On Tuesday, General Electric (NYSE:GE), now called GE Aerospace, announced its Q3 2024 financial results on its investor relations website.
Located in Evendale, Ohio, GE Aerospace disclosed this information in compliance with SEC regulations. The details of the company’s finances provide insights but are not part of any future official filings.
GE’s stock is listed on the New York Stock Exchange under various symbols, reflecting its diverse aspects and operations.
The financial results are crucial for investors and analysts monitoring GE Aerospace’s performance, indicating the company’s success in the third quarter.
This filing was verified by Robert Giglietti, GE’s Vice President, ensuring it reflects accurate information reported to the SEC.
Additionally, GE Aerospace revised its earnings prediction for 2024 upward, anticipating a profit of $4.20 to $4.35 per share due to rising demand for services from airlines using older planes. In the last quarter, it reported an adjusted profit of $1.15 per share and $9.84 billion in total revenue, a 6% increase from the prior year.
Bank analysts have raised their price targets for GE Aerospace, with Deutsche Bank setting it at $235 and Bernstein SocGen increasing it to $225. Both noted the company’s strong performance and potential for growth.
GE Aerospace was also involved in a significant deal with Poland for $12 billion to purchase Apache helicopters. Additionally, Texas shortlisted GE Vernova for funding from a $5.38 billion government pool for power plant projects, showcasing GE’s active role in the industry.
InvestingPro Insights
GE Aerospace’s recent results show impressive market capitalization of $210.61 billion. It recorded a 44.94% revenue increase over the past year and a 53.25% rise in EBITDA, reflecting its operational efficiency.
InvestingPro highlights that GE is nearing its 52-week high and has consistently paid dividends for 54 years, showcasing its financial stability. These insights offer a comprehensive view of GE Aerospace’s position and performance, with more tips available from InvestingPro.
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