A $109 billion supplier telegraphing another spending step-up for 2027 is confirming that jet engine and gas…

“Our capital expenditure requirements continue to increase, and we already see the need to increase this further in 2027 to support future organic growth expectations in both the aerospace and gas turbines markets. We closed the CAM acquisition in April, and the integration is on track. Continued healthy cash generation will allow us to achieve pre-CAM leverage levels in short order, with the Company well positioned to consider all paths of capital deployment optionality going forward.

A $109 billion supplier telegraphing another spending step-up for 2027 is confirming that jet engine and gas turbine order books are booked out well past next year. The April CAM deal added leverage, but management expects to be back at pre-deal levels quickly, which puts buybacks and further M&A back on the table.