GE Aerospace CFO Says Taking Costs Out Of Our Business Remains Number One Priority; Volume, Price And Productivity Will Continue To Offset 9x Engine Headwind; By 2028 Leap Engines Will Start To Have Cfm Level Of Profitability; We Intend Use $15B Share Buyback Authorization Over Next Three Years
Portfolio Pulse from Benzinga Newsdesk
During Investor Day, GE Aerospace's CFO emphasized cost reduction as the top priority, aiming to counteract the 9x engine headwind through volume, price, and productivity improvements. The CFO also projected that by 2028, Leap engines will achieve CFM-level profitability. Additionally, GE plans to utilize its $15B share buyback authorization over the next three years.
March 07, 2024 | 3:58 pm
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POSITIVE IMPACT
GE Aerospace's focus on cost reduction, overcoming engine headwinds, and achieving CFM-level profitability for Leap engines by 2028, alongside a $15B share buyback plan, indicates a strategic approach to enhance shareholder value and financial health.
The CFO's statements on cost reduction and overcoming engine headwinds suggest a proactive approach to improving operational efficiency and profitability. The commitment to a $15B share buyback over the next three years demonstrates confidence in the company's financial stability and future prospects, likely leading to a positive short-term impact on GE's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100