General Electric Co

GE

Equity

ISIN US3696043013 / Valor 112258433

New York Stock Exchange, Inc (2024-11-20)

USD 177.98+0.24%

General Electric Co
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About company

General Electric Co, operating under the business name GE Aerospace, is a prominent entity in the aerospace industry, recognized for its comprehensive range of products and services tailored to aviation. The company specializes in the design, manufacture, and service of jet and turboprop engines, which are critical components for a variety of aircraft including commercial, military, business, and general aviation. Beyond engines, GE Aerospace extends its expertise to integrated systems, offering a holistic approach to aviation technology solutions. This focus on both propulsion systems and integrated aircraft systems positions GE Aerospace as a key player in supporting the operational needs and advancements within the global aviation sector.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

General Electric Co (doing business as GE Aerospace) reported a significant increase in revenue for the first quarter of 2024. The adjusted revenue for GE Aerospace stood at $8.1 billion, marking a 15% growth compared to the same period in the previous year. This growth was driven by higher pricing, increased spare parts volume, and a rise in deliveries in both widebody and defense sectors.

Profit Increase

GE Aerospace saw a substantial rise in operating profit for the first quarter of 2024. The operating profit reached $1.5 billion, which is a 24% increase year-over-year. This improvement was attributed to double-digit profit growth in both Commercial Engines & Services and Defense & Propulsion Technologies segments.

Order Volume

In the first quarter of 2024, GE Aerospace reported a total order volume of $11.0 billion, reflecting a 34% increase from the previous year. This surge in orders was observed across both Commercial Engines & Services and Defense & Propulsion Technologies, indicating strong market demand and business performance.

Profit Margin Expansion

GE Aerospace's operating profit margin for the first quarter of 2024 expanded to 19.1%, up by 140 basis points from the same period last year. The margin expansion was primarily driven by favorable pricing, increased services volume, and some benefits from lower equipment output.

Full-Year Guidance Update

Based on the strong performance in the first quarter of 2024, GE Aerospace has updated its full-year guidance. The company now expects operating profit to be in the range of $6.2 billion to $6.6 billion, an increase from the previous guidance of $6.0 billion to $6.5 billion. Additionally, GE Aerospace anticipates free cash flow to exceed $5 billion with over 100% conversion.

Summarized from source with an LLMView Source

Key figures

48.2%1Y

137%3Y

160%5Y

Performance

34.5%1Y

32.4%3Y

40.4%5Y

Volatility