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Stock impact report

GE Aerospace beats estimates as orders surge [Yahoo! Finance]

GE Aerospace (GE) 
Last ge aerospace earnings: 4/30 04:02 pm Check Earnings Report
US:NYSE Investor Relations: ge.com/investor-relations/overview
Company Research Source: Yahoo! Finance
Adjusted earnings per share came in at $1.86, beating the analyst estimate of $1.60 by $0.26. Adjusted revenue reached $11.6B billion, surpassing the consensus estimate of $10.71 billion and representing a 29% increase YoY. The company posted total orders of $23.0 billion, up 87% from the prior year, driven by robust demand across its commercial and defense businesses. Chairman and CEO H. Lawrence Culp, Jr. said, " GE Aerospace had a strong first quarter with orders growing 87% and revenue up 29%, supporting double-digit growth in earnings and free cash flow." Shares rose 2.8% following the announcement. The Commercial Engines & Services segment delivered strong performance with orders of $17.3 billion, up 93%, and revenue of $8.9 billion, up 34%. Services revenue grew 39%, with internal shop visit revenue up 35% and spare parts revenue growing more than 25%. Total engine deliveries increased 43% YoY. The company announced commercial wins for more than 650 engines during the quar Show less Read more
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