OpenNashEarnings

GE Aerospace (GE) · Aerospace

GE Aerospace Q2 2026 earnings: summary, key numbers & outlook

Results filed 16 Jul 2026 · Quarter ended 30 Jun 2026

Press release ↗Investor relations ↗

Summaries and transcripts are machine-generated and can contain errors.

In brief

GE Aerospace reported second quarter 2026 total revenue (GAAP) of $13.3B, +21%, continuing EPS (GAAP) of $2.30, +23%, adjusted EPS* $2.02, +22%, and free cash flow* $3.0B, +43%.

GE Aerospace had a strong second quarter. Total orders were $16.5B, +17%, and adjusted revenue* was $12.6B, +24%. Commercial services drove the growth: Commercial Engines & Services (CES) revenue was $9.7 billion, up 27%, with services up 26%. Adjusted EPS* was $2.02, +22%, and free cash flow* was $3.0B, +43%. Operating profit margin* fell to 21.7%, (130) bps, as engine volume, investments and inflation weighed on margins.

Management raised its full-year 2026 guidance across the board. Adjusted revenue* growth is now expected in the high-teens, operating profit* $10.55 - $10.75B, adjusted EPS* $7.65 - $7.85 and free cash flow* $8.9 - $9.2B. CES operating profit is guided to $10.25-$10.35 billion. The main tension is that growth in new engine installs, investments and inflation continue to pressure margins, while the release also cites supply chain, tariff and geopolitical risks.

Key numbers

Total revenue · GAAP
$13.3B

+21%

Net income from continuing operations · GAAP
$2.4B

Continuing EPS · GAAP
$2.30

+23%

Adjusted EPS · non-GAAP
$2.02

+22%

Operating profit · non-GAAP
$2.7B

+18%

Operating profit margin · non-GAAP
21.7%

(130) bps

Cash from operating activities · GAAP
$3.3B

+39%

Free cash flow · non-GAAP
$3.0B

+43%

Segment or metricValueChange
CES revenue$9.7 billionup 27%
CES orders$12.9 billionincreased 18%
CES operating profit$2.7 billionup 20%
DPT revenue$3.4 billiongrew 16%
DPT orders$4.1 billionup 12%
DPT operating profit$475 millionup 18%
Where each number comes from
  • Total revenue: “Total revenue (GAAP) of $13.3B, +21%; adjusted revenue* $12.6B, +24%;”
  • Net income from continuing operations: “Net income (loss) from continuing operations (GAAP) | $2,405 | $2.30 | $2,007 | $1.87”
  • Continuing EPS: “Continuing EPS (GAAP) of $2.30, +23%; adjusted EPS* $2.02, +22%;”
  • Adjusted EPS: “Continuing EPS (GAAP) of $2.30, +23%; adjusted EPS* $2.02, +22%;”
  • Operating profit: “Profit (GAAP) of $2.8B, +17%; operating profit* $2.7B, +18%;”
  • Operating profit margin: “Profit Margin (GAAP) of 21.0%, (70) bps; operating profit margin* 21.7%, (130) bps;”
  • Cash from operating activities: “Cash from operating activities (GAAP) of $3.3B, +39%; free cash flow* $3.0B, +43%”
  • Free cash flow: “Cash from operating activities (GAAP) of $3.3B, +39%; free cash flow* $3.0B, +43%”
  • CES revenue: “Revenue of $9.7 billion was up 27%. Services grew 26% with internal shop visit revenue up 25% and spare parts revenue up over 25%.”
  • CES orders: “For the quarter, orders of $12.9 billion increased 18%, with services increasing 22% and equipment increasing 7%.”
  • CES operating profit: “Profit of $2.7 billion was up 20% from higher services volume, and price. Margins contracted (160) basis points from install engine growth”
  • DPT revenue: “Revenue of $3.4 billion grew 16%. Defense & Systems revenue was up 12% with growth in both services and equipment, including deliveries up 7%.”
  • DPT orders: “For the quarter, orders of $4.1 billion were up 12%. Revenue of $3.4 billion grew 16%.”
  • DPT operating profit: “Profit of $475 million was up 18% and margins increased 30 basis points from increased volume and price, partially offset by mix”

Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.

From the filingQ2 2026vs year agovs last quarter
Revenue$13.3B+21.1%+7.7%
Net income$2.4B+16.9%+24.5%
Diluted EPS$2.26+19.6%+24.9%
Free cash flow$2.9B+49.0%+91.7%

Calculated by code from XBRL, not by the model.

Outlook

MetricPeriodOutlook
Operating profitfull-year 2026$10.55 - $10.75B
Adjusted EPSfull-year 2026$7.65 - $7.85
Free cash flowfull-year 2026$8.9 - $9.2B
CES revenue growthfull-year 2026 (CES)~20%
CES operating profitfull-year 2026 (CES)$10.25-$10.35 billion
DPT operating profitfull-year 2026 (DPT)$1.6-$1.7 billion

Key takeaways

  1. Commercial services drove the quarter

    CES revenue of $9.7 billion was up 27%, with services up 26% and internal shop visit revenue up 25%. Spare parts revenue was up over 25%.

  2. Full-year guidance raised across the board

    Adjusted EPS* guidance moved to $7.65 - $7.85 from $7.10 - $7.40, and free cash flow* to $8.9 - $9.2B from $8.0 - $8.4B. Operating profit* is now $10.55 - $10.75B.

  3. Margins contracted despite strong growth

    Operating profit margin* was 21.7%, (130) bps, and CES margin was 27.3%, (160)bps. The release cites install engine growth (including GE9X), investments and inflation.

  4. Cash generation outpaced earnings growth

    Free cash flow* of $3.0B was up 43% and cash from operating activities (GAAP) of $3.3B was up 39%, against adjusted EPS* up 22%.

  5. Engine deliveries and backlog remain strong

    Total engine deliveries increased 31% in the first half, including LEAP deliveries up 41%. Management cites a backlog of over $210 billion.

Charts

Revenue$13.3B+21.1% y/yQ2 2026
Q4 2024: $10.8BQ4 ’24$10.8BQ1 2025: $9.9BQ1 ’25$9.9BQ2 2025: $11.0BQ2 ’25$11.0BQ3 2025: $12.2BQ3 ’25$12.2BQ4 2025: $12.7B (worked out from the annual figure)Q4 ’25$12.7BQ1 2026: $12.4BQ1 ’26$12.4BQ2 2026: $13.3BQ2 ’26$13.3BQ3 2026: $14.1BQ3 ’26$14.1B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$10.8B
Q1 2025$9.9B
Q2 2025$11.0B
Q3 2025$12.2B
Q4 2025$12.7B *
Q1 2026$12.4B
Q2 2026$13.3B
Q3 2026$14.1B
Diluted EPS (GAAP)$2.26+19.6% y/yQ2 2026
Q4 2024: $1.75Q4 ’24$1.75Q1 2025: $1.83Q1 ’25$1.83Q2 2025: $1.89Q2 ’25$1.89Q3 2025: $2.02Q3 ’25$2.02Q1 2026: $1.81Q1 ’26$1.81Q2 2026: $2.26Q2 ’26$2.26Q3 2026: $2.20Q3 ’26$2.20
Data
Q4 2024$1.75
Q1 2025$1.83
Q2 2025$1.89
Q3 2025$2.02
Q1 2026$1.81
Q2 2026$2.26
Q3 2026$2.20

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Free cash flow$2.9B+49.0% y/yQ2 2026
Q4 2024: $1.0BQ4 ’24$1.0BQ1 2025: $1.3BQ1 ’25$1.3BQ2 2025: $1.9BQ2 ’25$1.9BQ3 2025: $2.2BQ3 ’25$2.2BQ4 2025: $1.9BQ4 ’25$1.9BQ1 2026: $1.5BQ1 ’26$1.5BQ2 2026: $2.9BQ2 ’26$2.9BQ3 2026: $1.8BQ3 ’26$1.8B
Data
Q4 2024$1.0B
Q1 2025$1.3B
Q2 2025$1.9B
Q3 2025$2.2B
Q4 2025$1.9B
Q1 2026$1.5B
Q2 2026$2.9B
Q3 2026$1.8B

Operating cash flow minus capital expenditure, from cash flow statements.

Questions

What were GE Aerospace's headline results for Q2 2026?

Total revenue (GAAP) was $13.3B, +21%, and adjusted revenue* was $12.6B, +24%. Continuing EPS (GAAP) was $2.30, +23%, and adjusted EPS* was $2.02, +22%.

How much cash did GE Aerospace generate in the quarter?

Cash from operating activities (GAAP) was $3.3B, +39%, and free cash flow* was $3.0B, +43%. Free cash flow* was $4,685 million for the first six months of 2026.

What is GE Aerospace's updated 2026 guidance?

The company now expects adjusted revenue* growth in the high-teens, operating profit* of $10.55 - $10.75B, adjusted EPS* of $7.65 - $7.85 and free cash flow* of $8.9 - $9.2B. Each was raised from the prior guide.

Which segment drove growth, and how did margins fare?

Commercial Engines & Services revenue was $9.7 billion, up 27%, led by services up 26%. Its operating profit margin was 27.3%, down (160) bps from install engine growth, investments and inflation.

How did the Defense & Propulsion Technologies segment perform?

DPT revenue was $3.4 billion, up 16%, and operating profit was $475 million, up 18%, with margin up 30 basis points. DPT now expects 2026 operating profit of $1.6-$1.7 billion.

Documents

SEC filing