Analysis of Revenues
Revenues as Reported
GE Aerospace, income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The data exhibits annual revenue trends across three segments and total external revenue for the years ending December 31, 2020, through December 31, 2024. Notably, data for the years 2020 and 2021 are absent, so the analysis focuses on the period from 2022 to 2024.
- Commercial Engines & Services (CES)
- The CES segment demonstrates consistent growth over the three years with revenues increasing from 18,362 million US dollars in 2022 to 23,296 million in 2023, and further to 26,666 million in 2024. This represents a cumulative increase of approximately 45% over the two-year span, indicating strong expansion in this segment.
- Defense & Propulsion Technologies (DPT)
- The DPT segment shows a more modest upward trend. Revenue increases from 6,972 million US dollars in 2022 to 7,708 million in 2023, followed by a smaller increase to 8,025 million in 2024. This growth reflects a steady but less aggressive increase of about 15% over the two years.
- Corporate & Other
- This segment's revenue grows from 3,805 million US dollars in 2022 to 4,344 million in 2023, before declining to 4,011 million in 2024. The interim increase suggests growth initially, but the subsequent decrease indicates a reversal or reclassification affecting this segment’s revenue by the end of the period.
- External Revenue
- Total external revenue follows an increasing trajectory, from 29,139 million US dollars in 2022 to 35,348 million in 2023, and then to 38,702 million in 2024. This reflects a substantial growth of roughly 33% over the two years, driven primarily by the rise in the CES segment, accompanied by steady contributions from the DPT segment and fluctuations in Corporate & Other.
Overall, the growth is predominantly attributed to the Commercial Engines & Services segment, which accounts for the largest share and fastest increase in revenue. The Defense & Propulsion Technologies segment exhibits stable but slower growth, while Corporate & Other shows variability. The total external revenue growth underscores a positive overall performance trend in the recent years reported.