Earnings call analysis

General Electric (GE) Q3 2026 Earnings Call: Highlights and Analysis

GE Aerospace reported strong third-quarter results with 18% revenue growth and 36% EPS growth, prompting the company to raise its full-year 2026 guidance across the board.

Call date

Oct 20, 2026

Management tone

Positive +7

Sector

Industrials, Aerospace and Defense

Next report

Jan 21, 2027

View calendar

Key takeaways

Total company revenue increased 18% in the third quarter, with Commercial Engines & Services (CES) revenue up 21%.
Operating profit grew 30% to $3 billion, with margins expanding 220 basis points to 22.5%.
EPS increased 36% to $2.25 per share, driven by higher operating profit and a reduced share count.
Third quarter orders were up 49%, with CES orders up 58% and Defense & Propulsion Technologies (DPT) orders up 18%.
The company raised its 2026 revenue growth guidance to 19% to 20% and EPS guidance to a range of $8 to $8.10.
Commercial services growth is expected to be low double digits in 2027, supported by a backlog of over $170 billion.

Q3 2026 results

Metric	Result	Change
Revenue	18% increase	Year-over-year
Operating Profit	$3 billion	Up 30%
EPS	$2.25	Up 36%
Free Cash Flow	$2 billion	Not stated
CES Orders	Up 58%	Year-over-year

Guidance and outlook

Revenue growth: 19% to 20%
Operating profit: $10.9 billion to $11 billion
CES operating profit: $10.5 billion to $10.6 billion
DPT profit: $1.6 billion to $1.7 billion
EPS: $8 to $8.10
Free cash flow: $9.1 billion to $9.4 billion

How management sounded

Positive (+7 on our -10 to +10 scale). Management raised full-year guidance for revenue, profit, EPS, and free cash flow, citing strong year-to-date performance and visibility. Management sounded more upbeat than on 48% of the 190 calls we cover; most companies sound positive on their own calls, so the comparison says more than the label.

Q&A summary

Services Delinquency

Asked: Will delinquency impact future services orders?

Answer: Management noted that while delinquency is up slightly, strong demand and backlog give confidence in services growth, and they aim to reduce delinquency operationally.

Widebody Production

Asked: What is the status of GE9X and widebody production?

Answer: GE is delivering engines with the upgraded mid-seal and aims for FAA certification by year-end; widebody shop visit demand remains strong.

CFM56 Retirements

Asked: What is the outlook for CFM56 retirement rates?

Answer: Retirements are trending below 2% this year, and while a step up is expected in 2027, the fleet remains young with 2/3 not yet having seen a second shop visit.

2027 Outlook

Asked: What are the puts and takes for 2027?

Answer: Growth will be driven by services and DPT, with GE9X losses expected to be a $300 million headwind, though margins are expected to remain in line with 2026.

What to watch before the next call

FAA certification of the GE9X upgraded mid-seal by the end of 2026.
Supply chain progress in reducing spare parts delinquency.
Actual retirement rates for the CFM56 fleet in 2027.

More Dombey coverage of GE

GE Aerospace (GE) Stock: Why It Fell 5% Despite Raised Guidance

Frequently asked questions

Did GE Aerospace beat expectations in Q3 2026?

The company reported strong results with 18% revenue growth and 36% EPS growth, leading them to raise their full-year 2026 guidance.

What is the 2026 EPS guidance?

GE Aerospace raised its 2026 EPS guidance to a range of $8 to $8.10.

What is the outlook for 2027 services growth?

The company expects low double-digit commercial services growth in 2027, supported by a backlog of over $170 billion and fleet dynamics.

Sources and method

Dombey's summary of the General Electric Q3 2026 earnings call held Oct 20, 2026, written from the call itself. Every figure on this page was checked against what was said on the call; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.

Updated Nov 8, 2026. All earnings call analyses

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