Sector: Industrials|Industry: Aerospace & Defense|Market Cap: $178.39B|Employees: 125K
General Electric is a high-tech industrial company operating through three segments: Aerospace, Renewable Energy, and Power. They manufacture products such as commercial and military aircraft engines, wind turbines, and power generation equipment. GE has a significant global presence with manufacturing and service operations in over 160 countries and is considered a leader in most of the major industries in which they participate.
Total revenues increased by $1.6 billion, or 11%, year-over-year, reaching $16.1 billion, with growth across all segments and Corporate. Equipment revenues increased, primarily at Aerospace, Renewable Energy, and Power, while services revenues increased, primarily at Aerospace and Power.
Profit margin decreased to 11.6% from 44.8% year-over-year, with profit down $4.6 billion, primarily due to a decrease in gains on retained and sold ownership interests of $5.3 billion, mainly related to GE HealthCare equity position, and an increase in separation costs of $0.2 billion.
Adjusted organic profit increased by $0.6 billion, with adjusted profit margin increasing 300 basis points organically to 10.2%. This was driven by increases at Aerospace, Renewable Energy, and Power, indicating underlying operational improvements despite margin pressures.