Start Time: 07:30 January 1, 0000 8:23 AM ET

General Electric Company (NYSE:GE)

Q3 2023 Earnings Conference Call

October 24, 2023, 07:30 AM ET

Company Participants

Larry Culp - Chairman and CEO

Rahul Ghai - GE Aerospace CFO

Steven Winoker - VP, IR

Conference Call Participants

Scott Deuschle - Deutsche Bank

Nigel Coe - Wolfe Research

Seth Seifman - JPMorgan

Julian Mitchell - Barclays

Sheila Kahyaoglu - Jefferies

Deane Dray - RBC Capital Markets

Andrew Kaplowitz - Citigroup

Jeffrey Sprague - Vertical Research Partners

Andrew Obin - Bank of America

Joseph Ritchie - Goldman Sachs

Christopher Snyder - UBS

Operator

Good day, ladies and gentlemen, and welcome to General Electric Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. My name is Liz and I will be your conference coordinator today. [Operator Instructions]. As a reminder, this conference is being recorded.

I would now like to turn the program over to your host for today's conference, Steve Winoker, Vice President of Investor Relations. Please proceed.

Steven Winoker

Thanks, Liz. Welcome to GE's third quarter 2023 earnings call. I'm joined by Chairman and CEO, Larry Culp; and CFO, Rahul Ghai. Some of the statements we're making are forward-looking and based on our best view of the world and our businesses as we see them today. As described in our SEC filings and on our Web site, those elements may change as the world changes.

Over to Larry.

Larry Culp

Steve, thank you and good morning, everyone. Before we start, I want to reiterate that the GE team stands firmly with our employees, customers, and all those impacted by the brutal Hamas attacks on Israel in the subsequent war. Our priority has been the safety of GE employees in the region. We're doing everything possible to support them and their families. Last week, GE announced $0.5 million contribution to help with the humanitarian efforts for the many people in Israel, Gaza and the surrounding areas impacted by these horrific events. Terrorism has no place in our society. And like so many, I'm devastated by the loss of lives, violence and suffering of innocent people.

Turning to the quarter, GE delivered a very strong performance and we're raising full year guidance again. GE Aerospace continues to experience rapid growth, driven by robust demand and solid execution largely in commercial engines and services, another significant quarter for the team. Our fleet of 41,000 commercial engines and 26,000 rotorcraft and combat engines continues to expand as we work to define the future of flight.