GE: targets confirmed at CMD
(CercleFinance.com) - GE confirmed its annual targets on Thursday ahead of a CMD to be held at its Cincinnati (Ohio) site.
The US industrial group said it still expects organic revenue growth of between 5% and 10% this year, as well as adjusted EPS of $1.60 to $2 and free cash flow of 3.4 to 4.2 billion dollars.
In detail, its aerospace arm GE Aerospace is expected to generate organic growth of between 15% and 20% for operating profit of 5.3 to 5.7 billion dollars.
In the longer term, the conglomerate expects the division to grow revenue by 15% to 20% organically, while continuing to improve margins and cash flow.
Again in the long term, organic growth is expected to be around 5% for an operating margin that should be between 15% and 20%.
GE specifies that it plans to split its two businesses at the beginning of 2024.
Following this presentation, GE shares rose by more than 2% on Thursday morning in pre-market trading on Wall Street.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The US industrial group said it still expects organic revenue growth of between 5% and 10% this year, as well as adjusted EPS of $1.60 to $2 and free cash flow of 3.4 to 4.2 billion dollars.
In detail, its aerospace arm GE Aerospace is expected to generate organic growth of between 15% and 20% for operating profit of 5.3 to 5.7 billion dollars.
In the longer term, the conglomerate expects the division to grow revenue by 15% to 20% organically, while continuing to improve margins and cash flow.
Again in the long term, organic growth is expected to be around 5% for an operating margin that should be between 15% and 20%.
GE specifies that it plans to split its two businesses at the beginning of 2024.
Following this presentation, GE shares rose by more than 2% on Thursday morning in pre-market trading on Wall Street.
Copyright (c) 2023 CercleFinance.com. All rights reserved.