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GE Aerospace Tops Estimates While Warning of Fuel-Price Risks [Yahoo! Finance Canada]
Last ge aerospace earnings: 4/30 04:02 pm
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US:NYSE Investor Relations: ge.com/investor-relations/overview
Most Read from Bloomberg Adjusted earnings were $1.86 a share, the company said in a statement Tuesday, above the $1.60 expected by analysts in a Bloomberg survey. Strong demand for air travel pushed sales up nearly 30% from a year ago, also exceeding analyst estimates. The results highlight how the Cincinnati-based company has capitalized on strong demand for spare parts and maintenance services that airlines need to keep their planes flying. But investors remain worried about the year ahead since the war has sparked a surge in the price of jet fuel, prompting many carriers to trim flying capacity. “None of us know how things are going to play out here, particularly with respect to duration in the Middle East,” Chief Executive Officer Larry Culp said on the earnings call. “I don't think we've tried to tether ourselves to to one scenario or another, but we have considerable backlog.” Culp added that the company is “mindful of the risks that we may have in the customer base” a
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