Strong Revenue and Profit Growth
Revenue grew 26% to $11.3 billion and profit was $2.3 billion, up 26% year-over-year. EPS increased by 44% to $1.66, with a free cash flow conversion over 130%.
Commercial Engines and Services (CES) Performance
CES orders grew 5%, with services up 32% and services revenue up 28%. Operating profit increased by 35% year-on-year.
Defense and Propulsion Technologies (DPT) Success
DPT revenue grew 26% with profit up 75%, driven by defense engine output up 83% year-over-year.
Raised Full Year Guidance
GE Aerospace raised full year guidance across the board, expecting high teens revenue growth and increased operating profit guidance to $8.65 billion to $8.85 billion.
Operational Improvements and Supply Chain Enhancements
Material input from priority suppliers grew 35% year-over-year, and internal shop visit output for LEAP engines grew by more than 30%.