GE Aerospace said on Tuesday that adjusted revenue for the first quarter of 2024 rose 34% to $8.1 billion on a standalone basis.
Total orders for the same reported period amounted to $11 billion, up 34% from the same quarter a year earlier. Meanwhile, operating profits rose 24% to $1.5 billion. GA Aerospace updated its full-year guidance to reflect an operating profit between $6.2 billion and $6.6 billion, better than the March outlook.
"We marked a new beginning in early April with the successful spin-off of GE Vernova and the launch of GE Aerospace, completing our multi-year transformation. Our teams achieved this milestone while delivering strong results in the first quarter led by significant profit and cash growth at GE Aerospace," GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. said, commenting on the results.
After the report's release, shares of GE Aerospace went up by 0.59% to sell for $151 in premarket in New York.
