GE Aerospace (GE) beats on top and bottom lines in Q1, hikes profit outlook

GE Aerospace (NYSE: GE) posted better-than-expected earnings and revenue for the fiscal Q1 2024.

Shares rose 0.6% in premarket trading Tuesday.

The aircraft engine supplier reported first-quarter earnings per share (EPS) of $0.82, beating the consensus estimates of $0.66. Revenue came in at $16.1 billion, also above the estimated $15.24 billion.

For the full year 2024, GE Aerospace has updated its financial guidance.

The company now expects an adjusted EPS in the range of $3.80 to $4.05, compared to the consensus estimate of $3.94.

Moreover, it anticipates operating profit to be between $6.2 billion and $6.6 billion, an increase from its previous forecast range of $6 billion to $6.5 billion.

By Vahid Karaahmetovic

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