General Electric (GE) Q1 FY2026 earnings: revenue $12.4 billion, up 24.7% on the year

General Electric Co. (GE) reported revenue of $12.4 billion for Q1 FY2026, the quarter ended 31 March 2026, up 24.7% on the same quarter a year earlier. Net income was $1.9 billion, down 3.7% on the year, and diluted earnings per share $1.81. The figures are the company's own, from the 10-Q it filed with the SEC on 21 April 2026.

Revenue

$12.4 billion

+24.7% on the year · -2.5% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

17.9%

19.6% a year earlier

Q2 FY2024Q1 FY2026

Net income

$1.9 billion

-3.7% on the year · -25.1% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.81

-1.1% on the year · -21.6% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 kept.

Orders up 87%, revenue up 29%: Total orders were $23.0B, up 87%. Total GAAP revenue was $12.4B, up 25%, and adjusted revenue, which excludes run-off insurance, was $11.6B, up 29%.
Operating profit up 18%, GAAP profit down: Operating profit was $2.5B, up 18%, while GAAP profit was $2.2B, down 2%. Adjusted EPS rose 25% to $1.86; continuing EPS was $1.83, flat year over year.
Commercial engines profit up 23%: CES revenue was $8.9B, up 34%, with operating profit of $2.4B, up 23%. Management attributed the profit increase to higher services volume, price, and the absence of charges.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	12,392	12,716	9,935	-2.5%	+24.7%
Cost of revenue	7,922	8,365	5,995	-5.3%	+32.1%
Gross profit	4,470	4,351	3,940	+2.7%	+13.5%
Gross margin	36.1%	34.2%	39.7%
Research and development	440	447	359	-1.6%	+22.6%
Selling, general and administrative	1,084	997	876	+8.7%	+23.7%
Operating income	2,214	2,249	1,943	-1.6%	+13.9%
Operating margin	17.9%	17.7%	19.6%
Pre-tax income	2,198	2,851	2,245	-22.9%	-2.1%
Income tax	252	390	283	-35.4%	-11.0%
Effective tax rate	11.5%	13.7%	12.6%
Net income	1,904	2,541	1,978	-25.1%	-3.7%
Net margin	15.4%	20.0%	19.9%
Diluted EPS	$1.81	$2.31	$1.83	-21.6%	-1.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	1,823	2,281	1,509	-20.1%	+20.8%
Capital expenditure	331	431	208	-23.2%	+59.1%
Free cash flow	1,492	1,850	1,301	-19.4%	+14.7%
Free cash flow margin	12.0%	14.5%	13.1%
Cash from investing	-919	305	-317
Cash from financing	-2,831	-2,826	-2,284
Depreciation and amortisation	227	220	210	+3.2%	+8.1%
Buybacks	2,399	1,997	1,965	+20.1%	+22.1%
Dividends paid	381	381	302	0.0%	+26.2%
Dividend per share	$0.47	n/a	$0.36		+30.6%
Diluted shares, weighted	1,054m	1,068m	1,078m	-1.3%	-2.2%
Shares outstanding at period end	1,043m	1,049m	1,066m	-0.5%	-2.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	18,057	18,677	19,251	-3.3%	-6.2%
Non-controlling interest	240	221	217	+8.6%	+10.6%
Debt	20,276	20,494	19,571	-1.1%	+3.6%
Operating lease liabilities	762	783	862	-2.7%	-11.6%
Other liabilities	89,110	89,994	84,222	-1.0%	+5.8%
Total liabilities and equity	128,445	130,169	124,123	-1.3%	+3.5%
Goodwill	9,003	9,060	8,696	-0.6%	+3.5%
Intangible assets	4,151	4,225	4,277	-1.8%	-2.9%
Investments	38,193	38,788	38,010	-1.5%	+0.5%
Cash and equivalents	10,981	12,392	12,405	-11.4%	-11.5%
Receivables	12,466	11,773	9,653	+5.9%	+29.1%
Inventory	12,367	11,868	10,504	+4.2%	+17.7%
Other assets	41,284	42,063	40,578	-1.9%	+1.7%
Total assets	128,445	130,169	124,123	-1.3%	+3.5%

Questions

What was General Electric's revenue in Q1 FY2026?

General Electric (GE) reported revenue of $12.4 billion for Q1 FY2026, the quarter ended 31 March 2026, up 24.7% on the same quarter a year earlier.

How much did General Electric earn in Q1 FY2026?

Net income for Q1 FY2026 was $1.9 billion, down 3.7% on the year, and diluted earnings per share $1.81.

When did General Electric report Q1 FY2026 results?

General Electric filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 21 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 †	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 †	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 †	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	15,679	12,675	14,127	14,470	16,828	7,836	8,755	9,302	9,456	8,955	9,094	9,842	10,812	9,935	11,023	12,181	12,716	12,392	13,349	14,118
Cost of revenue	11,605	9,774	10,525	11,534	12,440	4,998	5,693	5,992	6,256	5,747	5,574	6,226	6,761	5,995	6,846	7,762	8,365	7,922	8,673	9,096
Gross profit	4,074	2,901	3,602	2,936	4,388	2,838	3,062	3,310	3,200	3,208	3,520	3,616	4,051	3,940	4,177	4,419	4,351	4,470	4,676	5,022
Gross margin	26%	23%	25%	20%	26%	36%	35%	36%	34%	36%	39%	37%	37%	40%	38%	36%	34%	36%	35%	36%
R&D	705	403	439	426	790	431	239	247	550	270	300	331	385	359	359	415	447	440	460	458
SG&A	3,203	2,725	1,817	1,966	3,542	2,142	913	1,001	2,524	1,026	924	1,330	1,157	876	1,020	1,195	997	1,084	1,131	1,114
Operating income	-9,157	-1,229	261	-410	-4,895	-6,239	1,013	1,178	-8,986	981	1,510	872	1,994	1,943	2,091	2,230	2,249	2,214	2,489	2,373
Operating margin	-58%	-10%	2%	-3%	-29%	-80%	12%	13%	-95%	11%	17%	9%	18%	20%	19%	18%	18%	18%	19%	17%
Pre-tax income	-3,468	-1,180	-966	-232	2,236	6,492	1,509	333	2,009	1,987	1,447	1,893	2,293	2,245	2,389	2,515	2,851	2,198	2,801	2,805
Tax rate	n/a	n/a	n/a	n/a	-3%	4%	17%	8%	21%	12%	9%	10%	17%	13%	16%	14%	14%	11%	15%	14%
Net income	-3,853	-1,136	-882	161	2,197	7,506	33.0	352	1,591	1,537	1,266	1,852	1,899	1,978	2,028	2,157	2,541	1,904	2,370	2,288
Net margin	-25%	-9%	-6%	1%	13%	96%	0%	4%	17%	17%	14%	19%	18%	20%	18%	18%	20%	15%	18%	16%
Diluted EPS	-$3.55	-$1.08	-$0.78	-$0.21	$1.93	$6.71	-$0.02	$0.23	$1.45	$1.39	$1.15	$1.70	$1.75	$1.83	$1.89	$2.02	$2.31	$1.81	$2.26	$2.20
Operating cash flow	2,432	-556	550	1,423	4,499	-259	474	1,823	3,141	994	913	1,508	1,297	1,509	2,246	2,501	2,281	1,823	3,195	2,152
Capital expenditure	355	239	320	297	414	279	365	402	530	421	78.0	266	267	208	327	307	431	331	335	336
Free cash flow	2,077	-795	230	1,126	4,085	-538	109	1,421	2,611	573	835	1,242	1,030	1,301	1,919	2,194	1,850	1,492	2,860	1,816
Buybacks	n/a	39.0	331	318	360	309	323	313	288	322	2,301	1,536	1,668	1,965	1,745	1,844	1,997	2,399	2,128	1,979
Dividends paid	144	140	154	161	184	203	147	151	88.0	86.0	308	308	306	302	386	383	381	381	492	489
Shares outstanding	1,099m	1,101m	1,097m	1,093m	1,089m	1,089m	1,088m	1,088m	1,088m	1,095m	1,084m	1,082m	1,074m	1,066m	1,060m	1,055m	1,049m	1,043m	1,038m	1,033m
Filing	8-K	10-Q	8-K	8-K	8-K	10-K	10-Q	10-Q	10-K	10-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 21 April 2026: the filing.