GE Aerospace Commercial Services Revenue Rises 17% as Spare-Parts Sales Grow

GE Aerospace's commercial engine business expanded in the 2026 third quarter as services and parts sales advanced, while free cash flow declined despite a sharp rise in orders.

Commercial Engines & Services revenue increased 21% to $10.342 billion. Services revenue grew 17%, including a 12% gain in internal engine shop visit revenue and an increase of more than 20% in spare-parts revenue. Equipment revenue rose 38% as engine deliveries grew 8%; LEAP deliveries were up 5%.

Orders grew faster than revenue. Total orders reached $19 billion, up 49%, while Commercial Engines & Services orders increased 58% to $15.265 billion. Commercial services orders rose 23%.

The segment's operating profit climbed 21% to $2.887 billion. Its margin edged down to 27.9% from 28.0%, a 10-basis-point contraction amid sales mix and inflation.

For 2027, GE Aerospace projects low-double-digit growth in commercial services revenue. The outlook is backed by a commercial services backlog of more than $170 billion.

Across the company, revenue totaled $14.118 billion, up 16% year over year. Adjusted revenue, which excludes revenue from run-off insurance operations, rose 18% to $13.285 billion. Adjusted earnings per share increased 36% to $2.25.

Cash generation moved lower. Free cash flow was $2.042 billion, down 14% from $2.362 billion a year earlier. Cash from operating activities also fell 14%, to $2.203 billion.