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].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-00035 GENERAL ELECTRIC COMPANY (Exact name of registrant as specified in its charter) New York 14-0689340 (State or ot ...

GE AEROSPACE ANNOUNCES FIRST QUARTER 2024 RESULTS GE delivers strong consolidated results; GE Aerospace raises full-year guidance BOSTON — April 23, 2024 — GE Aerospace (NYSE:GE) announced results today for the first quarter ending March 31, 2024. The consolidated results below include the operations of GE Vernova Inc. (“GE Vernova”), which successfully separated in a spin-off after quarter-end on April 2, 2024 and will report its results on April 25, 2024. First quarter 2024 GE Consolidated Results (includ ...

Key TakeawaysGE Aerospace reports its first earnings as a standalone company Tuesday, after GE completed its split into three separate companies earlier this month. The aerospace technology company's stock has been trending upwards since the split, with JPMorgan analysts calling the company the "the premier large-cap name" in commercial aerospace.GE Vernova and GE Healthcare will both post quarterly earnings within a week of GE Aerospace's Tuesday report. GE Aerospace (GE) is set to post its results for the ...

Investors' concerns over the impact of Boeing's delivery delays may be overdone.An RBC Capital analyst recently raised his price target on GE Aerospace (GE 1.89%) stock from $160 to $165 and maintained his overweight rating. The update implies a 9.3% upside on the stock over the next 12 months.Looking ahead to first-quarter earningsThe aerospace market is split between original equipment manufacturing (OEM) and aftermarket. Delivery disruptions from Boeing mean that its OEM suppliers are likely to reduce th ...

GE Aerospace (GE) is scheduled to report first-quarter 2024 results on Apr 23, before market open.The Zacks Consensus Estimate for earnings has increased 7.8% in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average beat being 54.1%.Let’s see how things are shaping up for GE Aerospace this earnings season.Factors to NoteGE Aerospace is expected to have benefited from its focus on innovation, d ...

JetlinerimagesIn April 2023, I issued a buy rating on GE stock and that buy rating has performed rather well as the stock price has doubled since. At the time GE was still a combination of the aerospace business and the power and renewable energy business. Since the spin-off of GE Vernova (GEV), GE has been renamed to GE Aerospace and is now a pure aerospace and defense stock. In this report, I will be discussing why I like GE Aerospace and I will be updating my price target for GE Aerospace using valua ...