GE Aerospace has this week revealed their first quarter performance, showcasing a whopping $1.5bn operating profit.
The engine manufacturer has had a strong three months of the year so far.
Without further ado, let’s get into it…
The Numbers from GE Aerospace…
GE Aerospace’s revenues have risen 15% to $8.1bn.
This has resulted in a operating profit of $1.5bn, which is an increase of 24% compared to the same period last year.
Free cash flow for the manufacturer stands at $1.7bn, which they believe to be “favorable” year-on-year.
With the way the company is set up currently, it is working out well for them at present.
Highlights from the Manufacturer…
Within these results, GE Aerospace have reported some strong highlights from the first quarter.
They included the following key wins:
- 300 LEAP engines ordered by Akasa Air for their 737 MAX aircraft.
- 300 LEAP engines for easyJet’s Airbus A320neo aircraft.
- 170 LEAP engines for American Airlines’ Boeing 737 MAX aircraft.
- 90 GEnx Engines for Thai Airways.
- 16 GE9X engines for Ethiopian Airlines.
Total orders have risen by 34% for their Commercial Engines and Services framework, with equipment orders rising 78%.
So, it has been quite the busy first quarter for GE Aerospace.
Overall…
In conclusion, the manufacturer continues to set themselves up for a positive long-term future.
Their first-quarter results for 2024 solidifies that point, and sets them up well for the rest of the year.
All eyes will be on what the second-quarter will look like for the manufacturer.
With the Farnborough Air Show also on the way in July, all eyes will be on how they can capitalise from this.
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