GE - GE Stock Soars Following Q3 Performance Raises FY23 Outlook Plans Spin-Off | Benzinga
General Electric Co (NYSE: GE) reported third-quarter FY23 revenues of $17.3 billion, an increase of 20% year-over-year, and Adjusted revenue of $16.5 billion (+18% Y/Y).
Total orders increased by 19% Y/Y to $17.9 billion and up +18% on an organic basis.
Adjusted EPS was $0.82, up from $(0.17) a year ago, beating the consensus of $0.56.
GE reported a profit margin GAAP of 1.7%, up by 330 bps, and an Adjusted organic operating margin of 9.8%, up 760 bps organically.
Aerospace’s Q3 revenues jumped 25% Y/Y to $8.41 billion, driven by strength in both Commercial Services and Defense, while orders rose 34% to $9.79 billion.
GE Vernova Renewable Energy revenues increased by 15% Y/Y to $4.15 billion; Orders were $3.92 billion for the quarter compared to $3.73 billion a year ago.
GE Vernova Power Orders were increased by 2% ...