Name: GE Aerospace (NYSE:GE) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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GE Aerospace, consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Sales of equipment	3,924)	3,602)	3,268)	3,501)	3,163)	2,842)	2,653)	3,230)	2,448)	2,175)	2,421)	7,879)	6,939)	6,688)	5,287)	9,427)	8,082)	7,603)	6,864)	6,401)	11,530)	8,298)	7,971)
Sales of services	9,361)	9,031)	8,346)	8,365)	8,143)	7,308)	6,347)	6,649)	6,495)	6,048)	5,655)	10,637)	9,565)	9,163)	8,407)	11,585)	10,356)	10,277)	9,408)	13,090)	6,283)	9,172)	8,345)
Sales of equipment and services	13,285)	12,633)	11,614)	11,866)	11,306)	10,150)	9,000)	9,879)	8,943)	8,223)	8,076)	18,516)	16,504)	15,851)	13,694)	21,012)	18,438)	17,880)	16,272)	19,491)	17,813)	17,470)	16,316)
Cost of equipment sold	(3,951)	(3,817)	(3,281)	(3,932)	(3,361)	(2,754)	(2,335)	(2,949)	(2,625)	(2,302)	(2,465)	(8,073)	(7,065)	(6,940)	(5,605)	(8,409)	(8,118)	(7,150)	(6,749)	(7,066)	(9,127)	(7,626)	(7,580)
Cost of services sold	(5,145)	(4,856)	(4,641)	(4,433)	(4,401)	(4,092)	(3,660)	(3,812)	(3,601)	(3,273)	(3,281)	(6,324)	(5,839)	(5,422)	(5,124)	(7,058)	(6,253)	(6,094)	(5,704)	(7,272)	(4,275)	(5,992)	(4,958)
Cost of equipment and services sold	(9,096)	(8,673)	(7,922)	(8,365)	(7,762)	(6,846)	(5,995)	(6,761)	(6,226)	(5,575)	(5,746)	(14,397)	(12,904)	(12,362)	(10,729)	(15,467)	(14,371)	(13,244)	(12,453)	(14,338)	(13,402)	(13,618)	(12,538)
Gross profit from sales	4,189)	3,960)	3,692)	3,501)	3,544)	3,304)	3,005)	3,118)	2,717)	2,648)	2,330)	4,119)	3,600)	3,489)	2,965)	5,545)	4,067)	4,636)	3,819)	5,153)	4,411)	3,852)	3,778)
Insurance revenue	833)	715)	778)	852)	875)	872)	934)	932)	899)	871)	879)	908)	842)	847)	792)	776)	646)	765)	767)	952)	616)	783)	755)
Selling, general and administrative expenses	(1,114)	(1,131)	(1,084)	(997)	(1,195)	(1,020)	(876)	(1,157)	(1,330)	(924)	(1,026)	(2,524)	(2,171)	(2,358)	(2,142)	(3,542)	(2,868)	(2,720)	(3,651)	(3,203)	(2,747)	(2,863)	(2,894)
Separation costs	(3)	(34)	(55)	(51)	(53)	(47)	(51)	(84)	(74)	(75)	(259)	(320)	(227)	(226)	(205)	(420)	(227)	(207)	(119)	—)	—)	—)	—)
Research and development	(458)	(460)	(440)	(447)	(415)	(359)	(359)	(385)	(331)	(300)	(270)	(550)	(471)	(455)	(431)	(790)	(686)	(696)	(641)	(705)	(627)	(604)	(561)
Operating income	3,447)	3,050)	2,891)	2,858)	2,756)	2,750)	2,653)	2,424)	1,881)	2,220)	1,654)	1,633)	1,573)	1,297)	979)	1,569)	932)	1,778)	175)	2,197)	1,653)	1,168)	1,078)
Interest and other financial charges	(231)	(215)	(230)	(250)	(225)	(158)	(210)	(224)	(251)	(248)	(263)	(296)	(286)	(267)	(269)	(417)	(390)	(394)	(406)	(426)	(462)	(488)	(500)
Debt extinguishment costs	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(465)	—)	—)	—)	(5,108)	—)	(1,416)	—)
Insurance losses, annuity benefits and other costs	(1,020)	(524)	(624)	(550)	(500)	(698)	(701)	(421)	(714)	(667)	(627)	(757)	(710)	(735)	(684)	(760)	(917)	(553)	(504)	(649)	(671)	(516)	(583)
Goodwill impairments	—)	—)	—)	—)	—)	—)	—)	—)	(251)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Non-operating benefit income (cost)	178)	177)	176)	192)	198)	197)	201)	213)	207)	205)	217)	402)	396)	402)	385)	136)	125)	134)	137)	(408)	(427)	(517)	(430)
Other income (loss)	431)	313)	(15)	601)	286)	298)	302)	301)	1,021)	(63)	1,006)	1,027)	(673)	693)	6,081)	2,173)	195)	(1,209)	73)	926)	491)	732)	673)
Income (loss) from continuing operations before income taxes	2,805)	2,801)	2,198)	2,851)	2,515)	2,389)	2,245)	2,293)	1,893)	1,447)	1,987)	2,009)	300)	1,390)	6,492)	2,236)	(55)	(244)	(525)	(3,468)	584)	(1,037)	238)
(Provision) benefit for income taxes	(385)	(406)	(252)	(389)	(344)	(389)	(283)	(397)	(198)	(125)	(243)	(420)	(139)	(332)	(271)	66)	(21)	(317)	(204)	(36)	(2)	466)	(141)
Net income (loss) from continuing operations	2,420)	2,395)	1,946)	2,462)	2,171)	2,000)	1,962)	1,896)	1,695)	1,322)	1,744)	1,589)	161)	1,058)	6,221)	2,302)	(76)	(561)	(729)	(3,504)	582)	(571)	97)
Income (loss) from discontinued operations, net of taxes	(124)	(38)	(26)	89)	(17)	21)	10)	(5)	147)	(54)	(179)	2)	174)	(1,019)	1,257)	(65)	(84)	(210)	(285)	(338)	602)	(564)	(2,895)
Net income (loss)	2,296)	2,357)	1,920)	2,551)	2,154)	2,021)	1,972)	1,891)	1,842)	1,268)	1,565)	1,591)	335)	39)	7,478)	2,237)	(160)	(771)	(1,014)	(3,842)	1,184)	(1,135)	(2,798)
Net (income) loss attributable to noncontrolling interests	(8)	13)	(16)	(10)	3)	7)	6)	8)	10)	(2)	(26)	1)	13)	(4)	28)	(15)	(5)	(19)	(28)	(2)	73)	4)	(4)
Net income (loss) attributable to the Company	2,288)	2,370)	1,904)	2,541)	2,157)	2,028)	1,978)	1,899)	1,852)	1,266)	1,539)	1,592)	348)	35)	7,506)	2,222)	(165)	(790)	(1,042)	(3,844)	1,257)	(1,131)	(2,802)
Preferred stock dividends	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1)	(90)	(58)	(146)	(97)	(73)	(67)	(52)	(56)	(52)	(57)	(72)
Net income (loss) attributable to common shareholders	2,288)	2,370)	1,904)	2,541)	2,157)	2,028)	1,978)	1,899)	1,852)	1,266)	1,539)	1,591)	258)	(23)	7,360)	2,125)	(238)	(857)	(1,094)	(3,900)	1,205)	(1,188)	(2,874)

A significant structural shift in revenue and profitability is evident beginning in the first quarter of 2024, characterized by a reduction in total sales volume but a marked increase in operational efficiency and net income stability. While total sales of equipment and services experienced a sharp decline from the 2021–2023 period, the subsequent trend from March 2024 through September 2026 shows a steady recovery and growth trajectory.

Revenue Composition and Trends: Equipment sales exhibited high volatility in the early period, peaking in September 2021 and December 2022, before dropping significantly in early 2024. However, a consistent quarter-over-quarter increase is observed from March 2024 ($2,421 million) to September 2026 ($3,924 million). Service sales have remained more resilient and grew more steadily, increasing from $5,655 million in March 2024 to $9,361 million by September 2026, indicating a growing reliance on the services segment for stable cash flow.
Profitability and Margin Expansion: Gross profit from sales has shown a consistent upward trend since March 2024, rising from $2,330 million to $4,189 million by the end of the period. This growth is mirrored in the operating income, which climbed from $1,654 million in March 2024 to $3,447 million in September 2026. This suggests a significant expansion in operating margins and improved cost control relative to revenue generation.
Operating Expense Management: A notable reduction in selling, general, and administrative (SG&A) expenses occurred in 2024, dropping from peaks of over $3,500 million in 2022 to a range between $876 million and $1,330 million in the 2024–2026 period. Additionally, separation costs, which were substantial between 2022 and 2023, gradually diminished, reaching a negligible $3 million by September 2026, further contributing to the rise in operating income.
Net Income Stability and Bottom Line: The period between 2021 and 2023 was marked by extreme volatility in net income, driven by massive debt extinguishment costs in 2021 and fluctuating results from discontinued operations. Following March 2024, net income attributable to the company stabilized and entered a growth phase, moving from $1,539 million in March 2024 to $2,288 million in September 2026. The elimination of large non-recurring charges and the stabilization of continuing operations have resulted in a much more predictable earnings profile.

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GE Aerospace (NYSE:GE)

Income StatementQuarterly Data

Income Statement
Quarterly Data