Industrial conglomerate GE Aerospace (NYSE: GE) will be announcing earnings results this Thursday morning. Here’s what to expect.
GE Aerospace missed analysts’ revenue expectations by 7.9% last quarter, reporting revenues of $9.00 billion, up 11.5% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA estimates but full-year EPS guidance missing analysts’ expectations.
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 15.8% year on year to $9.52 billion, improving from the 4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.43 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 8 downward revisions over the last 30 days (we track 13 analysts).
Looking at GE Aerospace’s peers in the industrial machinery segment, only Worthington has reported results so far. It beat analysts’ revenue estimates by 5.6% and delivered flat year-on-year revenue. The stock traded up 1.8% on the results.
Read our full analysis of Worthington’s earnings results here.There has been positive sentiment among investors in the industrial machinery segment, with share prices up 4.9% on average over the last month. GE Aerospace is up 11.8% during the same time and is heading into earnings with an average analyst price target of $259.95 (compared to the current share price of $264.50).
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