ASIM, Jan 23
GE Aerospace (NYSE:GE) announced results today for the fourth quarter and full year ending December 31, 2024.
GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. said, “GE Aerospace delivered a strong finish to 2024 given robust demand for our services and products with fourth quarter orders up 46%, EPS more than doubling, and free cash flow increasing over 20%. Our performance capped off a monumental first year as a standalone company with $1.7 billion of profit growth and $1.3 billion of free cash flow growth.”
Culp continued, “Looking to 2025, we expect double-digit revenue and EPS growth with greater than 100% free cash flow conversion. Guided by FLIGHT DECK, our proprietary lean operating model, I’m confident in our ability to accelerate output and deliver for our customers.”
Fourth quarter 2024:
- Total orders of $15.5B, +46%
- Total revenue (GAAP) of $10.8B, +14%; adjusted revenue* $9.9B, +16%
- Profit (GAAP) of $2.3B, +37%; operating profit* $2.0B, +49%
- Profit margin (GAAP) of 21.2%, +350 bps; operating profit margin* 20.1%, +450 bps
- Continuing EPS (GAAP) of $1.75, +62%; adjusted EPS* $1.32, +103%
- Cash from Operating Activities (GAAP) of $1.3B, +5%; free cash flow* $1.5B, +21%
Full year 2024:
- Total orders of $50.3B, +32%
- Total revenue (GAAP) of $38.7B, +9%; adjusted revenue* $35.1B, +10%
- Profit (GAAP) of $7.6B, (27)%; operating profit* $7.3B, +30%
- Profit margin (GAAP) of 19.7%, (980) bps; operating profit margin* 20.7%, +330 bps
- Continuing EPS (GAAP) of $6.09, (27)%; adjusted EPS* $4.60, +56%
- Cash from Operating Activities (GAAP) of $5.8B, +26%; free cash flow* $6.1B, +28%