Stock Analysis on Net
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: 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
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
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-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).

The financial performance presented demonstrates significant fluctuations over the analyzed period, spanning from March 2021 to December 2025. Revenue exhibits a complex pattern, with periods of growth interspersed with substantial declines. Profitability metrics also show considerable volatility, influenced by both revenue changes and cost management.

Revenue Trends
Total sales of equipment and services initially increased from $16.316 billion in March 2021 to a peak of $21.012 billion in December 2022. However, a marked decrease is then observed, falling to $8.076 billion in March 2024. A subsequent recovery occurs, reaching $11.866 billion by December 2025. This pattern suggests cyclicality or the impact of significant external factors. Sales of equipment alone show a more pronounced decline and recovery, while sales of services demonstrate greater stability, consistently contributing a substantial portion of overall revenue.
Cost of Goods Sold
The cost of equipment and services sold generally tracks revenue trends, increasing during periods of higher sales and decreasing when sales decline. The cost structure appears relatively consistent as a percentage of revenue, although fluctuations exist. Notably, the cost of services sold remains consistently high, often exceeding the cost of equipment sold.
Gross Profit
Gross profit mirrors the revenue trends, peaking at $5.545 billion in December 2022 before declining to $2.330 billion in March 2024. The subsequent revenue recovery is reflected in a gross profit increase to $3.501 billion by December 2025. Insurance revenue contributes a consistent, though smaller, component to gross profit.
Operating Income
Operating income exhibits substantial volatility. A peak of $2.302 billion is observed in December 2022, followed by a significant drop to $932 million in September 2022 and a low of $175 million in March 2022. The period from March 2024 to December 2025 shows a recovery, with operating income reaching $2.858 billion. Selling, general, and administrative expenses remain relatively stable, while research and development expenses show a slight upward trend. Separation costs and goodwill impairments contribute to fluctuations in operating income, particularly in specific quarters.
Net Income
Net income attributable to the company demonstrates the most dramatic fluctuations. A substantial loss of $3.900 billion is recorded in March 2021, followed by a period of recovery and then another significant loss in December 2022. By December 2025, net income reaches $2.541 billion. The impact of discontinued operations, net of taxes, is also significant, contributing to both positive and negative results in different periods. Interest and other financial charges, along with income tax provisions, consistently affect net income. Other income (loss) shows considerable variability, with large positive impacts in certain quarters, notably December 2022 and December 2025.

Overall, the financial performance demonstrates a cyclical pattern with significant volatility. While revenue and profitability have recovered in recent periods, the substantial fluctuations observed throughout the analyzed timeframe suggest sensitivity to external factors and/or internal strategic shifts. The company experienced periods of substantial losses, followed by periods of strong profitability, indicating a dynamic and potentially challenging operating environment.