General Electric’s Soft Guidance Sparks Concerns As GE Aerospace And GE Vernova Spin-Off Nears
General Electric Company (NYSE:GE) reported fourth-quarter fiscal 2023 revenues of $19.4 billion, an increase of 15% year-over-year, and Adjusted revenue of $18.5 billion (+13% Y/Y organically), beating the consensus of $17.42 billion.
Total orders increased by 8% Y/Y to $21.7 billion and up 7% on an organic basis. Adjusted EPS was $1.03, up from $0.66 a year ago, beating the consensus of $0.90.
GE reported a profit margin GAAP of 10.3%, up by 90 bps, and an Adjusted organic operating margin of 10%, up 50 bps organically.
Aerospace’s revenues rose 12% Y/Y to $8.52 billion, driven by Commercial Engines and Services, while orders grew 10% to $10.62 billion, reflecting continued services strength and strong commercial engine orders.
GE Vernova Renewable Energy revenues increased by 23% Y/Y to $4.21 billion and up 19% on an organic basis driven by Grid and Offshore Wind; Orders were $5.07 billion for …
Full story available on Benzinga.com
