GENERAL ELECTRIC CO

For the year ended December 31, 2025, total revenue increased $7.2 billion, or 18%, compared to the year ended December 31, 2024. Equipment revenue increased, driven by increased engine deliveries and price. Services revenue increased, primarily due to increased internal shop visit volume and workscopes and higher spare parts volume.

82025 FORM 10-K

For the year ended December 31, 2025, net income from continuing operations increased $1.9 billion compared to the year ended December 31, 2024, driven by an increase in segment profit of $2.0 billion, a decrease in in restructuring and other charges of $0.6 billion, a decrease in separation costs of $0.3 billion, a decrease in goodwill impairment losses of $0.3 billion and a decrease in interest and other financial charges of $0.1 billion. These increases were partially offset by an increase in provision for income taxes of $0.4 billion, due to higher net income before taxes, a decrease in gains on sales of business interests of $0.4 billion, a decrease in gains on retained and sold ownership interests and other equity securities of $0.2 billion, and an increase in Adjusted Corporate & Other operating costs* of $0.2 billion. Adjusted net income* was $6.8 billion, an increase of $1.8 billion, due to an increase in segment profit of $2.0 billion, partially offset by an increase in Adjusted Corporate & Other operating costs* of $0.2 billion.

Profit was $10.0 billion, an increase of $2.4 billion. Profit margin was 21.8%, an increase of 210 basis points. Operating profit* was $9.1 billion, an increase of $1.8 billion. Operating profit margin* was 21.4%, an increase of 70 basis points. Adjusted EPS* was $6.37, an increase of 38%.

Remaining performance obligation (RPO) is unfilled customer orders for products and product services (expected life of contract sales for product services) excluding any purchase order that provides the customer with the ability to cancel or terminate without incurring a substantive penalty. See Note 25 for further information.

As of December 31, 2025, RPO increased $18.9 billion, or 11%, from December 31, 2024, primarily at Commercial Engines & Services, as a result of contract modifications and 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, driven by Defense & Systems equipment orders outpacing revenue recognized.