Overview
- Adjusted EPS came in at $1.57 versus the $1.43 consensus, with adjusted revenue of $11.87 billion exceeding the $11.19 billion estimate.
- For 2026, the company guided to adjusted EPS of $7.10 to $7.40, low double-digit revenue growth, and free cash flow of $8.0 billion to $8.4 billion.
- Quarterly orders jumped 74% year over year to about $27 billion, reinforcing a backlog described as roughly $190 billion.
- More than 70% of commercial engine revenue stems from parts and services, and management said free cash flow conversion exceeded 100% in 2025.
- Production momentum included a record 1,802 LEAP engines delivered in 2025 with a further 15% delivery increase expected in 2026, while Defense posted a 2.2x book-to-bill.