GE Aerospace posts strong growth in first year listed as stand-alone business 

GE Aerospace has posted its first full-year results as an independently listed business. 

The US engine maker has shared details of remarkable growth across the board. Many key financial indicators were up by double digits in 2024: total orders by 32% to $50.3 billion; GAAP revenue by 9% to $38.7 billion; and profit grew by 27% to $7.6 billion. Profit margins stood at 19.7%. 

Growth was particularly strong in the Commercial Engines & Services division, which saw orders increase by 38% and profits by 25%, while the Defense and Propulsion Technologies business was up 10%, with profit increasing 17%. 

2024 was the first year GE Aerospace has posted results as an independent business, following the break-up of the GE conglomerate. 

GE Aerospace was listed in the New York Stock Market (using the symbol ‘GE’) in April 2024 after it was spun-off by GE Vernova, which includes the energy-related businesses of the former GE conglomerate. 

Performance was particularly strong during Q4 2024, with orders going up 46% and operating profit up to 49% to $2 billion. 

The firm’s management attributes these positive results in great part to ‘FLIGHT DECK’, a proprietary lean operating model GE Aerospace uses to streamline its operations and supply chain. 

On the technology side, GE Aerospace reached a number of milestones in 2024: the FAA and EASA certified an upgraded LEAP 1-A high-pressure turbine (HPT) durability kit; it announced plans to work on an Open Fan engine design together with Boeing, NASA, and Oak Ridge National Laboratory; and it successfully demonstrated a one megawatt hybrid electric propulsion system with the U.S. Army.The post GE Aerospace posts strong growth in first year listed as stand-alone business  appeared first on AeroTime.

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