The aerospace company's broad-based exposure to the commercial aerospace markets means it can benefit from various end-market conditions.GE Aerospace (GE 0.89%) received a slew of upgrades following its first-quarter earnings report, including one from Bank of America analyst Ronald Epstein, who raised the price target to $180 from $165 while maintaining a buy rating.The target represents a 14% upside from the current price. According to The Fly, it reflects GE's "unique portfolio" of assets, including narr ...

(Photo by Jaap Arriens/NurPhoto via Getty Images)NurPhoto via Getty ImagesOn April 23, 2024, GE Aerospace (NYSE: GE, $161.26, Market Capitalization: $176.5 billion) reported robust 1Q24 results, with a strong beat on EPS versus consensus. It should be noted that as GE Vernova was spun off from GE on April 2, and Vernova remained a part of the consolidated company for 1Q24. The company released consolidated results for General Electric General Electric on 4/23 for 1Q24, while GE Vernova’s results were decla ...

On April 25th, less than one month after becoming an official company, General Electric Vernova reported its first-ever financial results.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Unfortunately, in the quarter, GE Vernova orders of $9.7 billion were mostly flat, down 1% organically. Net income came in at a loss of $0.1 billion. However, revenue of $7.3 billion was up 6%, or 5% organically, driven by electrification and power.Services revenue gr ...

Key PointsGE stock is up 3.47% after a bullish earnings report.  The report will be the last one that includes GE Vernova; going forward, the GE ticker symbol will be exclusively for GE Aerospace. The report could change analysts' sentiments that GE stock is priced for perfection. 5 stocks we like better than GE VernovaGeneral Electric NYSE: GE stock is up 3.47% in early trading after the company delivered its first-quarter earnings report. The company delivered revenue of $16.1 billion and earnings per sha ...

GE Aerospace (GE) reported first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.In April 2024, GE Aerospace emerged as a separate public company, following the spin-off of GE Vernova Inc. (GEV) from General Electric. Notably, GE Aerospace’s first-quarter results include the performance of GE Vernova, as the spin-off was completed after first-quarter-end.Inside the HeadlinesIn the quarter under discussion, the company’s adjusted earnings came in at ...

Key TakeawaysGE Aerospace shares jumped higher Tuesday after the company released its first earnings report as a standalone company.General Electric completed its split into three separate companies earlier this month.GE Aerospace reported revenue in line with analyst estimates while profit beat expectations, and raised its projected range for full-year operating profit in Tuesday's report. GE Aerospace (GE) shares surged over 7% in intraday trading Tuesday after it reported its first earnings as a standalo ...

Financial Data and Key Metrics Changes - GE Aerospace reported a 10% organic revenue growth in Q1 2024, with adjusted operating profit of $1.5 billion, up more than $600 million, and adjusted EPS of $0.82, up more than 3x year-over-year [9][18] - Free cash flow was $1.7 billion, doubling year-over-year, driven by higher earnings and working capital improvements [20][76] Business Line Data and Key Metrics Changes - Commercial Engines & Services (CES) revenue grew 16%, with service growth of 12% and equipment growth of 31% [23][24] - Defense & Propulsion Technologies (DPT) revenue grew 18%, with orders up 34% and profit of $250 million, up 26% [25][26] Market Data and Key Metrics Changes - Orders for GE Aerospace grew 34%, with strong demand across both Commercial Engines & Services and Defense & Propulsion Technologies [18][22] - Total engine deliveries improved by 9% year-over-year, with defense deliveries up over 50% [12][21] Company Strategy and Development Direction - GE Aerospace is focused on safety and quality, utilizing the FLIGHT DECK operating model to enhance execution and customer service [11][17] - The company is investing over $650 million in manufacturing facilities and supply chain improvements to support long-term customer needs [15][80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the forward trajectory, raising full-year operating profit guidance and projecting a path to a $10 billion operating profit target by 2028 [10][28] - The company anticipates continued strong demand for services as air travel increases, with a focus on improving turnaround times and addressing supply chain challenges [12][53] Other Important Information - GE Aerospace has a backlog exceeding $150 billion, reflecting strong customer commitments and ongoing fleet modernization [15][20] - The company initiated a quarterly dividend of $0.28, a 250% increase, and announced a $15 billion share buyback program [20][28] Q&A Session Summary Question: About the updated LEAP delivery guidance - Management indicated that the change in LEAP delivery guidance was influenced by supplier constraints and alignment with customer needs [35][36] Question: Orders growth breakdown - Most of the 34% increase in orders was attributed to volume growth, with pricing contributing as well [38][39] Question: Q1 margins performance - Margins were up due to pricing and customer mix, despite some headwinds from long-term service agreements [41][45] Question: LEAP production issues and aftermarket implications - Management noted that lower LEAP production could positively impact the aftermarket, with expectations for increased shop visits [48][50] Question: Shop visit growth challenges - Management expressed confidence in achieving shop visit growth despite supply chain challenges, with improvements already noted in Q2 [51][53] Question: Impact of freight demand on CES - Increased freight demand, particularly influenced by geopolitical factors, has led to a more positive outlook for CES [56][58] Question: LEAP OE versus spares provisioning mix - The spare engine ratio is expected to decline gradually, reflecting changes in LEAP output [61][64] Question: Free cash flow expectations - Free cash flow is expected to exceed $5 billion for the year, driven by earnings growth and working capital improvements [74][76] Question: $650 million investment benefits - The investment aims to enhance operational capabilities and support capacity expansions, particularly in additive manufacturing [79][80]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

GE Aerospace first quarter 2024 performance Financial results & company highlights April 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 ...

Core Viewpoint - GE Aerospace is positioned to outperform following its recent financial results, indicating strong demand in the aerospace sector and a positive outlook for future growth [1][2]. Financial Performance - GE Aerospace reported earnings of $0.82 per share on revenue of $16.1 billion, surpassing consensus estimates of $0.65 per share and $15.3 billion in sales, with revenue growth of 11% and aerospace sales up 15% year over year [2]. - The company anticipates full-year earnings between $3.80 and $4.05 per share, aligning with Wall Street's expectation of $3.94 per share, and has raised its operating profit forecast by $100 million to a range of $6.2 billion to $6.6 billion [2]. Business Segments - The growth in revenue, profit, and free cash flow was driven by the Commercial Engines & Services and Defense & Propulsion Technologies segments [3]. - Commercial services experienced a 12% growth in the quarter, highlighting demand not only for new engines but also for parts and services for the existing fleet [4]. Market Demand and Orders - GE Aerospace secured total orders of $11 billion in the quarter, reflecting a 34% increase year over year, and achieved an operating profit margin of 19%, which is an increase of 140 basis points [4]. - The aerospace sector is benefiting from strong demand in commercial aviation, despite challenges such as equipment shortages linked to issues at Boeing and RTX [4].