Industrial conglomerate GE Aerospace (NYSE: GE) will be reporting earnings this Tuesday before the bell. Here’s what to expect.
GE Aerospace beat analysts’ revenue expectations by 6.5% last quarter, reporting revenues of $10.15 billion, up 23.4% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is GE Aerospace a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting GE Aerospace’s revenue to grow 21.9% year on year to $10.9 billion, improving from the 5.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.47 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GE Aerospace has missed Wall Street’s revenue estimates six times over the last two years.
Looking at GE Aerospace’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Worthington delivered year-on-year revenue growth of 18%, beating analysts’ expectations by 1.4%, and Snap-on reported revenues up 3.6%, topping estimates by 2.7%. Worthington traded down 11.6% following the results while Snap-on was up 2.2%.
Read our full analysis of Worthington’s results here and Snap-on’s results here.
Investors in the industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. GE Aerospace’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $323.71 (compared to the current share price of $301.32).
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