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CLAIM #26490 · GE (GE) · 2025Q3 earnings call · Oct 21, 2025 · due Dec 31, 2026

So you put all that together, productivity is a plus, but we're facing inflation. We have the 9X losses. So we expect kind of margin expansion opportunities to be limited here.

Rahul Ghai · CFO

PENDING
graded after results covering Dec 31, 2026 are reported

How to check this claim

Look at: Total company operating margin, full fiscal year 2026 vs full fiscal year 2025

It came true if: FY2026 operating margin expansion <= 1.0 percentage point versus FY2025 (i.e., limited expansion, not the double-digit medium-term step-up)

Where: Company income statement / segment margin disclosures (10-K and Q4 2026 earnings release)

In context

be -- '26 growth to be kind of at the '25 levels, but it will start normalizing towards our double-digit levels that we had projected over the medium term. And then on the new business -- new equipment business, obviously, the backlog is very strong. And we expect, call it, 2,000 LEAP engine shipments and then incremental 9X shipments here because our volume assumptions on 9X have not changed since we were together back in July. And we do expect 9X losses to kind of double on a year-over-year basis or more than double on a year-over-year basis as we think about '26. So that will offset some of the positive drop-through that we will see from services. So -- and then DPT, I think we expect continued kind of mid-single-digit revenue growth, some margin expansion that we outlaid back in July. So you put all that together, productivity is a plus, but we're facing inflation. We have the 9X losses. So we expect kind of margin expansion opportunities to be limited here. But we are optimistic as we look at '26. We expect revenue growth, strong revenue growth, profit growth, cash, and we think of '26 kind of as a step along the way to 2028. So that's our current thinking. Obviously, you put a sharper point on it. Larry, anything to add? H. Culp: No, just maybe that, right? We're just in the process of wrapping up our strategy reviews. We'll spend the fourth quarter working through the details of the '26 budget. I think Rahul did a nice job there providing the general contours of that work that is underway. We'll take the Board through it at the end of the year, and then we'll come back in earnings and talk about '26 in more detail is basically our practice here. But I think net-net, we're more or less in line with the '28 framework we talked about back in

Verify independently

SEC filings for GE · Claim quote is verbatim from the 2025Q3 earnings call.