Ge Aerospace · NYSE:GE
Ge Aerospace — Q2 2026 Earnings Presentation
21 slides from Ge Aerospace's earnings presentation, Jul 16, 2026
Slide 1: GE Aerospace second quarter 2026 performance
July 16, 2026 GE Aerospace second quarter 2026 performance Financial results & company highlights
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: 2Q'26 and 1H'26 updates
2Q'26 and 1H'26 updates Strong 2Q with adj. revenue* and EPS* both up >20% 2Q’26 1H'26 underpinned by robust services growth … exceptional 1H results, raising guidance across the board Orders growth +17% +49% Adjusted revenue* growth +24% +27% FLIGHT DECK driving operational improvements 1H commerci
Slide 4: Fueling significant output growth across services and equipment
fueling significant output growth across services and equipment Problem solving with suppliers, airframers, airlines and lessors … 2Q priority supplier material input up double-digits Removing waste and leveraging AI to improve output ... shop turnaround times down ~1 week Key component since end of
Slide 5: Well-positioned to deliver >$210B backlog
Well-positioned to deliver >$210B backlog Completed certification of LEAP- Secured a contract with U.S. 1B durability kit and reduced Air Force to complete LEAP turnaround times over two preliminary design review for weeks y/y… nearly zero engine- medium thrust Autonomous driven grounded aircraft. C
Slide 6: 2Q'26 results: >20% adjusted revenue and EPS growth
2Q'26 results: >20% adjusted revenue* and EPS* growth Adjusted Operating Adjusted Free cash Orders revenue* profit* EPS* flow* $16.5B $12.6B $2.7B $2.02 $3.0B +17% y/y +24%y/y +18%y/y +22%y/y +43% y/y Op profit margin* 21.7% FCF* conversion-a) 143% 1H'26 +49% y/y +27% y/y $5.3B, +18% y/y $3.88, +24%
Slide 7: 2Q'26 adjusted EPS: growth driven by segment profit
2Q'26 adjusted EPS*: growth driven by segment profit +22% y/y • Adjusted ETR* • Diluted share count 16.7%, down 2pts down 24M • CES and DPT $0.39 • Corporate $(0.08) 1H'26 $3.14 $0.60 $0.11 $0.02 $3.88 +24% y/y * Non-GAAP Financial Measure Operating profit and interest impacts are tax affected 7
Slide 8: Commercial Engines & Services: 2Q'26 performance
Commercial Engines & Services (CES): 2Q'26 performance Revenue Operating profit +27% y/y +20% y/y Op profit 28.9% 26.4% 27.3% (160)bps y/y margin ▪ Services: +26% … ISV-a) revenue +25% from volume, ▪ Op profit: +20% ... Op profit margin (160)bps including LEAP >50%, and widebody mix; spare parts >25
Slide 9: Defense & Propulsion Technologies: 2Q'26 performance
Defense & Propulsion Technologies (DPT): 2Q'26 performance Revenue Operating profit +16% y/y +18% y/y Op profit 13.5% 11.8% 13.8% +30bps y/y margin ▪ Defense & Systems: +12% … growth in both services ▪ Op profit: +18% … Op profit margin +30bps and equipment with units +7% – Defense book-to-bill 1.0x
Slide 10: 2026 guidance
2026 guidance 2026 Guide 2026 Guide 2025 Prior Current Segment dynamics Adjusted revenue Commercial Engines & Services 21% LDD growth* High-teens Adjusted revenue* $42.3B ▪ Revenue: ~20% (prior: Mid-teens) ‒ Services: Low 20s (prior: Mid-teens) Operating profit* $9.1B $9.85-$10.25B $10.55-$10.75B Op
Slide 11: GE Aerospace: advancing propulsion today, tomorrow and in the future
GE Aerospace: advancing propulsion today, tomorrow and in the future Highest Customer Most Extensive Breakthrough Operational Preferred Installed Base Innovation Reliability Platforms Fleet of ~80K engines Unrivaled customer Best performing ~$3B annual R&D and GE Aerospace’s and over 2.3B flight ser
Slide 12: Q&A
- Q&A 12
Slide 13: Appendix
Appendix 14 2026 segment guidance 15 Additional items as of July 16, 2026 16 Orders, revenue and operating profit by segment 13
Slide 14: FY'26 segment guidance
FY'26 segment guidance Guidance as of July 16, 2026 ($ in billions) Adjusted revenue* Operating profit* +Mid-teens +~20% $9.6 - $9.9 $10.25 - $10.35 Commercial Engines & $24.3 +Mid-teens +Low 20s Services Services (CES) Equipment $7.7 +Mid/high-teens +~20% +MSD/HSD +LDD Defense & Propulsion $1.55 -
Slide 15: Additional items as of July 16, 2026
Additional items as of July 16, 2026 2Q'26 1H'26 FY'26 dynamics Diluted share count 1,047M 1,050M ~1,050M shares in FY'26 … $2.0B of share repurchases in 2Q’26 Cash balance $9.3B $9.3B $10.3B including short-term liquidity investments as of June 30, 2026 Total borrowings $19.2B $19.2B No planned deb
Slide 16: Orders, revenue and operating profit by segment
Orders, revenue and operating profit by segment ($ in millions) 2Q’26 1H’26 ORDERS Services y/y Equipment y/y Total y/y Services y/y Equipment y/y Total y/y CES $9,635 22% $3,297 7% $12,932 18% $19,412 34% $10,851 98% $30,263 52% DPT $1,782 12% $2,356 13% $4,138 12% $3,596 5% $6,716 70% $10,312 40%
Slide 17: Non-GAAP reconciliations
Non-GAAP reconciliations 18 Second quarter adjusted revenue, costs, other income, operating profit, net income and EPS 19 Second quarter year-to-date adjusted revenue, costs, other income, operating profit, net income and EPS 20 Second quarter and year-to-date free cash flow 17
Slide 18: Second quarter adjusted revenue, costs, other income, operating profit, net income and EPS
Second quarter adjusted revenue*, costs*, other income*, operating profit*, net income* and EPS* Less: Less: Less: Less: Insurance Separation, 2Q'26 Insurance Separation, 2Q'25 and US tax restructuring Less: Other Adjusted and US tax restructuring Less: Other Adjusted (Dollars in millions) 2Q'26 GAA
Slide 19: Second quarter year-to-date adjusted revenue, costs, other income, operating profit, net income and EPS
Second quarter year-to-date adjusted revenue*, costs*, other income*, operating profit*, net income* and EPS* Less: Less: Less: Less: Insurance Separation, 2Q'26 YTD Insurance Separation, 2Q'25 YTD 2Q'26 YTD and US tax restructuring Less: Other Adjusted 2Q'25 YTD and US tax restructuring Less: Other
Slide 20: Second quarter and year-to-date free cash flow
Second quarter and year-to-date free cash flow* (Dollars in millions) 2Q'26 2Q'25 V% 2Q'26 YTD 2Q'25 YTD V% Net income (loss) (GAAP) -a) $ 2,395 $ 2,000 20 % $ 4,341 $ 3,962 10 % Depreciation & amortization -b) 312 312 624 611 Operating working capital 241 (572) (302) (469) Current receivables 15 (8
Slide 21: Upcoming calendar
Upcoming calendar 3Q'26 Earnings October 20, 2026 4Q'26 Earnings January 21, 2027 21