GE Aerospace (GE 7.23%) beat analyst expectations in the fourth quarter and announced plans to boost returns to shareholders. Investors cheered, sending GE shares up 10% as of 10 a.m.
While the top- and bottom-line numbers for GE (GE) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 50 points on Thursday.
GE Aerospace (GE 0.46%), a global leader in the design and manufacture of jet engines, delivered a stellar performance in its Q4 2024 earnings release on Thursday, Jan. 23. The company's adjusted EPS of $1.32 far exceeded the analyst estimate of $1.04, marking a 103% increase from the prior year's quarter.
Ge Aerospace surged on Thursday after the aircraft engine maker unveiled expectation-topping fourth-quarter figures and boosted shareholder rewards. Net income climbed by 49% to US$1.9 billion and trounced analysts' expectations for US$1.2 billion, as revenue also surpassed forecasts, up 14% at US$10.8 billion.
GE Vernova Inc. GEV reported worse-than-expected fourth-quarter EPS and revenue on Wednesday.
GE Aerospace said that it plans to buy back $7 billion in stock and raise dividends by 30% this year.
Shares of GE Aerospace (GE) surged in premarket trading Thursday after the company reported fourth-quarter results far above analysts' estimates.
GE Aerospace on Thursday forecast profit for the current year above estimates, as persistent shortage of new aircraft forces airlines to fly older jets, creating strong demand for its high-margin parts and services.
The stock's spectacular gains over the past year means the results and outlook need to be especially good.
GE Vernova (GEV) reaffirmed its 2025 outlook despite missing fourth quarter revenue expectations. Chris Dendrinos, RBC Capital Markets Analyst, joins Catalysts to discuss GE Vernova's results.
CNBC's Seema Mody reports on the latest news regarding GE Vernova.