GE Aerospace Q3 2025 Earnings: A Deep Dive into the 10-Q Filing

General Electric, now operating as the aerospace-focused powerhouse GE Aerospace, recently released its financial results for the third quarter of 2025. Digging into the company's latest 10-Q filing with the SEC reveals a story of robust growth, particularly in its core aviation markets. Let's break down the key numbers to see how the company is performing.

For the three months ending September 30, 2025, GE reported total revenue of $12.2 billion, a significant 24% increase from the $9.8 billion generated in the same quarter last year. This top-line growth translated impressively to the bottom line, with net income climbing to $2.2 billion, up from $1.7 billion in the prior-year period. This resulted in a diluted earnings per share (EPS) of $2.04, a healthy jump from $1.56.

To better visualize how GE's revenue flows through its costs to generate profit, the following chart breaks down the income statement.

In the chart, you'll notice an "Unallocated" revenue line of $473 million. This figure primarily represents GE's run-off insurance business revenue of $875 million, offset by inter-company eliminations. The negative unallocated cost of revenue (-$158 million) is a reconciliation item that aligns the costs reported by the business segments with the total GAAP-reported cost of revenue.

Engines of Growth: A Look at the Segments

GE's performance is powered by its two primary business divisions, both of which fired on all cylinders this quarter.

• Commercial Engines & Services: This division, which serves the global airline industry, continues to be the main growth driver. It posted revenue of $8.9 billion, a 27% surge year-over-year. More importantly, its segment profit grew even faster, rising 35% to $2.4 billion. The filing attributes this strong performance to a higher volume of internal shop visits for engine maintenance, increased sales of spare parts, and more engine deliveries—all clear indicators of a thriving commercial aviation market.

• Defense & Propulsion Technologies: The defense side of the business also demonstrated impressive momentum. Revenue hit $2.8 billion, up 26% from the previous year. Segment profit saw a remarkable 75% increase to $386 million. This growth was fueled by higher deliveries of defense engines and aircraft systems, reflecting strong and sustained government demand.

Cost and Investment

While revenues soared, the company managed its cost structure effectively. The total cost of revenue was $7.8 billion. GE also continued to invest in its future, dedicating $415 million to research and development (R&D), a critical expense for maintaining a technological edge in the competitive aerospace and defense industry.

In conclusion, GE Aerospace's third-quarter results paint a picture of a company capitalizing on powerful tailwinds in its key markets. The sustained recovery in global air travel is boosting its commercial division, while a robust defense spending environment is lifting its military-focused segment. As a newly independent, pure-play aerospace leader, GE appears well-positioned to convert this strong market demand into continued financial success.