GE - GE Aerospace Flies High On Hopeful Guidance

2024-07-24 07:04:02 ET

Summary

• GE Aerospace shares spiked 5.7% after reporting Q2 results, with revenue slightly below expectations but adjusted earnings per share higher than anticipated.
• Orders for Commercial Engines & Services segment increased significantly, while the Defense & Propulsion Technologies segment saw a decline.
• Despite strong financial performance, GE Aerospace shares are still expensive, leading to a 'hold' rating.

July 23rd ended up being a really positive day for shareholders of GE Aerospace ( GE ). Shares of the company spiked, closing up 5.7%, after management announced financial results covering the second quarter of the company's 2024 fiscal year. Even though revenue fell short of analysts’ expectations, adjusted earnings per share reported by the company came in higher than what the professionals thought. In addition to this, the company posted strong orders year over year and generated significant positive cash flow. Unfortunately, shares are still very pricey. But that doesn't mean that the company should not be on investors’ radars....

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