Glancing at the Zacks Rank #1 (Strong Buy) list, the stocks of three iconic companies are standing out after they were able to exceed Q2 earnings expectations.Let’s take a quick peak and see why now is a good time to invest in these highly ranked stocks following their favorable quarterly results.1. Taiwan Semiconductor (TSM) Year to Date Performance: +55%One of the most searched-for stocks on Zacks.com is Taiwan Semiconductor, the world’s largest integrated circuit foundry company.The chip giant appears to ...

FARNBOROUGH, England, July 24, 2024 /PRNewswire/ -- GE Aerospace (NYSE: GE) announced that following EVA Air's recent deal to purchase four Boeing 787-10 Dreamliner aircraft, the airline has placed an order for GEnx engines to power their new aircraft. "We're thrilled EVA has selected our high performance GEnx engine to power its fleet expansion," said Russell Stokes, President and CEO, Commercial Engines and Services, GE Aerospace. "We look forward to ensuring GEnx engines continue providing outstanding ec ...

Key TakeawaysGE Aerospace, the inheritor of the "GE" ticker, closed at its highest level since early 2008 after posting strong results and boosting guidance.The results underscore a remarkable turnaround for the 132-year-old behemoth after a precipitous fall from grace. Earlier this year, GE completed a split into three separate companies focused on aviation, energy, and healthcare. Shares of GE Aerospace (GE) on Tuesday hit their highest level since early 2008 as second-quarter results showed the company' ...

GE Aerospace (GE) reported second-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.It’s worth noting that in April 2024, GE Aerospace emerged as a separate public company, following the spin-off of GE Vernova Inc. (GEV) from General Electric.Inside the HeadlinesThe company’s second-quarter adjusted earnings were $1.20 per share, which beat the Zacks Consensus Estimate of 97 cents. The bottom line surged 62.2% year over year.Total revenues were $9.09 ...

Strong aftermarket demand is pushing earnings higher.GE Aerospace (GE 7.13%) reported a stronger-than-expected quarter thanks to continued strong demand for airplane and engine spare parts. Investors are taking notice, sending shares of GE Aerospace up 8% as of noon ET.Strong pricing leads to an earnings beatGE Aerospace is the last vestige of onetime conglomerate General Electric. The company is a leading manufacturer of aircraft engines and other equipment.The company earned $1.20 per share in the second ...

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Tuesday.The Dow traded up 0.09% to 40,452.70 while the NASDAQ rose 0.62% to 18,119.84. The S&P 500 also rose, gaining, 0.32% to 5,582.32.Check This Out: How To Earn $500 A Month From Alphabet Stock Ahead Of Q2 Earnings ReportLeading and Lagging SectorsConsumer discretionary shares jumped by 1% on Tuesday.In trading on Tuesday, energy shares fell by 1.4%.Top HeadlineGE Aerospace GE reported better-than ...

Manjit Bains /iStock via Getty Images Introduction I'm not breaking any news when I say that I have started to really like GE Aerospace (NYSE:GE), a company I have increasingly covered since last year, when it was still General Electric. After two major spin-offs, the company is now a pure-play aerospace company, which comes with massive benefits in a world where both commercial and defense demand is booming. My most recent article was written on June 6, when I went with the title “Moat Monster: GE Aero ...

Financial Data and Key Metrics - Revenue impacted by lower output, but operating profit and free cash flow grew double-digit [10] - Operating profit was $1.9 billion, up 37% YoY, with operating margins expanding 560 basis points to 23.1% [15] - Adjusted EPS was $1.20, up more than 60% YoY, driven by increased operating profit and lower tax rate [16] - Free cash flow was $1.1 billion, up nearly 20%, driven by higher earnings [16] - Full-year profit and cash guidance raised, with operating profit expected to be $6.5 billion to $6.8 billion [24] Business Line Performance - Commercial Engines & Services (CES) saw profit growth of 21%, driven by 14% internal shop visits growth and improved pricing [10] - Defense & Propulsion Technologies (DPT) delivered profit growth of over 70% YoY, driven by services growth and profit improvement in Propulsion & Additive Technologies [10] - CES services revenue grew 14%, with mid-teens internal shop visit growth and improved pricing [18] - DPT revenue grew 1%, with Propulsion & Additive Technologies growing 16% [21] Market Performance - Air traffic trends remain positive, supporting services growth, with departures up 9% year-to-date [17] - LEAP engine deliveries down 29% due to supply chain constraints, but LEAP-powered Airbus 321XLR certified by EASA [8][18] - Defense sector remains resilient, with U.S. defense spending expected to grow low-single digits and international up mid-single digits [20] Company Strategy and Industry Competition - Focus on FLIGHT DECK operating model to improve safety, quality, delivery, and cost [13] - Investment of $1 billion in MRO facilities over the next five years to increase capacity and reduce turnaround time [14] - CFM RISE program advancing, with Open Fan design showing promise for reducing emissions and improving fuel efficiency [9] - GE Aerospace aims to grow operating profit to approximately $10 billion by 2028 [27] Management Commentary on Operating Environment and Future Outlook - Supply chain constraints remain a challenge, with 80% of material input shortages tied to nine suppliers across 15 sites [11] - Management confident in improving supply chain performance in the second half, with material input growth doubling sequentially in July [12][13] - Strong demand for both new engines and aftermarket services, with orders up 18% and services orders up 36% in CES [15][63] Other Important Information - GE Aerospace completed the sale of Electric Insurance and reached an agreement to sell the licensing business, resulting in proceeds of roughly $700 million [23] - Inventory growth of $1.2 billion in the first half, but free cash flow conversion remained strong at nearly 120% [56] Q&A Session Summary Question: CFM56 shop visits and extended life - CFM56 remains a workhorse of the industry, with utilization consistent YoY and potential for extended shop visits [30][31] - Shop visits for CFM56 expected to plateau at 2025 levels for a couple more years before declining [32] Question: Supplier bottlenecks and progress - Two-thirds of the 15 supplier sites showed strong improvement, with material flow more than doubling sequentially [34] - Management remains focused on resolving constraints at the remaining priority sites [12][35] Question: CES margins and second-half progression - CES margins improved due to strong services growth, pricing, and customer mix, with shop visits skewed towards time and material work [39][40] - Full-year CES profit guidance raised by $150 million to $200 million, with margins expected to remain flattish [41] Question: LEAP shipments and supply chain progress - LEAP shipments down 29% in Q2, but management expects flat to 5% growth for the full year [46] - July showed promising progress, with higher engine output and reduced variability [13][49] Question: Inventory and supply chain strategy - Inventory growth of $1.2 billion in the first half, but pace expected to slow in the second half [55] - Management focused on maintaining a predictable ramp and not penalizing well-performing suppliers [53][54] Question: RISE program and customer interest - RISE program, particularly Open Fan design, continues to gain customer interest, with over 200 hours of wind tunnel tests completed [71][72] - Customer conversations at Farnborough focused on sustainability and SAF compatibility [72] Question: LEAP breakeven timing - LEAP expected to be profitable in 2024 and breakeven in 2025, with services performance tracking better than expected [74] Question: Airline profit warnings and fleet planning - No significant impact on GE Aerospace's business from recent airline profit warnings, with strong demand for services and new engines [67][68]

Key TakeawaysGE Aerospace shares surged Tuesday after the company posted second-quarter earnings that beat analysts' estimates.The aerospace parts maker said orders for its engines and other products rose 18% year-over-year.GE Aerospace also lifted its guidance for the full fiscal year. GE Aerospace (GE) shares jumped over 6% in early trading Tuesday after the company's second-quarter earnings exceeded expectations as orders surged. The aerospace parts maker posted a 4% increase in revenue to $9.1 billion, ...

GE Aerospace second quarter 2024 performance Financial results & company highlights July 23, 2024 Caution concerning forward-looking statements: This document contains "forward-looking statements" – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see www.geaerospace.com/investo ...