Ge Aerospace · NYSE:GE
Ge Aerospace — Q3 2026 Earnings Presentation
21 slides from Ge Aerospace's earnings presentation, Oct 20, 2026
Slide 1: GE Aerospace third quarter 2026 performance
October 20, 2026 GE Aerospace third 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: 3Q'26 updates
3Q'26 updates 3Q’26 3Q'26 Another quarter of solid demand and services strength ... total orders +49%, adj. revenue* +18% and EPS* +36%, YTD raising 2026 guide across the board Orders growth +49% +49% Adjusted revenue* FLIGHT DECK driving continued output momentum … growth +18% +23% YTD commercial s
Slide 4: Driving continued output momentum
Driving continued output momentum with Delivering for customers … YTD commercial services revenue +26% and total engine deliveries +21% Problem solving with suppliers, airframers, airlines and lessors … 3Q priority supplier material input up double-digits Removing waste and leveraging AI to improve
Slide 5: Investing to meet customer needs
Investing to meet customer needs Signed an agreement to acquire Consolidated Precision Products (CPP) to Achieved significant milestones on GEK800 (F143) with Kratos including support delivery and new technology innovation. selection by U.S. Air Force as second source on JASSM. Completed the world's
Slide 6: 3Q'26 results: strong top and bottom-line growth
3Q'26 results: strong top and bottom-line growth Adjusted Operating Adjusted Free cash Orders revenue* profit* EPS* flow* $19.0B $13.3B $3.0B $2.25 $2.0B +49% y/y +18% y/y +30% y/y +36% y/y (14)% y/y Op profit margin* 22.5% FCF* conversion-a) 87% 3Q'26 YTD +49% y/y +23% y/y $8.3B, +22% y/y $6.13, +2
Slide 7: 3Q'26 adjusted EPS: operating profit driving growth
3Q'26 adjusted EPS*: operating profit* driving growth +36% y/y • Diluted share count • Adjusted ETR* 15.2%, down 24M up 20 bps • CES and DPT $0.43 • Corporate $0.12 3Q'26 YTD $4.80 $1.14 $0.11 $0.08 $6.13 +28% y/y * Non-GAAP Financial Measure Operating profit and interest impacts are tax affected 7
Slide 8: Commercial Engines & Services (CES): 3Q'26 performance
Commercial Engines & Services (CES): 3Q'26 performance Revenue Operating profit +21% y/y +21% y/y Op profit 28.0% 27.3% 27.9% margin (10)bps y/y ▪ Services: +17% … ISV-a) revenue +12% from volume ▪ Op profit: +21% ... Op profit margin (10)bps including LEAP >40% and workscope; spare parts >20% ▪ Equ
Slide 9: Defense & Propulsion Technologies (DPT): 3Q'26 performance
Defense & Propulsion Technologies (DPT): 3Q'26 performance Revenue Operating profit +7% y/y +8% y/y Op profit 13.5% 13.8% 13.7% +20bps y/y margin ▪ Defense & Systems: +5% … growth in both services ▪ Op profit: +8% … Op profit margin +20bps and equipment with engine deliveries +4% – Defense book-to-b
Slide 10: Raising 2026 guidance
Raising 2026 guidance As of October 20, 2026 2026 Guide 2026 Guide 2025 Prior Current Segment dynamics Adjusted revenue Commercial Engines & Services 21% growth* High-teens ~19-20% Adjusted revenue* $42.3B ▪ Revenue: Low 20s prior: ~20% ‒ Services: Low 20s (high end of range) Operating profit* $9.1B
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 >$3B annual R&D and GE Aerospace’s and over 2.3B flight ser
Slide 12: Q&A
- Q&A 12
Slide 13: Appendix
Appendix 14 Segment guidance 15 Additional items as of October 20, 2026 16 Orders, revenue and operating profit by segment 13
Slide 14: 2026 segment guidance
2026 segment guidance Guidance as of October 20, 2026 ($ in billions) Adjusted revenue* Operating profit* +~20% +Low 20s +Low 20s +Low 20s $10.25 - $10.35 $10.5 - $10.6 Commercial Engines & $24.3 High end of Services range Services (CES) Equipment $7.7 +~20% +Low 20s +LDD +LDD Defense & Propulsion $
Slide 15: Additional items as of October 20, 2026
Additional items as of October 20, 2026 3Q'26 3Q'26 YTD FY'26 dynamics Diluted share count 1,041M 1,047M ~1,050M in FY'26 vs 1,068M shares in FY'25 … $2.0B of share repurchases in 3Q’26 Cash balance $8.8B $8.8B $10.3B including short-term liquidity investments as of September 30, 2026 No planned deb
Slide 16: Orders, revenue and operating profit by segment
Orders, revenue and operating profit by segment ($ in millions) 3Q’26 3Q’26 YTD ORDERS Services y/y Equipment y/y Total y/y Services y/y Equipment y/y Total y/y CES $9,929 23% $5,336 235% $15,265 58% $29,341 30% $16,187 128% $45,528 54% DPT $1,805 16% $2,465 20% $4,269 18% $5,400 9% $9,181 53% $14,5
Slide 17: Non-GAAP reconciliations
Non-GAAP reconciliations 18 Third quarter adjusted revenue, costs, other income, operating profit, net income and EPS 19 Third quarter year-to-date adjusted revenue, costs, other income, operating profit, net income and EPS 20 Third quarter and year-to-date free cash flow 17
Slide 18: Third quarter adjusted revenue, costs, other income, operating profit, net income and EPS
Third quarter adjusted revenue*, costs*, other income*, operating profit*, net income* and EPS* Less: Less: Less: Less: Insurance Separation, 3Q'26 Insurance Separation, 3Q'25 and US tax restructuring Less: Other -b) Adjusted and US tax restructuring Less: Other -b) Adjusted (Dollars in millions) 3Q
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*, net income* and EPS* Less: Less: Less: Less: Insurance Separation, 3Q'26 YTD Insurance Separation, 3Q'25 YTD 3Q'26 YTD and US tax restructuring Less: Other -b) Adjusted 3Q'25 YTD and US tax restructuring Less: Ot
Slide 20: Third quarter and year-to-date free cash flow
Third quarter and year-to-date free cash flow* (Dollars in millions) 3Q'26 3Q'25 V% 3Q'26 YTD 3Q'25 YTD V% Net income (loss) (GAAP) -a) $ 2,420 $ 2,171 11 % $ 6,761 $ 6,133 10 % Depreciation & amortization -b) 336 302 960 913 Operating working capital (1,538) (441) (1,840) (910) Current receivables
Slide 21: Upcoming calendar
Upcoming calendar 4Q'26 Earnings January 21, 2027 1Q'27 Earnings April 20, 2027 2Q'27 Earnings July 15, 2027 3Q'27 Earnings October 19, 2027 21