GE Aerospace's official financial report for the fiscal year 2024

GE Aerospace Raises 2024 Profit Outlook to $4.20-$4.35 After Q3 EPS Beat

Oct 22, 2024, 11:15 AM

GE Aerospace reported third-quarter 2024 earnings per share of $1.15, slightly surpassing analysts' estimates of $1.14. Revenue came in at $8.94 billion, slightly below forecasts of $9.05 billion. The company raised its full-year adjusted earnings per share guidance to $4.20 to $4.35 from the previous range of $3.95 to $4.20. GE Aerospace also increased its adjusted operating profit outlook to $6.7 billion to $6.9 billion from the prior range of $6.5 billion to $6.8 billion, and updated its free cash flow guidance to over $5.6 billion to $5.8 billion. The adjustments reflect strong demand for maintenance services and a focus on increasing plane engine output. Orders in the quarter rose by 28% year-over-year to $12.6 billion, and the adjusted operating profit margin improved by 150 basis points to 20.3%. The company's adjusted free cash flow was $1.81 billion, exceeding estimates of $1.27 billion. GE Aerospace's total backlog grew by 6.2% year-over-year to $165.7 billion.