GE Aerospace Shares Climb 3% on Raised 2024 Outlook

GE Aerospace (NYSE:GE) saw its shares rise by more than 3% in pre-market today following the release of its Q2 earnings, which exceeded expectations and led to an improved outlook for fiscal year 2024.

The company reported Q2 EPS of $1.20, surpassing the Street estimate of $0.99. Revenue for the quarter was $8.22 billion, below the anticipated $8.47 billion.

Adjusted free cash flow for the quarter reached $1.10 billion, marking a 17% year-over-year increase and exceeding the projected $967.5 million.

For the full fiscal year, GE now expects adjusted EPS to range between $3.95 and $4.20, up from the previous guidance of $3.80 to $4.05, and higher than the Street forecast of $4.03. GE projects its adjusted free cash flow for the year to be between $5.3 billion and $5.6 billion, compared to the $5.29 billion anticipated by analysts.