GE · Earnings call · 2026Q3T · Full report
Order Backlog and Book-to-Bill
GENERAL ELECTRIC CO · 2026-10-20 · Importance 76 · Surprise 56 · Contradicted
Third-quarter orders increased 49%, led by Commercial Engines and Services (CES), where orders rose 58% and commercial services orders increased 23%; year-to-date services orders were up 30%. GE Aerospace’s backlog exceeded $170 billion, with most engines needed for first-half 2027 service work already in shops, supporting management’s expectation for low-double-digit commercial services growth in 2027. Defense and Propulsion Technologies (DPT) orders increased 18% in the quarter, with defense book-to-bill of 1.0 and year-to-date book-to-bill of 1.5, while DPT backlog exceeded $30 billion.
Key facts
- GENERAL ELECTRIC CO said year-to-date DPT backlog was over $30 billion, up over $5 billion since the start of the year.
- GENERAL ELECTRIC CO third-quarter CES orders were up 58% year-over-year.
- GENERAL ELECTRIC CO said it has over 100% of the engines' fourth-quarter internal shop visits currently in the shop.
- GENERAL ELECTRIC CO is entering the quarter with more than 95% of spare parts in backlog.
- GENERAL ELECTRIC CO year-to-date orders are up 49% and year-to-date revenue is up 23%.
- GENERAL ELECTRIC CO reported year-to-date CES orders up 54% and services up 30%.
- GENERAL ELECTRIC CO said defense book-to-bill was 1.0 in the quarter and 1.5 year-to-date.
- GENERAL ELECTRIC CO third-quarter orders were up 49% year-over-year.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +37.5% | GENERAL ELECTRIC CO said year-to-date DPT backlog was over $30 billion, up over $5 billion since the start of the year. |
| revenue | positive | realized | +18.7% | GENERAL ELECTRIC CO year-to-date orders are up 49% and year-to-date revenue is up 23%. |
| revenue | positive | realized | — | GENERAL ELECTRIC CO third-quarter CES orders were up 58% year-over-year. |
| revenue | positive | probable | — | GENERAL ELECTRIC CO said it has over 100% of the engines' fourth-quarter internal shop visits currently in the shop. |
| revenue | positive | probable | — | GENERAL ELECTRIC CO is entering the quarter with more than 95% of spare parts in backlog. |
| revenue | positive | realized | — | GENERAL ELECTRIC CO reported year-to-date CES orders up 54% and services up 30%. |
| revenue | positive | probable | — | GENERAL ELECTRIC CO said CES orders year-to-date are up 54% and that positions the company well for 2027. |