GE Aerospace Raises 2024 Profit Forecast, EPS $4.20-$4.35 Amid Strong Demand

Oct 22, 2024, 11:25 AM

GE Aerospace has raised its profit forecast for the fiscal year 2024, citing strong demand for maintenance services. The company now expects adjusted earnings per share (EPS) to be between $4.20 and $4.35, up from the previous forecast of $3.95 to $4.20. GE Aerospace reported third-quarter earnings with an adjusted EPS of $1.15, slightly above the estimated $1.14. Revenue for the quarter was $8.94 billion, compared to the expected $8.97 billion. The company also reported an adjusted free cash flow of $1.81 billion, exceeding the estimated $1.27 billion. Additionally, GE Aerospace's orders increased by 28% year-over-year, and the company raised its full-year adjusted operating profit guidance to a range of $6.7 billion to $6.9 billion. CEO notes focus is on raising output of plane engines.