GE Aerospace (GE) Q1 2026 (USD): adj. EPS 1.86 (exp. 1.59), Revenue 12.4bln (exp. 10.71bln)

• Q1 orders were up 87%
• Q1 commercial services backlog USD 170bln

GUIDANCE:

• Affirms FY EPS view at high end of 7.10-7.40 range (exp. 7.48)
• Lowers FY26 departures view, now sees flat-to-low single digits (prev. saw mid-single digits)
• Assumes improvement begins in Q4, with flat-to-low single digit growth for the remainder of the year

COMMENTARY:

• Guidance now assumes several macro factors including the price of brent crude oil remaining elevated through Q3 and decreasing by year-end, a near-term impact from fuel availability, a reduction in global GDP estimates, and flat to low-single-digit departures growth in 2026. Guidance does not assume a global economic recession.