General Electric shares surge after quarterly earnings report

General Electric (GE.US) shares are gaining nearly 4.5% in pre-market trading following the release of better-than-expected results and optimistic full-year forecasts. Additionally, the company's management has recommended a $15 billion share buyback.

Q1 Results:

• Adjusted EPS: $0.82 (Estimate: $0.65)
• Adjusted EPS: Adjusted Revenue: $15.2 billion (Estimate: $15.04 billion)
• GE Aerospace segment profit: $1.5 billion (Estimate: $1.42 billion)
• PS from continuing operations: $1.38 
• Adjusted free cash flow: $900 million

Raised FY'24 Guidance:

• Adjusted EPS: $3.80 to $4.05 (Estimate: $3.76)
• Operating Profit: $6.2 billion to $6.6 billion (Previously: $6.0 billion to $6.5 billion)
• Expected Revenue Growth: Low double digits
• Free Cash Flow: >$5.0 billion
• Plans for $15 billion share buyback

Q1 Segment Performance:

• Aerospace Revenue: $8.1 billion, up 15% YoY
• Power Revenue: $4.1 billion, up from $3.8 billion YoY
• Renewable Energy Revenue: $3.0 billion, up from $2.8 billion YoY

Current estimated opening price of the company's stock after the quarterly earnings release. Source: xStation.