AI English summary of an SEC filing — figures as filed
GE Aerospace GEGE Aerospace said total revenues for the 3 months ended June 30, 2024 rose $9.1 billion, up $0.3 billion, driven mainly by Commercial Engines & Services. Over the same period, profit margin was 15.9% and operating profit margin* was 23.1%.
Key points
AI summaryGE Aerospace said total revenues for the 3 months ended June 30, 2024 rose $9.1 billion, up $0.3 billion, driven mainly by Commercial Engines & Services. Over the same period, profit margin was 15.9% and operating profit margin* was 23.1%.
The company said cash flows from operating activities (CFOA) were $2.6 billion (2023 $1.6 billion) and free cash flows* (FCF) were $2.8 billion (2023 $1.8 billion) for the 6 months ended June 30, 2024. It cited higher net income as the main driver of the increase.
The company said segment revenues at Commercial Engines & Services rose $0.4 billion (7%) and segment profit rose $0.3 billion (21%) for the 3 months ended June 30, 2024. It cited higher internal shop visit volume as a factor, partly offset by lower deliveries of new engines.
GE Aerospace said remaining performance obligations (RPO) as of June 30, 2024 increased $5.8 billion (4%) from December 31, 2023. The company also said it completed the separation of GE Vernova on April 2, 2024 and now operates through two reportable segments, Commercial Engines & Services and Defense & Propulsion Technologies.
Key figures
Quarter ended June 30, 2024
- Revenue
- $9.1B
- Net income
- $1.3B
- EPS
- $1.15
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q2 Revenue and Margins
GE Aerospace said total revenues for the 3 months ended June 30, 2024 rose $9.1 billion, up $0.3 billion, driven mainly by Commercial Engines & Services. Over the same period, profit margin was 15.9% and operating profit margin* was 23.1%.
Source · Based on the MD&A text of the filing
6-Month Operating and Free Cash Flow
The company said cash flows from operating activities (CFOA) were $2.6 billion (2023 $1.6 billion) and free cash flows* (FCF) were $2.8 billion (2023 $1.8 billion) for the 6 months ended June 30, 2024. It cited higher net income as the main driver of the increase.
Source · Based on the MD&A text of the filing
CES Quarterly Segment Results
The company said segment revenues at Commercial Engines & Services rose $0.4 billion (7%) and segment profit rose $0.3 billion (21%) for the 3 months ended June 30, 2024. It cited higher internal shop visit volume as a factor, partly offset by lower deliveries of new engines.
Source · Based on the MD&A text of the filing
RPO Growth and GE Vernova Separation
GE Aerospace said remaining performance obligations (RPO) as of June 30, 2024 increased $5.8 billion (4%) from December 31, 2023. The company also said it completed the separation of GE Vernova on April 2, 2024 and now operates through two reportable segments, Commercial Engines & Services and Defense & Propulsion Technologies.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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