General Electric Company
- General Electric Aerospace soared 4% to $156.32 after the company reported better-than-expected quarter results.
GE Aerospace revenue in the first quarter increased 15% to $8.1 billion, and diluted earnings per share were 92 cents.
Consolidated revenue in the quarter, which included GE Vernova prior to its spinoff, rose 11% to $16.1 billion, and diluted earnings per share rose to $1.38.
Free cash flow in the quarter was $1.7 billion.
GE Aerospace reported new orders increased by 34% to $11 billion, reflecting strong demand for commercial engines and services.
For the full fiscal year 204, the company estimated free cash flow to exceed $5 billion and adjusted diluted earnings per share in the range of $3.80 and $4.05.
The company also estimated commercial jet engines and services revenue to increase in the mid-to-high teens and defense and propulsion technologies revenue to rise in the mid-to-high single-digits.
Apr 23, 2024 - General Electric declined 3% to $127.30 after the industrial engineering company estimated weaker-than-expected first quarter results.
The company's fourth-quarter results were ahead of market expectations, but investors focused on the current quarter's business conditions.
Total revenue in the fourth quarter increased 15% to $19.4 billion from $16.8 billion, net income declined 28% to $1.6 billion from $2.2 billion, and diluted earnings per share dropped to $1.44 from $1.53 a year ago.
For the first quarter of 2024, GE expects to deliver "high-single-digit" revenue growth, adjusted earnings per share of 60 cents to 65 cents, and free cash flow "in-line with net income growth."
The company repurchased approximately 2.2 million common shares for $0.3 billion in the fourth quarter, bringing the total common shares repurchased under the program in 2023 to approximately 10.6 million shares for $1.1 billion.
In addition, the company redeemed all outstanding preferred stock for $5.8 billion during 2023.
Jan 23, 2024 - General Electric Company increased 7.4% to $114.47 after the engineering and healthcare company reported stronger-than-expected third quarter earnings.
Revenue in the third quarter rose 20% to $17.4 billion from $14.5 billion, driven primarily by increases in the aerospace and renewable energy segments.
GE Aerospace orders rose 34% and revenue jumped 25%, led by commercial engines and services, and defense orders rose 8%.
Renewable energy segment revenue rose 14%, driving revenue growth at GE Vernova.
Net income attributable to shareholders increased to $258 million from $88 million, and diluted earnings per share rose to 24 cents from 8 cents a year ago.
General Electric is set to trade as two independent companies, GE Aerospace and GE Vernova, in the second quarter of 2024.
Oct 24, 2023 - General Electric Company increased 4.5% to $115.57 after the engineering company reported stronger-than-expected quarterly earnings.
Total revenue increased 18% to $16.7billion from $14.1 billion and net loss attributed to shareholders shrank to $23 million from $949 million and diluted loss per share fell to 2 cents from 86 cents a year ago.
The company monetized its 32% stake in GE HealthCare for $2.2 billion and plans to redeem all its outstanding preferred shares for $2.8 billion on September 15.
The company also lifted its full-year earnings outlook on the strong demand for its engines and products in the aerospace division and record orders in its renewable energy business.
The company revised its organic revenue growth outlook in the low-double-digit range, up from the high-single-digit range and adjusted earnings per share range to between $2.10 and $2.30, up from the previous range between $1.70 and $2.00.
The company guided free cash flow between $4.1 and $4.6 billion, up from the previous estimate range between $3.6 and $4.2 billion.
Jul 25, 2023
| Year | Mar | Jun | Sep | Dec | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 6.71 | -0.02 | 0.23 | - | - | |
| 2022 | -0.99 | -0.78 | -0.21 | 1.93 | - | |
| 2021 | -0.33 | -1.12 | 1.08 | -3.48 | -3.85 | |
| 2020 | 0.7 | -0.26 | -0.13 | 0.27 | 0.58 | |
| 2019 | 0.4 | -0.01 | -1.08 | 0.06 | -4.99 | |
| 2018 | -0.14 | 0.07 | -2.62 | 0.07 | -2.62 | |
| 2017 | 0.21 | 0.28 | 0.29 | 0.27 | 1.05 | |
| 2016 | 0.21 | 0.51 | 0.32 | 0.46 | 1.5 | |
| 2015 | 0.31 | 0.31 | 0.32 | 0.52 | 1.46 | |
| 2014 | 0.30 | 0.35 | 0.35 | 0.50 | 1.5 | |
| 2013 | 0.34 | 0.30 | 0.31 | 0.32 | 1.27 | |
| 2012 | 0.29 | 0.29 | 0.33 | 0.38 | 1.29 | |
| 2011 | 0.31 | 0.35 | 0.22 | 0.35 | 1.23 | |
| 2010 | 0.17 | 0.28 | 0.18 | 0.43 | 1.06 | |
| 2009 | 0.26 | 0.25 | 0.23 | 0.27 | 1.01 | |
| 2008 | 0.43 | 0.51 | 0.43 | 0.35 | 1.72 | |
| 2007 | 0.44 | 0.52 | 0.54 | 0.67 | 2.17 | |
| 2006 | 0.42 | 0.48 | 0.47 | 0.63 | 2 | |
| 2005 | 0.37 | 0.44 | 0.44 | 0.32 | 1.57 |