General Electric Company
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +5.49%.
Did GE Beat Earnings? Q1 2026 Results
GE Aerospace kicked off 2026 with a notably strong first quarter, posting adjusted earnings per share of $1.86 and revenue of $12.39 billion, beating Wall Street's consensus estimates of $1.60 and $10.71 billion by 16.31% and 15.66%, respectively, extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue grew 24.7% year over year, with the Commercial Engines & Services segment serving as the primary catalyst, as services revenue surged 39% and equipment unit volume climbed 50%, together driving CES revenue up 34% to $8.92 billion. Total orders nearly doubled to $23.00 billion, reflecting strong commercial engine wins with American Airlines, United Airlines, and Delta, while the defense segment added meaningful contracts including next-generation engine development for collaborative combat aircraft. Free cash flow rose 14% to $1.66 billion, underscoring the quality of earnings. Management maintained full-year 2026 guidance while signaling a trend toward the high end, with adjusted EPS targeted at $7.10 to $7.40 and free cash flow of $8.00 billion to $8.40 billion, even as updated macro assumptions account for elevated oil prices and tempered global GDP growth.
- CES services revenue up 39% with internal shop visit revenue up 35% and spare parts revenue growing more than 25%
- Total engine deliveries increased 43% year-over-year
- Equipment revenue grew 20% from unit volume up 50%, partially offset by customer mix
- Material input from priority suppliers increased by double-digits sequentially
- Total orders surged 87% to $23.0B driven by services and equipment
- DPT defense deliveries up 24%
- Propulsion & Additive Technologies revenue grew 29% led by Avio Aero
“GE Aerospace had a strong first quarter with orders growing 87% and revenue up 29% supporting double-digit growth in earnings and free cash flow. FLIGHT DECK keeps us focused on what our customers value: driving improvements in output and durability, while reducing cost of ownership and applying today's learnings to next-generation technologies.”
GE Aerospace CEO, on the earnings call
Forward Guidance & Outlook
GE Aerospace is maintaining its full-year 2026 guidance but trending toward the high end of the range given a strong first-quarter start. Full-year 2026 guidance includes: adjusted revenue growth of low-double-digits; operating profit of $9.85B–$10.25B; adjusted EPS of $7.10–$7.40; and free cash flow of $8.0B–$8.4B with FCF conversion greater than 100%. CES continues to expect mid-teens revenue growth (mid-teens services, mid- to high-teens equipment) and operating profit of $9.6B–$9.9B. DPT expects mid- to high-single-digit revenue growth and operating profit of $1.55B–$1.65B. Updated macro assumptions include elevated Brent crude oil through Q3, near-term fuel availability impacts, reduced global GDP estimates, and flat to low-single-digit departures growth, but do not assume a global recession.
GE YoY Financials
GE Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.