Stock Analysis on Net

GE Aerospace (NYSE:GE)

$24.99

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

Microsoft Excel
3 months ended: 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Sales of equipment
Sales of services
Sales of equipment and services
Cost of equipment sold
Cost of services sold
Cost of equipment and services sold
Gross profit from sales
Insurance revenue
Selling, general and administrative expenses
Separation costs
Research and development
Operating income (loss)
Interest and other financial charges
Debt extinguishment costs
Insurance losses, annuity benefits and other costs
Goodwill impairments
Non-operating benefit income (cost)
Other income (loss)
Net income (loss) from continuing operations before income taxes
(Provision) benefit for income taxes
Net income (loss) from continuing operations
Net income (loss) from discontinued operations, net of taxes
Net income (loss)
Net (income) loss attributable to noncontrolling interests
Net income (loss) attributable to the Company
Preferred stock dividends
Net income (loss) attributable to common shareholders

Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Sales Trends
Sales of equipment showed considerable volatility over the analyzed periods, with a marked decline starting in 2021 and reaching notable lows in early 2024, before a modest recovery towards mid-2025. Service sales demonstrate a generally increasing trend from 2020 onward, with some fluctuations but maintaining higher levels from 2021 through 2025. Combined sales of equipment and services peaked around the end of 2020 and remained relatively strong with fluctuations until a significant drop in early 2024, followed by some recovery.
Cost of Sales
The cost of equipment sold mirrored sales trends, with reductions especially from 2021 onward, consistent with lower equipment sales volumes. The cost of services sold increased gradually through 2022 and 2023, reflecting expansion in service sales but declined somewhat in 2024 before stabilizing. Overall cost of equipment and services sold consistently tracked the revenues but with some volatility, indicating fluctuating gross margin pressures.
Profitability
Gross profit from sales experienced strong fluctuations. It peaked around the end of 2020 and late 2022, dipped notably in early 2024 corresponding to low sales periods, and then gradually improved toward mid-2025. Operating income similarly showed variability, with a significant trough in early 2020 and late 2021, but improved after 2022 with positive momentum continuing through 2025.
Expenses and Costs
Selling, general and administrative expenses generally decreased over time, particularly after 2022, indicating cost control efforts. Separation costs appeared sporadically starting around 2021, increasing in some quarters and then tapering off by 2025. Research and development expenses were consistently recorded from 2020 onward, with a gradual increase from 2023 through 2025, suggesting ongoing investments in innovation despite cost pressures.
Additional Income and Charges
Interest and other financial charges remained relatively stable but showed a declining trend from 2023 onward. Debt extinguishment costs were significant only in late 2020 and early 2021. Insurance-related revenues and losses fluctuated modestly but showed no clear trend. Other income variations were notable, with large positive spikes in early and late 2023, contributing to profitability in those quarters.
Net Income and Taxation
Net income from continuing operations was volatile, with negative results primarily in 2020 and early 2021, followed by recovery and generally positive figures from late 2022 onward. Discontinued operations contributed negatively with notable swings, particularly negative impacts during 2021 and early 2023, but showed recovery in some later periods. Net income attributable to the company closely followed these patterns, with significant negative dips during 2020-2021 and strong positive rebounds thereafter. Income tax provisions varied in line with profitability but demonstrated some periods of benefits, reflecting the earnings volatility.
Summary Insights
The financial data reflect a business experiencing cyclical and structural challenges primarily in equipment sales, offset by strengthening service revenues. Cost management efforts are evident with reductions in administrative expenses and controlled research and development spending despite heightened volatility in revenues and costs. Profitability metrics show recovery after 2021 lows, supported by improved operating income and other income components. The overall pattern suggests a transitional phase with increased focus on service-based revenue streams and cost discipline, building towards more stable profitability by mid-2025.