GE Aerospace Q2 Earnings: EPS Beat, Order Growth, Hikes Annual Profit And Cash Flow Outlook
Portfolio Pulse from Akanksha Bakshi
GE Aerospace reported mixed Q2 2024 results with adjusted revenue growth of 4% YoY to $8.22 billion, missing the consensus of $8.462 billion. However, the company raised its full-year profit and cash flow guidance, driven by double-digit growth in orders, operating profit, and free cash flow. Adjusted EPS was $1.20, beating the consensus of $0.99. GE shares are trading higher by 1.77% premarket.
July 23, 2024 | 1:21 pm
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GE Aerospace reported mixed Q2 2024 results with adjusted revenue growth of 4% YoY to $8.22 billion, missing the consensus of $8.462 billion. However, the company raised its full-year profit and cash flow guidance, driven by double-digit growth in orders, operating profit, and free cash flow. Adjusted EPS was $1.20, beating the consensus of $0.99. GE shares are trading higher by 1.77% premarket.
Despite missing revenue estimates, GE Aerospace's strong growth in orders, operating profit, and free cash flow, along with raised full-year guidance, positively impacts investor sentiment. The beat on adjusted EPS and share repurchase program further support a positive short-term price direction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100