GE Aerospace Q4 2025: Infinite backlog - 1.22.2026 (017)

GE Aerospace just booked $27 billion in orders in a single quarter—that’s more than the GDP of Iceland. But despite the massive headline number, the stock faded hard, ending the day down ~5%. Why? In this episode of Earnings Unscripted, Susie and Miro unpack the "mix trap" that’s squeezing margins even as revenue climbs. We explain why selling brand-new engines is actually a drag on profitability right now, and why the "batch to flow" factory transition is creating chaos on the shop floor.We also dig into the red flags hidden in the footnotes. From a collapsing margin in the Defense segment (down to 8.9%) to a $2 billion inventory pile-up caused by "golden screw" supply chain shortages, the execution risk is real. Plus, we expose a clever accounting reshuffle set for 2026 that moves the "nice furniture" (Aeroderivatives) into the Defense segment to fix the optics. If you want to know why Wall Street is wary of the "supercycle," this is the episode for you. ✈️📉