General Electric Analysts Increase Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
General Electric Co (NYSE:GE) reported Q3 FY23 revenues of $17.3 billion, a 20% YoY increase, and adjusted EPS of $0.82, beating the consensus of $0.56. The company plans to spin off GE Vernova and launch GE Aerospace in Q2 2024. GE also revised its FY23 adjusted EPS forecast to $2.55-$2.65 from $2.10-$2.30. Despite the positive earnings, GE shares fell 1.4% to $112.03. Barclays and RBC Capital increased their price targets on GE following the earnings announcement.
October 25, 2023 | 6:23 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
General Electric reported strong Q3 FY23 results, beating consensus estimates. The company also plans to spin off GE Vernova and launch GE Aerospace in Q2 2024. Despite the positive earnings, GE shares fell 1.4%.
Despite reporting strong Q3 FY23 results and beating consensus estimates, GE's stock price fell. This could be due to a variety of factors, including market conditions or investor sentiment. The company's plans to spin off GE Vernova and launch GE Aerospace could also have an impact on the stock price in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100