General Electric Company, doing business as GE Aerospace, announced on Tuesday that its total revenue in the third quarter of fiscal 2024 grew 6% on an annual basis, reaching $9.8 billion.
In the three months ending September 30, profit surged from $333 million in the same timeframe a year ago to $1.9 billion. Furthermore, earnings per share soared from $0.20 registered in the third trimester of 2023 to $1.56 in the same three-month period in 2024.
"The GE Aerospace team delivered strong results, with demand driving orders up 28%. We grew earnings 25% and produced substantial free cash flow, both largely driven by services. Given the strength of our results and 4Q expectations, we're raising our earnings and cash guidance for the year," Chairman and CEO H. Lawrence Culp Jr. commented.
The company's shares declined 1.15% in the premarket following the release.
