GE Aerospace (GE) posted better-than-expected earnings and revenue for the fiscal Q1 2024.
Shares rose 0.6% in premarket trading Tuesday.
The aircraft engine supplier reported first-quarter earnings per share (EPS) of $0.82, beating the consensus estimates of $0.66. Revenue came in at $16.1 billion, also above the estimated $15.24 billion.
For the full year 2024, GE Aerospace has updated its financial guidance.
The company now expects an adjusted EPS in the range of $3.80 to $4.05, compared to the consensus estimate of $3.94.
Moreover, it anticipates operating profit to be between $6.2 billion and $6.6 billion, an increase from its previous forecast range of $6 billion to $6.5 billion.
Should you invest $2,000 in GE right now?
ProPicks AI are 6 model portfolios created by Investing.com which identify the best stocks for investors to buy now. The stocks that made the cut could produce monster returns in the coming years. Is GE one of them?
Unlock ProPicks AI to find out