GE Aerospace (GE) has had an impressive year so far, with its stock surging about 73% year-to-date, outpacing the S&P 500 Index's ($SPX) 22.6% gain over the same period. However, the stock took a serious hit on Tuesday, closing about 9% lower after its Q3 earnings release.
While GE Aerospace posted strong earnings that beat analysts' expectations, its revenue fell short due to ongoing supply chain issues. These challenges have delayed engine deliveries, particularly for narrowbody and widebody aircraft. In the third quarter, total engine deliveries dropped by 4%, including a 6% decline in LEAP engines, a key product for the company.
