GE Aerospace hikes 2024 earnings, operating profit guidance; shares rise

GE Aerospace (NYSE: GE) shares climbed 2.7% in premarket trading Tuesday after the company reported better-than-expected Q2 earnings hiked its outlook for the full fiscal 2024.

GE posted Q2 EPS of $1.20, topping the consensus estimates of $0.99. Revenue for the quarter came in at $8.22 billion, short of analysts expectations of $8.47 billion.

Adjusted free cash flow was $1.10 billion, up 17% year-over-year, also above the estimate of $967.5 million.

For the full year, GE now forecasts adjusted EPS for the year to be between $3.95 and $4.20, up from the previous guidance of $3.80 to $4.05, and compared to the consensus projection of $4.03.

Operating profit is anticipated to range from $6.5 billion to $6.8 billion, an increase from the prior range of $6.2 billion to $6.6 billion, while analysts were looking for $6.67 billion.

The company anticipates adjusted free cash flow between $5.3 billion and $5.6 billion for the year, compared to the $5.29 billion expected by analysts.

“The GE Aerospace team delivered another strong quarter marked by double-digit increases across orders, operating profit, and free cash flow,” said H. Lawrence Culp Jr., the company's CEO.

“Given our performance year-to-date and momentum across our businesses we are raising our full-year profit and free cash flow guidance”

By Vahid Karaahmetovic

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