GE Stock Jumps As ‘Standout’ Aviation Business Drives Surprise General Electric Earnings Gain, Free Cash Flow
GE stock popped Tuesday after General Electric (GE) crushed earnings estimates for the second quarter, driven by its jet-engine unit. Wall Street cheered “standout” results in that business as the industrial conglomerate looks to emerge in 2024 as an aviation-focused company.
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Despite the big Q2 earnings beat, General Electric merely affirmed its EPS guidance for the full year and lowered its 2022 free cash flow (FCF) outlook by $1 billion due to pressures on working capital.
“We are improving delivery, price and cost performance via lean and decentralization (strategy),” GE CEO Larry Culp said in a July 26 earnings release. “Notwithstanding this progress, much is still uncertain about the external pressures companies are facing at this moment.”
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Surprise GE Earnings Gain In Q2
In Q2, General Electric earnings nearly doubled to 78 cents per share. Revenue rebounded nearly 6% to $17.88 billion. Analysts were…
