GE · Earnings call · 2026Q3T · Full report
Commercial Engines & Services Performance
GENERAL ELECTRIC CO · 2026-10-20 · Importance 59 · Surprise 48 · In source text
CES revenue increased 21% in the quarter, including 17% growth in services, while internal shop visit revenue rose 12% and spare-parts revenue increased more than 20%. Wide-body shop visit demand remained particularly strong as GE90 fleets moved into second shop visits and GEnx fleets moved beyond initial quick-turn visits; wide-body engine deliveries increased more than 50% and GEnx shipments nearly doubled. LEAP activity was also strong, with LEAP volume up more than 40% in shop visits and LEAP shop visit revenue expected to grow at roughly a 25%–26% rate in 2027 as the installed fleet matures.
Key facts
- GENERAL ELECTRIC CO said year-to-date engine deliveries increased 25% supporting CES operating profit growth of $1.4 billion.
- GENERAL ELECTRIC CO said wide-body engine deliveries were up over 50% and GEnx shipments nearly doubled.
- GENERAL ELECTRIC CO commercial services year-to-date revenue is up 26% and total engine deliveries year-to-date are up over 20%.
- GENERAL ELECTRIC CO said equipment revenue grew 38% in the quarter and engine deliveries were up 8%, including LEAP up 5%.
- GENERAL ELECTRIC CO said CFM56 shop visits for next year are closer to the 2,400 mark than the 2,300 mark.
- GENERAL ELECTRIC CO third-quarter CES services orders were up 23% year-over-year and nearly $300 million sequentially.
- GENERAL ELECTRIC CO said the quarter marked the fifth consecutive quarter of at least 500 LEAP engine deliveries.
- GENERAL ELECTRIC CO said CFM56 retirement rates are trending lower than previously expected and management now expects somewhere between 1.5% and 2% retirements for the year.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +10.5% | GENERAL ELECTRIC CO said year-to-date engine deliveries increased 25% supporting CES operating profit growth of $1.4 billion. |
| revenue | positive | probable | — | GENERAL ELECTRIC CO said wide-body engine deliveries were up over 50% and GEnx shipments nearly doubled. |
| revenue | positive | realized | — | GENERAL ELECTRIC CO said the quarter marked the fifth consecutive quarter of at least 500 LEAP engine deliveries. |
| revenue | positive | probable | — | GENERAL ELECTRIC CO said CFM56 retirement rates are trending lower than previously expected and management now expects somewhere between… |
| revenue | positive | realized | — | GENERAL ELECTRIC CO said LEAP volume was up over 40% in the quarter. |
| revenue | positive | realized | — | GENERAL ELECTRIC CO said LEAP shop visits grew about 40% in the quarter and earlier in the year were up in the ~50% range for the first… |
| revenue | positive | committed | — | GENERAL ELECTRIC CO said it delivered commitments for more than 1,800 engines at Farnborough Airshow. |