GE Aerospace Wins Deal From Qatar Airways to Supply Engines

GE Aerospace GE recently secured a contract from Qatar Airways to supply GE9X and GEnx engines. This marks the largest widebody engine deal in GE’s history.Since the launch of GEnx, the engine family has completed more than 62 million flight hours. Of late, more than 3,600 of these engines are in service and backlog, which includes the spare units. The GEnx engine is installed in two-thirds of all Boeing 787 aircraft currently in service.Per the deal, GE Aerospace will supply more than 400 engines, which include 60 GE9X and 260 GEnx engines, along with other spare parts, to power Qatar Airways’ Boeing 777-9 and 787 aircraft fleet. The latest contract will also involve GE providing maintenance, repair and overhaul services to Qatar Airways for the GEnx and GE9X engines. This order is a testimony to the long-standing collaboration between GE Aerospace and Qatar Airways, which currently has a strong GE-powered fleet. This new deal increases the airline’s total GE9X engine count to 248 and adds a significant number of GEnx engines to support its growing Boeing 787 fleet.GE’s Zacks Rank & Price PerformanceThe company currently carries a Zacks Rank #2 (Buy). GE Aerospace is benefiting from a growing installed base and higher utilization of engine platforms, driven by strong momentum and growth across the commercial and defense sectors. Rising U.S. & international defense budgets, geopolitical tensions, positive airline and airframer dynamics, and robust demand for commercial air travel augur well for the company.In the past six months, the company’s shares have gained 25.8% compared with the industry’s 8.3% growth.Image Source: Zacks Investment ResearchOther Stocks to ConsiderSome other top-ranked companies are discussed below:Leidos Holdings, Inc. LDOS currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.LDOS delivered a trailing four-quarter average earnings surprise of 23.7%. In the past 60 days, the Zacks Consensus Estimate for Leidos Holdings’ 2025 earnings has increased 1.5%.Howmet Aerospace Inc. HWM presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 8.8%.In the past 60 days, the consensus estimate for HWM’s 2025 earnings has increased 6.5%.The Gorman-Rupp Company GRC presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 2.4%.The Zacks Consensus Estimate for GRC’s 2025 earnings has increased a penny in the past 60 days.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Aerospace (GE): Free Stock Analysis Report Gorman-Rupp Company (The) (GRC): Free Stock Analysis Report Leidos Holdings, Inc. (LDOS): Free Stock Analysis Report Howmet Aerospace Inc. (HWM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks