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.
Context
GE Aerospace's strong Q1 results, with adjusted EPS beating expectations and substantial revenue growth, point to robust demand, as reflected in an 87% increase in orders and a $170 billion services backlog. However, the company tempered its full-year departures outlook, suggesting caution given potential macroeconomic headwinds such as elevated oil prices and reduced global GDP forecasts. This mixed signal about future growth, combined with a solid current performance, may keep investors on edge regarding how external economic factors could influence GE's trajectory.
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