 Orders and revenue 14
Slide 15: Additional items as of October 21, 2025
Additional items as of October 21, 2025 3Q'25 3Q'25 FY'25 dynamics YTD Corporate cost*-a) $(523)M $(850)M ~$(1.0)B in FY'25 Share buy-back $1.8B $5.4B ~$7B in FY’25 Diluted share count 1,065M 1,071M ~1,070M in FY'25 Dividend paid $0.4B $1.1B Dividend +30% y/y in FY'25 Cash balance $12.5B - NA Total
Slide 16: Orders and revenue - supplemental information
Orders and revenue - supplemental information ($ in billions) Services Equipment Total ORDERS 3Q'25 3Q'25 3Q'25 3Q'25 y/y YTD y/y 3Q'25 y/y YTD y/y 3Q'25 y/y YTD y/y Commercial Engines & $8.2 32% $23.3 31% $2.1 (42)% $8.3 (12)% 5% $31.6 16% Services $10.3 Defense & Propulsion $1.5 Technologies $1.4
Slide 17: Non-GAAP reconciliations
Non-GAAP reconciliations 18 Third quarter adjusted revenue*, costs*, other income*, operating profit* and adjusted net income* 19 Third quarter year-to-date adjusted revenue*, costs*, other income*, operating profit* and adjusted net income* 20 Third quarter free cash flow 17
Slide 18: Third quarter adjusted revenue, costs, other income, operating profit, adjusted net income and EPS
Third quarter adjusted revenue*, costs*, other income*, operating profit*, adjusted net income* and EPS* Less: Less: Less: Less: Insurance Separation, 3Q'25 Insurance Separation, 3Q'24 and US tax restructuring Less: Other-b) Adjusted and US tax restructuring Less: Other-b) Adjusted (Dollars in milli
Slide 19: Third quarter year-to-date adjusted revenue, costs, other income, operating profit, net income and EPS
Third quarter year-to-date adjusted revenue*, costs*, other income*, operating profit*, adjusted net income* and EPS* Less: Less: Less: Less: Insurance Separation, 3Q'25 YTD Insurance Separation, 3Q'24 YTD 3Q'25 YTD and US tax restructuring Less: Other-b) Adjusted 3Q'24 YTD and US tax restructuring
Slide 20: Third quarter free cash flow
Third quarter free cash flow* (Dollars in millions) 3Q'25 3Q'24 V% 3Q'25 YTD 3Q'24 YTD V% Net income (loss) (GAAP) -a) $ 2,171 $ 1,695 28 % $ 6,133 $ 4,760 29 % Depreciation & amortization -b) 302 314 913 887 Operating working capital (441) (580) (910) (572) Current receivables (113) (702) (1,270) (
Slide 21: Upcoming calendar
Upcoming calendar 4Q'25 Earnings January 22, 2026 1Q'26 Earnings April 21, 2026 2Q'26 Earnings July 16, 2026 21