“And given the strength of our balance sheet, we're increasing our share repurchases to $7 billion and planning to raise our dividend by 30%, subject, of course, to Board approval.”

In context

“n Defense & Propulsion Technologies, fourth quarter orders were up 22%, and defense units nearly doubled sequentially. For the full year, revenue was up 6% and profit increased 17% to $1.1 billion. Looking ahead to 2025, we're maintaining this momentum as we aim to deliver another year of substantial revenue, EPS, and cash growth. We expect departures growth of mid-single digits and increased military spending. This supports solid low double-digit revenue growth, including growth in CES and DPT. We expect profit in the range of $7.8 billion to $8.2 billion. This, combined with a lower share count, will translate to EPS in the range of $5.10 to $5.45, up 15% at the midpoint. For free cash flow, we expect to generate $6.3 billion to $6.8 billion, with conversion remaining robust above 100%. And given the strength of our balance sheet, we're increasing our share repurchases to $7 billion and planning to raise our dividend by 30%, subject, of course, to Board approval. Overall, GE Aerospace is, I believe, an exceptional franchise with a tremendous financial profile. Stepping back, between 2023 and 2025, taking the midpoint of our guide, we expect to grow profit $2.5 billion and free cash flow nearly $2 billion over this two-year period. Today, we're focused on keeping our customers' fleets flying and delivering on our new engine backlog. Our team is using FLIGHT DECK to tackle supply chain constraints head on. From the first half to the second half of 2024, we delivered meaningful improvement as material inputs increased 26% across our priority supplier sites. This, in turn, supported CES services revenue growth of 17% and engine unit growth of 18%, with defense and commercial both up double digits, including LEAP up 12%. We're encouraged by our progres”