UPDATE – GE Aerospace benefitted from strong demand for new commercial engines and services, reporting a 25-percent growth of revenues to $8.4 billion in Q3. For the year-to-date, revenues are up by even 26 percent to $23.3 billion, General Electric said in its Q3 earnings release today. GE’s consolidated revenues were up by 18 percent to $46.1 billion. However, the engine maker has reduced its guidance for CFM LEAP deliveries for 2024.
The aero-engine division saw particularly strong revenue growth in services, which were up 29 percent to $6.1 billion in Q3 or by 26 percent to $16.4 billion in the first nine months. Revenues from engine sales grew by 17 percent in Q3 to $2.3 billion or by 26 percent to $6.8 billion year to date. The net profit for the engine unit was up 33 percent to $1.7 billion, resulting in an operational margin of 20.4 percent.
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.
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