GE Aerospace can look back on a strong 2023. The engine maker recorded a 22 percent increase in orders to $38.1 billion from organic growth. The blockbuster order from Emirates for 202 GE9X turbofans for 90 Boeing 777X announced in November was, of course, a huge boost. For 2024, GE expects low double-digit revenue growth and an operating profit that should be slightly up on last year.
The $38.1 billion order intake compares to $31.1 billion in 2022. Total revenues for GE Aerospace also increased by 22 percent to $31.8 billion from $26.1 billion. Of this, $13.5 billion is from new engine orders and $$24.6 billion from services, which reported a 25 percent increase year on year. The operating profit was $6.1 billion, up 28 percent from $4.8 billion. This translates into a profit margin of 19.2 percent. Earnings per share were $7.98 GAAP or $2.81 Adjusted.
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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