GE Aerospace Q3 10-Q: Revenue Up 16%, Adjusted EPS $2.25, RPO $212B
GE sits 18% above its 52-week low of $268.91.
Summary
GE Aerospace's Q3 10-Q confirms 16% revenue growth, 36% adjusted EPS growth and a $212B backlog, while disclosing a $328M insurance charge and new IRS audit language on 2016-2020 tax returns.
Key Events · Earnings and Guidance · GE
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Q3 Revenue $14.1B, Up 16%
Total revenue rose to $14,118M from $12,181M, with services up 15% to $9,361M and equipment up 24% to $3,924M. Continuing diluted EPS was $2.32 and adjusted EPS $2.25, up 36%.
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Backlog Climbs to $212.1B
Total remaining performance obligation reached $212,084M, up $21.5B or 11% from December 31, 2025, led by CES services at $170.2B and DPT equipment at $23.1B.
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$328M Insurance Reserve Charge
The 2026 annual review of future policy benefit assumptions drove a $328M pre-tax charge ($259M after-tax), mainly long-term care claims experience and cost-of-care inflation, partly offset by premium rate increases.
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IRS May Assert Material Back Taxes
Since March 2026 the IRS has issued Acknowledgement of Facts IDRs on the 2016-2020 audit covering pre- and post-2017 tax computations. GE says accrued amounts are sufficient but the IRS may assert a material amount of additional taxes and penalties; resolution is not likely within 12 months.
Analysis · GE · Manufacturing
The 10-Q puts hard GAAP numbers behind this morning's earnings release: revenue of $14.1B (+16%), continuing EPS of $2.32 and adjusted EPS of $2.25 (+36%), with operating margin up 220 bps to 22.5%. The backlog is the real story — total RPO of $212.1B, up 11% since December, with services at $178.7B — which underpins the low-double-digit 2027 services growth management guided to. Two items cut against the clean quarter: the annual insurance reserve review produced a $328M pre-tax charge, and the filing newly flags that the IRS has been sending information document requests since March 2026 and may assert a material amount of additional taxes and penalties on the 2016-2020 returns. Neither changes the operating thesis, but the IRS language is a live, unquantified liability that was not in the earnings release.
How filings like this one have moved
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At the time of this filing, GE was trading at $317.85 on NYSE in the Manufacturing sector, with a market capitalization of approximately $323B. The 52-week trading range was $268.91 to $388.84. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.