Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2367.6%
Neutral1132.4%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
GE Aerospace · GE · FY2024 Q3 · Calendar Q4 2024
GE Aerospace: Services Strength Supports Raised Outlook, Supply Risks Remain
GE Aerospace's Q3 analysis supports a services-led growth thesis: strong orders, backlog and cash flow underpin the raised outlook, while supply-chain execution, certification and defense-margin pressure are the key tests.
Reported Before market openNYSEIndustrials
$325.62B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.15
Consensus $1.13
EPS surprise
+1.8%
Reported versus consensus
Reported revenue
$9.84B
Consensus $9.02B
Revenue surprise
+9.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-9.0%
Event window
SPY move
-0.1%
Same window
Abnormal move
-9.0%
Stock minus SPY
Volume
4.4×
Versus trailing sessions
Subsequent drift
+0.5%
Up to 20 sessions
GESPY benchmark
Ask FN2 about GE FY2024 Q3
Transcript, numbers and history already loaded
Why did GE fall 9.0% after beating EPS estimates in FY2024 Q3?What changed in GE's guidance and outlook in FY2024 Q3?Give me the bull and bear case for GE after FY2024 Q3 earnings.
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Transcript intelligence
What changed
Relative to the prior-quarter analysis, orders and free cash flow remained strong, the backlog reached $149 billion, and management emphasized a new $1 billion five-year MRO program and LEAP output initiatives while maintaining a raised outlook.
Guidance delta
Management raised full-year guidance, supported by strong free cash flow and services demand.
Key takeaways
- Orders grew 28% year over year, with commercial engines and services leading growth.
- Free cash flow reached $1.8 billion, with conversion above 140%, supporting the raised full-year guidance.
- Service revenue grew 10% year over year; the $149 billion backlog is 90% services.
- Supply-chain constraints persist, although FLIGHT DECK initiatives increased priority supplier output 18% sequentially.
- Defense backlog reached $18 billion, while mix and R&D investment continued to pressure profit.
Management priorities
- Complete certification of the LEAP 1A durability kit and new HPT blade.
- Invest $1 billion in MRO capacity over five years, including sites in Poland and Brazil.
- Expand the third-party LEAP shop-visit network and partnership with ST Engineering.
- Advance turboprop, open-fan, T901 and NGAD propulsion programs.
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Beat
Miss
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Analyst 52W Price Targets
$312.63Current
$55Low
$224.45Average
$455High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Sep 30, 2026 |
| Jefferies | Buy | Buy | Maintain | Sep 23, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 23, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 20, 2026 |
| UBS | Buy | Buy | Maintain | Jul 17, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 17, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 13, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 9, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 1, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 22, 2026 |
| B of A Securities | Buy | Buy | Maintain | Oct 27, 2025 |
| Barclays | Overweight | Overweight | Maintain | Jul 23, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Jan 2, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 24, 2024 |
| Argus Research | Buy | Buy | Maintain | Apr 24, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Mar 5, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 27, 2022 |
| Wolfe Research | Outperform | Outperform | Maintain | May 11, 2022 |
| DZ Bank | Hold | Sell | Upgrade | Dec 16, 2020 |
| Gordon Haskett | Hold | Underperform | Upgrade | Feb 7, 2020 |
| Vertical Research | Hold | Buy | Downgrade | Feb 1, 2019 |
| Argus | Buy | Hold | Upgrade | Jan 31, 2019 |
| Bank of America | Neutral | Neutral | Maintain | Jul 27, 2018 |
| Gabelli & Co. | Buy | Buy | Maintain | May 14, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Apr 27, 2018 |
| Langenberg & Company | Buy | Hold | Upgrade | Nov 13, 2017 |
| Standpoint Research | Hold | Sell | Upgrade | Jun 29, 2017 |
| Cowen & Co. | Perform | Market Perform | Maintain | Jun 7, 2016 |
| William Blair | Outperform | Market Perform | Upgrade | Oct 13, 2015 |
| LBBW Research | Buy | Hold | Upgrade | Jan 26, 2015 |
| Stifel | Buy | Buy | Maintain | Sep 17, 2014 |
| Nomura | Neutral | Neutral | Maintain | Nov 18, 2013 |
| Tigress Financial | Neutral | Neutral | Maintain | Mar 6, 2013 |
| Hilliard Lyons | Long Term Buy | Maintain | Oct 19, 2012 | |
| Bank oferica | Neutral | Neutral | Maintain | Apr 4, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $312.63. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $435 | $321.4 | +39.1% | Sep 23, 2026 |
| Melius Research | Analyst unavailable | $350 | $323.66 | +12.0% | Sep 14, 2026 |
| Deutsche Bank | Analyst unavailable | $450 | $361.52 | +43.9% | Jul 27, 2026 |
| Bernstein | Analyst unavailable | $421 | $341.19 | +34.7% | Jul 23, 2026 |
| Wells Fargo | Analyst unavailable | $390 | $348.83 | +24.7% | Jul 20, 2026 |
| Goldman Sachs | Noah Poponak | $410 | $348.83 | +31.1% | Jul 20, 2026 |
| UBS | Gavin Parsons | $435 | $345.73 | +39.1% | Jul 17, 2026 |
| RBC Capital | Ken Herbert | $400 | $353.73 | +27.9% | Jul 15, 2026 |
| Susquehanna | Analyst unavailable | $430 | $361.02 | +37.5% | Jul 9, 2026 |
| Jefferies | Sheila Kahyaoglu | $455 | $380.41 | +45.5% | Jul 2, 2026 |
| Seaport Global | Analyst unavailable | $375 | $314.49 | +20.0% | May 26, 2026 |
| RBC Capital | Ken Herbert | $355 | $285.28 | +13.6% | May 20, 2026 |
| Jefferies | Analyst unavailable | $365 | $284.6 | +16.8% | Apr 26, 2026 |
| Morgan Stanley | Analyst unavailable | $425 | $334.74 | +35.9% | Feb 20, 2026 |
| Deutsche Bank | Analyst unavailable | $387 | $293.42 | +23.8% | Jan 23, 2026 |
| UBS | Analyst unavailable | $374 | $295 | +19.6% | Jan 23, 2026 |
| Susquehanna | Analyst unavailable | $380 | $322.67 | +21.5% | Jan 15, 2026 |
| UBS | Analyst unavailable | $368 | $323.26 | +17.7% | Jan 15, 2026 |
| UBS | Gavin Parsons | $366 | $306.63 | +17.1% | Oct 22, 2025 |
| Deutsche Bank | Analyst unavailable | $350 | $301.74 | +12.0% | Oct 8, 2025 |
| RBC Capital | Ken Herbert | $275 | $248.87 | -12.0% | Jun 3, 2025 |
| Argus Research | John Eade | $250 | $204.11 | -20.0% | Feb 3, 2025 |
| RBC Capital | Ken Herbert | $200 | $176.66 | -36.0% | Oct 23, 2024 |
| Wells Fargo | Matthew Akers | $210 | $176.66 | -32.8% | Oct 23, 2024 |
| UBS | Chris Snyder | $230 | $176.66 | -26.4% | Oct 23, 2024 |
| Bernstein | Brendan Luecke | $225 | $191.16 | -28.0% | Oct 14, 2024 |
| Bernstein | Douglas Harned | $201 | $165.35 | -35.7% | Sep 10, 2024 |
| Deutsche Bank | Scott Deuschle | $209 | $161.92 | -33.1% | Jun 10, 2024 |
| UBS | Chris Snyder | $201 | $160.81 | -35.7% | May 23, 2024 |
| CFRA | Stewart Glickman | $181 | $160.81 | -42.1% | May 22, 2024 |
| Argus Research | John Eade | $170 | $156.61 | -45.6% | Apr 10, 2024 |
| Jefferies | Sheila Kahyaoglu | $180 | $155.95 | -42.4% | Apr 10, 2024 |
| Goldman Sachs | Noah Poponak | $190 | $156.52 | -39.2% | Apr 9, 2024 |
| Vertical Research | Jeffrey Sprague | $160 | $145.62 | -48.8% | Apr 4, 2024 |
| RBC Capital | Ken Herbert | $160 | $145.62 | -48.8% | Apr 4, 2024 |
| Deutsche Bank | Scott Deuschle | $190 | $136.47 | -39.2% | Apr 3, 2024 |
| Wolfe Research | Myles Walton | $162 | $136.47 | -48.2% | Apr 3, 2024 |
| Wells Fargo | Matthew Akers | $200 | $173.55 | -36.0% | Mar 27, 2024 |
| J.P. Morgan | Seth Seifman | $136 | $131.23 | -56.5% | Jan 23, 2024 |
| Citigroup | Analyst unavailable | $100 | $81.45 | -68.0% | Dec 9, 2022 |
| RBC Capital | Analyst unavailable | $98 | $82.49 | -68.7% | Dec 9, 2022 |
| Deutsche Bank | Analyst unavailable | $94 | $85.23 | -69.9% | Dec 5, 2022 |
| Barclays | Analyst unavailable | $78 | $62.54 | -75.1% | Oct 3, 2022 |
| UBS | Analyst unavailable | $87 | $73.98 | -72.2% | Aug 4, 2022 |
| Credit Suisse | Analyst unavailable | $84 | $70.56 | -73.1% | Jul 27, 2022 |
| Deutsche Bank | Analyst unavailable | $90 | $62.14 | -71.2% | Jul 13, 2022 |
| Wells Fargo | Analyst unavailable | $72 | $63.02 | -77.0% | Jul 13, 2022 |
| Morgan Stanley | Joshua Pokrzywinski | $95 | $63.54 | -69.6% | Jul 12, 2022 |
| Barclays | Analyst unavailable | $81 | $63 | -74.1% | Jul 8, 2022 |
| Wells Fargo | Joseph O’Dea | $74 | $62.03 | -76.3% | Jul 5, 2022 |
| Goldman Sachs | Analyst unavailable | $82 | $64.54 | -73.8% | Jun 23, 2022 |
| Jefferies | Saree Boroditsky | $80 | $74.78 | -74.4% | Jun 10, 2022 |
| Morgan Stanley | Joshua Pokrzywinski | $100 | $77 | -68.0% | Jun 7, 2022 |
| Barclays | Julian Mitchell | $96 | $77.01 | -69.3% | May 26, 2022 |
| Morgan Stanley | Analyst unavailable | $112 | $76.6 | -64.2% | May 17, 2022 |
| Deutsche Bank | Nicole DeBlase | $107 | $74.76 | -65.8% | May 13, 2022 |
| Wolfe Research | Nigel Coe | $107 | $72.83 | -65.8% | May 12, 2022 |
| Morgan Stanley | Analyst unavailable | $115 | $76.86 | -63.2% | Apr 29, 2022 |
| Credit Suisse | John Walsh | $102 | $74.55 | -67.4% | Apr 29, 2022 |
| Deutsche Bank | Nicole DeBlase | $118 | $90.83 | -62.3% | Apr 17, 2022 |
| Barclays | Julian Mitchell | $115 | $92.02 | -63.2% | Apr 4, 2022 |
| Cowen & Co. | Gautam Khanna | $110 | $92.28 | -64.8% | Mar 12, 2022 |
| Credit Suisse | John Walsh | $116 | $88.15 | -62.9% | Mar 8, 2022 |
| Wolfe Research | Nigel Coe | $127 | $92.69 | -59.4% | Feb 21, 2022 |
| Bank of America Securities | Andrew Obin | $132 | $92.02 | -57.8% | Jan 28, 2022 |
| Goldman Sachs | Joe Ritchie | $124 | $89.24 | -60.3% | Jan 26, 2022 |
| J.P. Morgan | Stephen Tusa | $55 | $89.24 | -82.4% | Jan 26, 2022 |
| Bernstein | Brendan Luecke | $120 | $99.33 | -61.6% | Jan 10, 2022 |
| Jefferies | Saree Boroditsky | $100 | $89.9 | -68.0% | Dec 20, 2021 |
| DZ BANK AG | Robert Czerwensky | $140 | $102.65 | -55.2% | Aug 4, 2021 |
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Start freeCompany context
Snapshot as of publicationBased in Evendale, Ohio, GE Aerospace is a prominent American aviation enterprise with roots tracing back to its 1878 founding by Thomas Alva Edison. The company specializes in manufacturing and supplying jet and turboprop engines, along with integrated systems, for an extensive range of aircraft, including those in commercial, military, business, and general aviation use. Its robust brand lineup features Avio Aero, Unison, GE Additive, and Dowty Propellers. GE Aerospace organizes its activities into two core segments: Commercial Engines & Services, and Defense & Propulsion Technologies. The Commercial Engines & Services division oversees the design, development, production, and maintenance of jet engines for commercial airframes, business aviation, and aeroderivative applications. Meanwhile, the Defense & Propulsion Technologies segment is dedicated to providing vital engines and critical systems for defense-related aerospace needs.
Historical context
All GE earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| JBHT J.B. Hunt Transport Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | -2.0% | J.B. Hunt: Strong demand, but margin repair remains central |
| FAST Fastenal Company | FY2026 Q3 · Calendar Q4 2026 | +3.3% | +1.1% | Fastenal Q3: Share Gains and Digital Adoption Lift Growth |
Latest beats and misses
Who reports nextBeat on EPS
Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-19T17:30:47.204981+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T17:30:47.201960+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.