A maker of jet engines for aircraft, General Electric traces its roots to 1892, when financier J.P. Morgan merged Thomas Edison's electric-lighting company with the Thomson-Houston Electric Company to end a bitter patent war. The name 'General Electric' was chosen to signal ambition to cover the whole electric market. In 2024 the company split into three independent firms — GE Aerospace (jet engines), GE Vernova (power and wind turbines), and GE HealthCare (medical imaging).
Q2 2026 revenue rose 21% to $13.3B while operating income fell 22.9% to $2.20B from Q1.
Commercial Engines & Services growth cooled from prior quarters even as climbed. Revenue rose 21% to $13.3B and rose 22% to $2.02, but fell 22.9% to $2.20B from Q1 as higher engine deliveries and corporate costs pressured margins. The business is still growing, though is now visible quarter over quarter.
Key takeaways
Commercial Engines & Services grew 27% to $9.7B with profit up 20% to $2.7B, driven by a 25% rise in internal shop visit revenue and 24% more LEAP engine deliveries.
Total rose 21% to $13.3B, with equipment up 27% on engine deliveries and pricing and services up 24% on shop visits and spare parts.
Defense & Propulsion Technologies rose 16% to $3.4B and profit rose 18% to $475M on higher volume and price.
Section summaries
Management's Discussion and Analysis
Q2 2026 total revenue rose 21% to $13.3B, driven by 27% growth in Commercial Engines & Services on higher shop visits, spare parts, and engine deliveries.
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Total increased $2.3B (21%) in Q2, with equipment up 27% on higher engine deliveries and pricing, and services up 24% on internal volume, workscopes, and spare parts.
increased 19% to $2.1B and rose 22% to $2.02, reflecting higher profit partly offset by higher adjusted corporate costs.
was $4.7B for the first half, up $1.1B from the prior year, supported by higher and lower growth.
Total reached $210.8B, up 11% from year-end 2025, on commercial actions and defense equipment orders.
What changed
Q2 2026 followed the $1.49B Q1 print with a $4.7B first-half total, up $1.1B and continuing the $15B execution flagged after Q1.
CES profit growth slowed to 20% from 23% in Q1 2026 and 35% in Q3 2025, the trajectory earlier filings flagged to watch as prior-quarter rates faded.
was $18.2B at Q1 2026, down 3.4% from Q4 2025, after the $2.0B Q3 2025 issuance lifted it to $20.5B; buybacks have not dominated issuance this year.
Corporate losses on retained ownership interests were not quantified this quarter, but Q1 2026 was flat as a $0.5B gain was offset by $0.3B in such non-cash losses as the GE HealthCare exit finalizes.
Total RPO rose to $210.8B from $190.6B at FY2025 year-end, the demand signal earlier filings carried forward now up 11%.
What to watch
Q3 2026 after the $4.7B first-half print and continued $15B execution
CES profit trajectory as the 20% Q2 growth compares to 23% in Q1 and 35% in mid-2025
path after the $18.2B Q1 level and whether buybacks or new issuance dominate
Corporate losses on retained ownership interests as the GE HealthCare stake exit concludes
Commercial Engines & Services (CES) grew 27% to $9.7B, with profit up 20% to $2.7B; internal revenue rose 25%, and LEAP engine deliveries increased 24%.
Defense & Propulsion Technologies (DPT) rose 16% to $3.4B, with profit up 18% to $475M, driven by higher volume and price in both Defense & Systems and Propulsion & Additive Technologies.
increased 19% to $2.1B, and rose 22% to $2.02, reflecting higher partially offset by higher adjusted corporate costs.
was $4.7B for the first half, up $1.1B from prior year, supported by higher and lower growth.
Total reached $210.8B, up 11% from year-end 2025, driven by commercial actions and defense equipment orders.