Industrial conglomerate GE Aerospace (NYSE: GE) will be reporting results tomorrow before the bell. Here’s what to expect.
GE Aerospace beat analysts’ revenue expectations by 13.7% last quarter, reporting revenues of $10.81 billion, up 14.3% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is GE Aerospace a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting GE Aerospace’s revenue to grow 9.1% year on year to $9.77 billion, slowing from the 27.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.27 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 Q1 results, giving us a hint as to what we can expect. Worthington’s revenues decreased 3.9% year on year, beating analysts’ expectations by 6.7%, and Snap-on reported a revenue decline of 3%, falling short of estimates by 4.1%. Worthington traded up 24% following the results.
Read our full analysis of Worthington’s results here and Snap-on’s results here.
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