GE(US:GE)2025-10-21 10:27Revenue and Income - Total revenue for the three months ended September 30, 2025, increased by $2.3 billion, or 24%, compared to the same period in 2024, reaching $12.181 billion[16] - Equipment revenue for the same period rose to $3.163 billion, up from $2.448 billion, while services revenue increased to $8.143 billion from $6.495 billion[18] - Net income from continuing operations for the three months ended September 30, 2025, was $2.174 billion, an increase of $0.5 billion compared to $1.705 billion in 2024[20] - Adjusted net income for the three months ended September 30, 2025, was $1.8 billion, reflecting an increase of $0.5 billion from the previous year[20] - Profit was $7.1 billion, an increase of $1.8 billion, with a profit margin of 21.6%, up from 19.1%[23] - Total revenue for the nine months ended September 30, 2025, was $33.138 billion, a 19% increase from $27.890 billion in 2024[87] - Adjusted revenue for the same period was $30.457 billion, up 21% from $25.241 billion in 2024[87] - Operating profit for the nine months ended September 30, 2025, was $6.783 billion, representing a 29% increase from $5.265 billion in 2024[87] - Profit margin for the nine months ended September 30, 2025, improved to 21.6%, compared to 19.1% in 2024[87] Cash Flow and Financing - Cash from operating activities was $6.4 billion for the nine months ended September 30, 2025, an increase of $1.9 billion compared to 2024, driven by higher net income[72] - Cash used for financing activities was $(5.9) billion for the nine months ended September 30, 2025, an increase of $1.4 billion compared to 2024, mainly due to increased treasury stock repurchases[76] - The company repurchased 23.2 million shares for $5.4 billion in 2025, with a total of $10.3 billion repurchased under the authorized program[64] - Free cash flow (FCF) for the nine months ended September 30, 2025, was $5,933 million, up from $4,674 million in the same period of 2024, indicating a 27% increase[94] - The company reported a net cash decrease of $868 million in cash, cash equivalents, and restricted cash for the nine months ended September 30, 2025[101] Investments and Manufacturing - The company is investing $1 billion in U.S. manufacturing and hiring 5,000 U.S. workers to support domestic manufacturing efforts[14] - The U.S. established a zero-for-zero tariff agreement on aerospace equipment with the EU, UK, and Japan, which is expected to reduce costs[15] Taxation - The effective income tax rate for the three months ended September 30, 2025, was 13.7%, up from 10.5% in the same period of 2024, with the provision for income taxes increasing to $0.3 billion[54] - The adjusted effective income tax rate for the nine months ended September 30, 2025, was 17.1%, down from 20.4% in the same period of 2024[57] - The effective income tax rate for the nine months ended September 30, 2025, was 14.2%, compared to 10.6% for the same period in 2024, influenced by various tax credits and benefits[159] Segment Performance - Total segment revenue for the three months ended September 30, 2025, was $8.88 billion, a 27% increase compared to $7.00 billion in Q3 2024[29] - Defense & Systems revenue for the three months ended September 30, 2025, was $1.777 billion, a 25% increase from $1.428 billion in Q3 2024[37] - Commercial Engines sales increased to 664 units in Q3 2025, up from 501 units in Q3 2024, representing a 32% increase[28] Assets and Liabilities - Total assets as of September 30, 2025, were $128,243 million, an increase from $123,140 million at the end of 2024[100] - Current liabilities increased to $37,203 million as of September 30, 2025, compared to $34,392 million at the end of 2024, reflecting an 8.2% rise[100] - Total borrowings reached $20,838 million as of September 30, 2025, up from $19,273 million at December 31, 2024, marking an increase of 8.1%[139] Research and Development - Research and development expenses increased to $1,132 million for the nine months ended September 30, 2025, up from $901 million in 2024, marking a 25.6% rise[99] Insurance Operations - Insurance operations generated revenue of $875 million for the three months ended September 30, 2025, compared to $899 million for the same period in 2024, showing a decrease of 2.7%[144] - Net income from insurance operations for the nine months ended September 30, 2025, was $567 million, up from $427 million in 2024, representing a growth of 32.8%[144] Legal and Compliance - Legal matters may have a material impact on results, but it is difficult to estimate potential losses due to the complexities involved[202]