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.

GE Aerospace, consolidated income statement (quarterly data)

US$ in millions

3 months ended:	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	3,602)	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	9,031)	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	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	(3,817)	(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	(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	(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	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	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	(1,131)	(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	(34)	(55)	(51)	(53)	(47)	(51)	(84)	(74)	(75)	(259)	(320)	(227)	(226)	(205)	(420)	(227)	(207)	(119)	—)	—)	—)	—)
Research and development	(460)	(440)	(447)	(415)	(359)	(359)	(385)	(331)	(300)	(270)	(550)	(471)	(455)	(431)	(790)	(686)	(696)	(641)	(705)	(627)	(604)	(561)
Operating income	3,050)	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	(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	(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)	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)	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)
Net income (loss) from continuing operations before income taxes	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	(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	2,395)	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)
Net income (loss) from discontinued operations, net of taxes	(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)	2,357)	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	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	2,370)	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	2,370)	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)

An analysis of the financial performance indicates a significant transition in revenue composition and a marked improvement in operational profitability from 2021 through mid-2026. While total sales experienced a sharp contraction in early 2024, subsequent quarters demonstrate a steady recovery in both top-line growth and margin expansion.

Revenue Trends and Composition: A distinct shift is observed in the balance between equipment and services sales. Equipment sales peaked in 2021 and 2022, reaching a high of 11.5 billion in September 2021, before declining to a lower baseline ranging between 2.1 billion and 3.6 billion from 2024 through 2026. Conversely, services sales have maintained a more consistent presence, providing a stable revenue floor. Total combined sales of equipment and services dropped from a peak of 21.0 billion in December 2022 to 8.0 billion in March 2024, followed by a gradual recovery to 12.6 billion by June 2026.
Operational Efficiency and Expense Management: There is a clear downward trend in operating expenditures. Selling, general, and administrative expenses were significantly reduced, falling from a range of 2.7 billion to 3.6 billion in 2021-2022 to approximately 1.0 billion per quarter in the 2024-2026 period. Separation costs, which peaked at 420 million in December 2022, have steadily declined to 34 million by June 2026, suggesting the completion of structural reorganizations. Research and development spending has also normalized at a lower level compared to the 2021-2022 period.
Operating Income and Profitability: Operating income exhibits a strong and consistent growth trajectory starting in 2023. From a low of 175 million in March 2022, operating income grew to 3.05 billion by June 2026. This growth is driven by the combination of recovering gross profits and the aggressive reduction in SG&A and separation costs. Gross profit from sales, which dipped to 2.3 billion in March 2024, recovered to 3.9 billion by June 2026, indicating improved cost control over the cost of equipment and services sold.
Net Income and Non-Operating Impact: The bottom line was characterized by extreme volatility between 2021 and 2023, largely due to one-time events such as debt extinguishment costs—most notably a 5.1 billion charge in December 2021—and fluctuating results from discontinued operations. However, from March 2024 onward, net income attributable to common shareholders stabilized and trended upward, moving from 1.5 billion to 2.3 billion by June 2026. This transition reflects a shift from a period of restructuring and balance sheet cleaning to a period of sustainable earnings growth.

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GE Aerospace (NYSE:GE)

Income StatementQuarterly Data

Income Statement
Quarterly Data