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.
