GEGeneral ElectricQ2 FY2026Earnings Analysis

Revenue growth was driven by both equipment and services, especially engine deliveries and aftermarket demand

Q2 FY2026 total revenue rose 21% YoY to $13.35B, with equipment revenue up to $3.60B from $2.84B and services revenue up to $9.03B from $7.31B. Management said equipment growth was driven by increased engine deliveries and improved pricing, while services growth came from higher internal shop visit volume and workscopes, plus higher spare parts volume and pricing. Source: 10-Q Item 2 MD&A, p.4

Source: Source: 10-Q Item 2 MD&A, p.4

Backlog remained a major support, with total remaining performance obligation rising to $210.79B

As of June 30, 2026, total RPO increased by $20.2B, or 11%, from December 31, 2025 to $210.79B. Management attributed the increase primarily to CES commercial actions and increases to existing long-term service agreements, as well as DPT equipment orders outpacing revenue recognized. Source: 10-Q Item 2 MD&A, p.5

Source: Source: 10-Q Item 2 MD&A, p.5

Commercial Engines & Services delivered particularly strong volume growth, led by LEAP and shop visits

In the first six months of 2026, commercial engine deliveries increased to 1,299 units from 951, LEAP deliveries rose to 1,030 from 729, and internal shop visit revenue growth accelerated to 30% from 16%. CES six-month revenue increased 30% to $18.65B and segment profit increased 22% to $5.01B, though margin declined to 26.9% from 28.8% as higher install engine deliveries, growth investment and inflation offset some benefits. Source: 10-Q Item 2 MD&A, p.6

Source: Source: 10-Q Item 2 MD&A, p.6

GE's current ratio is 0.98x, based on current assets of $39.70B versus current liabilities of $40.43B, which means near-term obligations slightly exceed near-term assets on the balance sheet. While management states liquidity is sufficient, this metric suggests the company remains dependent on ongoing cash generation and access to financing facilities. Source: 10-Q Balance Sheet (XBRL)

Source: Source: 10-Q Balance Sheet (XBRL)