GE Aerospace CEO Larry Culp reports progress in fixing supply issues, boosting jet engine deliveries and raising profit outlook for the year. Annual adjusted profit per share now expected to be $5.60 to $5.80. Company sees 45% increase in engine deliveries in second quarter, with LEAP engines up 38%. Stock up 1% in morning trade.

Despite challenges, GE Aerospace is dominating the narrowbody and widebody jet engine market. Limited engine supplies have delayed production of newer planes, causing airlines to rely on older, less fuel-efficient jets. President Trump’s tariffs expected to cost company $500 million this year, leading to cost controls and price increases.

GE Aerospace working to increase parts and material deliveries from suppliers by 10% in the second quarter. Company aims to continue pushing forward to meet booming demand for engines in the second half of the year. CEO Larry Culp emphasizes the need to keep striving for progress and is urging the White House to restore a tariff-free regime for the aerospace industry.

Read more at Yahoo Finance: GE Aerospace lifts profit outlook as engine deliveries soar