GE Returned $18 Billion to Shareholders Last Year. These Engines Are Driving the Numbers.
April 23, 2014
In 2012, Chicago-based United Airlines became the first American commercial carrier to fly a Boeing 787 Dreamliner powered by GE’s next-generation GEnx engines. The airline may soon operate the world’s largest Dreamliner fleet powered by the engines.
GE engineers spent a decade developing the GEnx. They designed unique carbon fiber composite blades that spin inside the engine’s giant 111-inch fan and shed hundreds of pounds from other parts.
In 2011, a Dreamliner with GEnx engines flew halfway around the world on a tank of gas, and then finished the job on the next tank. The plane completed the journey in 42 hours and 27 minute, the world record for this type of aircraft.
Today, the GEnx is GE’s most advanced jet engine in service. GE has $35 billion in orders and commitments for the engine, and it contributes to GE’s record $245 billion backlog.
That backlog will be highlighted at the GE’s annual shareholder meeting, which starts in Chicago on Wednesday. “Progress is an important concept,” says Jeff Immelt, GE chairman and CEO. “It’s important for investors to think about day-in-and-day-out execution that over a long period of time makes a big difference.”
GE has been growing earnings-per-share each year since 2009, expanding margins and focusing on organic growth that underpins dividend payments, which were raised 16 percent at the end of last year. Take a look at our infographic that illustrates the numbers. You can find out more about GE’s advanced technologies here.