GE Aerospace lifts 2024 profit forecast on strong sales of engine parts, services [Reuters]
GE Vernova Inc. (GEV)
Company Research
Source: Reuters
April 23 (Reuters) - GE Aerospace (GE.N) New Tab , opens new tab on Tuesday raised its full-year profit forecast, citing a "solid start to the year" on strong demand for jet-engine parts and services as airlines keep their older planes in the air to tide over a shortage of new commercial aircraft. The company now expects 2024 operating profit of $6.2 billion to $6.6 billion, compared with its earlier forecast of $6 billion to $6.5 billion. Shares of the aerospace giant were up 1.8% in trading before the bell. Earlier this month, GE completed its breakup into three companies focused on aviation, energy and healthcare. Since then, Wall Street analysts have been bullish on the prospects of the aerospace business, with some citing the dominant lead of CFM International, GE's joint venture with Safran (SAF.PA) New Tab , opens new tab , as a supplier to Airbus' A320neo family of jets, over competing engine maker Pratt & Whitney. CFM is also the sole supplier to Boeing's 737 MAX
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GEV
Earnings
- 4/26/24 - Miss
GEV
Sec Filings
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- GEV's page on the SEC website