Earnings Beat, Margins Narrow
Adjusted EPS came in at $2.02, topping the $1.86 estimate. GAAP earnings from continuing operations rose 23% to $2.30 per diluted share. Revenue increased 21% to $13.35 billion, beating the $11.85 billion estimate.
GAAP profit increased 17% to $2.80 billion, while adjusted operating profit rose 18% to $2.75 billion.
Adjusted operating margin declined 130 basis points to 21.7%, reflecting higher installation-engine volumes, investments, and inflation.
Total orders climbed 17% to $16.53 billion, while backlog exceeded $210 billion.
