GENERAL ELECTRIC CO

For the three months ended June 30, 2025, total revenue increased $1.9 billion, or 21%, compared to the three months ended June 30, 2024. Equipment revenue increased, driven by increased engine deliveries and improved pricing, partially offset by customer mix. Services revenue increased, due to increased spare parts volume, increased internal shop visit volume and shop visit workscopes and improved pricing.

42025 2Q FORM 10-Q

For the six months ended June 30, 2025, total revenue increased $2.9 billion, or 16%, compared to the six months ended June 30, 2024. Equipment revenue increased, driven by increased engine deliveries and improved pricing. Services revenue increased, due to increased spare parts volume, increased internal shop visit volume and shop visit workscopes and improved pricing.

For the three months ended June 30, 2025, continuing net income increased $0.7 billion compared to the three months ended June 30, 2024, driven by an increase in segment profit of $0.6 billion, a decrease in losses on retained and sold ownership interests of $0.4 billion, primarily related to our prior investment in GE HealthCare, and a decrease in interest and other financial charges of $0.1 billion. The increase was partially offset by an increase in provision for income taxes of $0.3 billion, due to higher net income before taxes, and an increase in Adjusted Corporate & Other operating costs* of $0.1 billion. Adjusted net income* was $1.8 billion, an increase of $0.5 billion, due to an increase in segment profit of $0.6 billion, partially offset by an increase in Adjusted Corporate & Other operating costs* of $0.1 billion.

Profit was $2.4 billion, an increase of $0.9 billion. Profit margin was 21.7%, an increase from 15.9%. Operating profit* was $2.3 billion, an increase of $0.4 billion. Operating profit margin* was 23.0%, a decrease of 10 basis points. Adjusted EPS* was $1.66, an increase of 38%.

For the six months ended June 30, 2025, continuing net income increased $0.9 billion compared to the six months ended June 30, 2024, driven by an increase in segment profit of $1.1 billion, and decreases of $0.2 billion in separation costs and $0.1 billion in interest and other financial charges. The increase was partially offset by an increase in provision for income taxes of $0.3 billion, due to higher net income before taxes, a decrease in gains on retained and sold ownership interests of $0.2 billion, primarily related to our prior investment in GE HealthCare, and an increase in Adjusted Corporate & Other operating costs* of $0.1 billion. Adjusted net income* was $3.4 billion, an increase of $1.0 billion, due to an increase in segment profit of $1.1 billion, partially offset by an increase in Adjusted Corporate & Other operating costs* of $0.1 billion.

Profit was $4.6 billion, an increase of $1.2 billion. Profit margin was 22.1%, an increase from 19.0%. Operating profit* was $4.5 billion, an increase of $1.0 billion. Operating profit margin* was 23.4%, an increase of 230 basis points. Adjusted EPS* was $3.14, an increase of 47%.

As of June 30, 2025, RPO increased $2.8 billion, or 2%, from December 31, 2024, at Commercial Engines and Services, as a result of engines contracted under long-term service agreements that have now been put into service and from equipment orders outpacing revenue recognized, and at Defense & Propulsion Technologies, primarily from engine orders outpacing revenue recognized.