GE Aerospace (GE) released a letter providing updates on the company’s “busy” fourth quarter. Of note, the company said it is positioned to deliver continued revenue, profit, and free cash flow growth in 2025. In CES, services is expected to be up low-double-digits from significant backlog of shop visit demand, LEAP services growth, mature fleets flying longer, and pricing. Both internal shop visits and spare parts will contribute to our growth, with spare part sales expected to be in-line with overall services growth. “We expect that OE will grow faster than services, including LEAP output up 15-20% aligned with Safran’s comments yesterday,” said GE Aerospace. “We also continue to expect LEAP program will achieve breakeven next year and will no longer be a headwind to GE Aerospace margins. We continue to work through our expectations for 9X, but we expect shipments to grow. In DPT, we continue to expect revenue grows MSD/HSD and profit grows faster than revenue. We look forward to providing further color on our 2025 guidance at ourearnings callin January.”
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