GE Aerospace CEO Says Hybrid-Electric Transatlantic Flight Proves Next-Gen Propulsion Is Coming

EarningsProduct / Tech
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Summary · why it matters

GE Aerospace CEO Larry Culp announced that the company's SAAB A340 testbed completed the first high-altitude hybrid-electric transatlantic flight, calling it a strong proof point for next-generation commercial propulsion. The flight, conducted with Boeing, Beta Technologies, and NASA, was revealed alongside second-quarter results that beat estimates with adjusted earnings per share of $2.02 and a raised full-year EPS guidance of $7.65 to $7.85. Culp highlighted a $210 billion engine and services backlog, with Boeing's 737 program running at 42 per month and its $695 billion commercial backlog fueling demand for GE's LEAP and GEnx engines. LEAP engine deliveries rose 24% in the quarter, and a durability kit already retrofitted on 40% of the fleet is targeting a roughly twofold improvement in time on wing. GE Aerospace shares opened at $348.83 on Monday, up 13.55% year to date.

Impact on stocks 4

Aerospace & Aviation▲ · 2 stocks
GE Aerospace
GE
▲ PositiveTechnologyCapitalrelevance

GE Aerospace's hybrid-electric transatlantic flight proves next-gen propulsion, a key technology milestone.

The Boeing Company
BA
▲ PositiveDemandrelevance

Boeing's $695B commercial backlog and 737 program at 42/month drive demand for GE's LEAP and GEnx engines, benefiting Boeing's supply chain and program stability.

Advanced Air Mobility (eVTOL)▲ · 1 stocks
Beta Technologies, Inc.
BETA
▲ PositiveTechnologyrelevance

Beta Technologies participated in the hybrid-electric flight test, validating its technology and partnership with GE and Boeing.

Artificial Intelligence▲ · 1 stocks

Theme Impact 3

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