General Electric (GE) is a multinational conglomerate that operates through three main segments: Aerospace, Renewable Energy, and Power. The company is a global leader in propulsion, services, and systems, particularly in the aerospace industry, where it manufactures jet engines for commercial and military aircraft, provides maintenance, and sells spare parts . GE also focuses on renewable energy solutions, offering wind and other renewable energy generation equipment, as well as grid solutions . Additionally, GE provides power generation equipment and services, including gas, steam, and nuclear power solutions . The company emphasizes innovation and sustainability, aiming to develop technologies for a more sustainable future .
- Aerospace - Manufactures jet engines for commercial and military aircraft, provides maintenance, component repair, and overhaul services, and sells spare parts.
- Power - Provides gas, steam, nuclear, and other power generation equipment, along with services to support these products.
- Renewable Energy - Focuses on wind and other renewable energy generation equipment and grid solutions, including onshore and offshore wind, blade manufacturing, grid solutions, hydro, battery storage, hybrid renewables, and digital services offerings.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
H. Lawrence Culp, Jr. ExecutiveBoard | Chairman & CEO of GE; CEO of GE Aerospace | Non-Executive Chairman of GE HealthCare; Trustee at Wake Forest University; Board of Visitors & Governors at Washington College. | Joined GE in 2018, led strategic transformation, including spin-offs of GE HealthCare and GE Vernova. Former CEO of Danaher Corporation. | View Report → |
Amy Gowder Executive | Senior Vice President & CEO, Defense & Systems | None | Joined GE in 2022; previously COO at Aerojet Rocketdyne and held leadership roles at Lockheed Martin. | |
Christian Meisner Executive | Senior Vice President & Chief Human Resources Officer | None | Joined GE in 2023; previously CHRO at Kaiser Permanente and Otis Elevator Company. | |
John R. Phillips III Executive | Senior Vice President, General Counsel & Secretary | None | Joined GE in 2023; previously Deputy Counsel to the President of the United States and held legal leadership roles at Boeing. | |
Mohamed Ali Executive | Senior Vice President & Chief Technology & Operations Officer | None | Joined GE in 1997; became CTO in 2025. Held various engineering leadership roles. | |
Rahul Ghai Executive | Senior Vice President & CFO of GE | None | Joined GE in 2022 as CFO of GE Aerospace; became CFO of GE in 2023. Former CFO of Otis Worldwide and Harris Corporation. | |
Ricardo Procacci Executive | Senior Vice President & CEO, Propulsion & Additive Technologies | None | Joined GE in 2002; previously CEO of Avio Aero. | |
Robert Giglietti Executive | Vice President, Chief Accounting Officer, Controller, and Treasurer | Chairperson of the Board, CFO, and SVP at GE Capital US Holdings, Inc.. | Joined GE in 2002; held various finance and accounting leadership roles, including CFO of GE Capital and Corporate. | |
Russell Stokes Executive | Senior Vice President & CEO, Commercial Engines & Services, GE Aerospace | None | Joined GE in 1998; held multiple leadership roles, including CEO of GE Power and GE Transportation. | |
Catherine Lesjak Board | Director | Board Member at PROS Holdings and GE HealthCare; Member of Haas School of Business Board. | Former CFO of HP; joined GE's board in 2019. | |
Darren McDew Board | Director | Board Member at Abbott Laboratories, Parsons Corporation, and USAA; Director at Boys & Girls Club of America. | Retired four-star General of the U.S. Air Force; joined GE's board in 2023. | |
Edward Garden Board | Director | Chairman & CEO of Garden Investments; Director at Janus Henderson Group. | Founding Partner of Trian Fund Management; joined GE's board in 2017. | |
Isabella Goren Board | Director | Board Member at Marriott International and MassMutual Financial Group; Member of advisory boards at SMU and UT Austin. | Former CFO of American Airlines; joined GE's board in 2022. | |
Margaret Billson Board | Director | Board Member at CAE Inc.. | Former President & CEO of Global Engine Services at BBA Aviation; joined GE's board in 2023. | |
S\u00e9bastien Bazin Board | Director | Chairman & CEO of AccorHotels; Vice Chairman of Gustave Roussy Foundation; Chairman of Safar Ventures. | CEO of AccorHotels since 2013; joined GE's board in 2016. | |
Stephen Angel Board | Director | Chairman of Linde plc; Board Member at PPG Industries; Member of The Business Council. | Former CEO of Praxair and Linde plc; joined GE's board in 2022. | |
Thomas Enders Board | Director | Board Member at Linde plc and Lilium N.V.; Supervisory Board Member at Lufthansa Group; President of the German Council on Foreign Relations. | Former CEO of Airbus SE; joined GE's board in 2023. | |
Thomas Horton Board | Lead Director | Partner at Global Infrastructure Partners; Lead Independent Director at Walmart. | Former Chairman & CEO of American Airlines; joined GE's board in 2018. |
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Given the ongoing supply chain constraints impacting engine deliveries, with LEAP deliveries expected to be down approximately 10% year-over-year, can you detail the specific steps you're taking to mitigate these issues and ensure you meet your delivery commitments in both the commercial and defense segments?
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You mentioned that higher 9X engine shipments in 2025 will put pressure on margins and that program losses are expected to peak later in the decade before becoming profitable by 2030; how do you plan to manage these losses, and what strategies are in place to accelerate the profitability of the 9X program?
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Despite lower engine deliveries and ongoing supply chain challenges, your financials continue to improve; can you explain how you're achieving strong earnings and cash flow under these circumstances, and what risks could impact this performance moving forward?
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In the defense segment, profits declined due to lower engine deliveries and higher investments; what are the primary factors contributing to the delivery challenges, and what measures are you implementing to improve performance and meet the evolving needs of your military customers?
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With equipment growth expected to be faster than services in 2025 due to higher volumes, including 9X shipments, how will you address the potential margin pressures and ensure overall profitability, especially considering that some 2024 equipment volume is moving into 2025?
Research analysts who have asked questions during GENERAL ELECTRIC earnings calls.
Myles Walton
Wolfe Research, LLC
6 questions for GE
Scott Deuschle
Deutsche Bank
6 questions for GE
Seth Seifman
JPMorgan Chase & Co.
6 questions for GE
Sheila Kahyaoglu
Jefferies
6 questions for GE
Gautam Khanna
TD Cowen
5 questions for GE
David Strauss
Barclays
4 questions for GE
Robert Stallard
Vertical Research Partners
4 questions for GE
Ronald Epstein
Bank of America
4 questions for GE
Douglas Harned
Sanford C. Bernstein & Co., LLC
3 questions for GE
Jason Gursky
Citigroup Inc.
3 questions for GE
Noah Poponak
Goldman Sachs
3 questions for GE
Doug Harned
Bernstein
2 questions for GE
Gavin Parsons
UBS Group AG
2 questions for GE
Kenneth Herbert
RBC Capital Markets
2 questions for GE
Ron Epstein
Bank of America
2 questions for GE
Scott Mikus
Melius Research
2 questions for GE
Ken Herbert
RBC Capital Markets
1 question for GE
Robert Spingarn
Melius Research LLC
1 question for GE
Scott Mikas
Melius Research LLC
1 question for GE
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Nexus Controls | 2023 | The acquisition was completed on April 3, 2023 at a cost of $0.3 billion, and it integrated Nexus Controls into GE’s Gas Power business to enhance quality, service, and delivery. The deal brought in key capabilities in aftermarket control system upgrades and field services to support long-term strategic growth in the power sector. |
Recent press releases and 8-K filings for GE.
- GE Vernova will acquire the remaining 50% stake in Prolec GE from Xignux, consolidating the grid equipment supplier after 30 years of partnership.
- The acquisition is priced at $5.275 billion, to be funded equally by cash and debt, and is expected to close by mid-2026 upon regulatory approvals.
- Prolec GE projects $3 billion in revenue in 2025 with an ~25% adjusted EBITDA margin and anticipates low double-digit revenue growth in the coming years.
- The deal accelerates growth for GE Vernova’s Electrification segment—its fastest-growing segment—and enhances its presence in North America’s expanding grid markets.
- Revenue of $11.3 billion, up 26%; operating profit $2.3 billion, up 26%; adjusted EPS $1.66, up 44% year-over-year.
- Orders up 2% in Q3 (13% YTD), with services orders up 31% YTD; services revenue +28% and engine deliveries +41% YoY.
- Free cash flow of $2.4 billion, up 30% with over 130% conversion; working capital and AD&A increased by $300 million.
- Defense output +83% YoY; DPT profit $386 million, up 75%, with margin expansion of 380 bps to 13.6%.
- Raised full-year guidance: revenue to high-teens growth, EPS to $6.00–$6.20, CES operating profit to $8.45–8.65 billion, and free cash flow to $7.1–$7.3 billion.
- GE Aerospace Q3 revenue of $11.3 billion (+26%) and operating profit of $2.3 billion (+26%); adjusted EPS $1.66 (+44%)
- CES services revenue up 28%, total engine deliveries up 41%, with CES operating profit +35% and DPT profit +75% to $386 million
- Q3 orders +2% (YTD +13%), backlog at ~$175 billion; commercial services orders +31% YTD
- Raised full-year guidance: revenue to grow high-teens, CES low-20s, DPT high-single-digits; EPS to $6.00–$6.20, free cash flow to $7.1–$7.3 billion
- Delivered $11.3 B adjusted revenue (+26% y/y), $1.66 adjusted EPS (+44% y/y) and $2.4 B free cash flow (+30% y/y) in Q3 2025.
- Commercial Engines & Services posted $8.9 B revenue (+27% y/y) and $2.4 B operating profit (+35% y/y), with a 27.4% margin (+170 bps).
- Defense & Propulsion Technologies achieved $2.8 B revenue (+26% y/y) and $0.4 B operating profit (+75% y/y), with a 13.6% margin (+380 bps).
- Raised FY 2025 guidance: adjusted revenue growth to high-teens, operating profit to $8.65–$8.85 B, adjusted EPS to $6.00–$6.20, and free cash flow to $7.1–$7.3 B.
- GE Aerospace reported third-quarter 2025 total orders of $12.8 billion (+2%), GAAP revenue of $12.2 billion (+24%), GAAP profit of $2.5 billion (+33%), continuing EPS of $2.04 (+31%), and free cash flow of $2.4 billion (+30%) for the quarter ended September 30, 2025.
- The company raised its full-year 2025 guidance to high-teens revenue growth, operating profit of $8.65–$8.85 billion, adjusted EPS of $6.00–$6.20, and free cash flow of $7.1–$7.3 billion.
- In Commercial Engines & Services, Q3 orders were $10.3 billion (+5%), revenue $8.9 billion (+27%), and operating profit $2.436 billion (+35%) with a 27.4% margin (+170 bps).
- Defense & Propulsion Technologies delivered Q3 revenue of $2.828 billion (+26%), operating profit of $386 million (+75%), and expanded margin to 13.6% (+380 bps).
- Wesley G. Bush, former Northrop Grumman CEO, was elected to the GE Aerospace Board of Directors effective December 1, 2025.
- $3 billion investment to modernize and expand U.S. manufacturing across Kentucky, Georgia, Alabama, Tennessee, and South Carolina, shifting production of key appliances from China and Mexico back to the U.S.
- Creation of over 1,000 jobs through reshoring initiatives, supported by lean manufacturing, workforce upskilling, and automation strategies
- Relocation of gas range production to Georgia, refrigerator manufacturing to Alabama, and doubling of electric and hybrid heat pump water heater output in South Carolina
- $490 million expansion of the Louisville, Kentucky washing-machine plant to add combo washer/dryer lines and increase front-load washer capacity
- Total U.S. investment will reach $6.5 billion since 2016 across plants and distribution once fully implemented
- The global aircraft electrification market grew from $8.78 billion in 2024 to $10.14 billion in 2025, and is projected to reach $20 billion by 2030 at a CAGR of 14.69%.
- Key growth drivers include global emissions mandates, advancements in propulsion and energy storage, and robust investments from established aerospace leaders and disruptive entrants.
- Regional strategies vary: North America leads with venture-backed pilots and short-haul networks, Europe focuses on emissions reduction and certification harmonization, and Asia-Pacific leverages manufacturing strengths and infrastructure development.
- Introduction of US tariffs on imported aviation components beginning in 2025 is reshaping supply chains, prompting increased domestic manufacturing and cost-sharing arrangements.
- Cathay Pacific committed to purchase 14 additional GE9X engines for its Boeing 777-9 fleet, raising its total GE9X orders to 35 engines.
- The agreement includes a maintenance, repair, and overhaul service contract for the GE9X engines.
- The GE9X is the world’s most powerful commercial aircraft engine, delivers 10% better fuel efficiency versus its predecessor, features next-generation emissions technology, and supports Sustainable Aviation Fuel blends.
- On July 29, 2025, GE Aerospace closed a public offering of $1 billion 4.300% Notes due 2030 and $1 billion 4.900% Notes due 2036, issued under its October 9, 2012 senior note indenture as supplemented by company orders and officer’s certificates.
- The Notes were registered on Form S-3ASR (File No. 333-276832) with a base prospectus filed February 2, 2024, a preliminary prospectus supplement on July 22, 2025, and a final prospectus supplement on July 24, 2025.
- Interest on both series accrues from July 29, 2025 and is payable semiannually on January 29 and July 29, with principal due at maturity on July 29, 2030 and January 29, 2036, respectively.
- Gibson, Dunn & Crutcher LLP opined that the Notes are legal, valid and binding obligations of General Electric Company, enforceable in accordance with their terms.
- On July 22, 2025, General Electric Company, operating as GE Aerospace, entered into an underwriting agreement to issue $1,000,000,000 4.300% Notes due 2030 and $1,000,000,000 4.900% Notes due 2036.
- The 2030 notes were priced at 99.800% of par (yield 4.345%, +47 bps to UST 3.875% 6/30/2030) and the 2036 notes at 99.594% of par (yield 4.950%, +62 bps to UST 4.250% 5/15/2035), with settlement on July 29, 2025.
- The notes are senior unsecured, registered under GE’s Form S-3 (Reg. No. 333-276832) and expected ratings were A3 (Positive) / A- (Stable) from Moody’s and S&P.