GE Aerospace: solid 2nd quarter, targets revised upwards

(CercleFinance.com) - GE Aerospace announced on Tuesday that it had raised its annual targets after posting "solid" second-quarter results.


In a press release, the US aerospace group reported double-digit growth in order intake, operating profit and free cash flow for the quarter.

Sales rose by 4% to $9.1 billion, with operating profit up 37% to $1.9 billion.

Order intake climbed by 18% to $11.2 billion, while free cash flow (FCF) increased by 17% to $1.1 billion.

For the full year, GE Aero now expects free cash flow of between $5.3 and $5.6 billion, compared with a previous forecast of over $5 billion.

Its operating profit target has been raised from $6.2-6.6 billion to $6.5-6.8 billion.

Following this publication, the stock was expected to rise by almost 4% on Tuesday morning before the opening of the US markets.

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