General Electric Company (NYSE:GE), now known as GE Aerospace, announced its fourth-quarter and full-year financial results for 2024 today. The company, with a market capitalization of $204 billion and an impressive 83% stock return over the past year according to InvestingPro, disclosed the figures on its investor relations website, with the details also filed with the Securities and Exchange Commission (SEC).
For the quarter ending December 31, 2024, GE Aerospace reported that it had navigated the period with outcomes that reflect both the challenges and opportunities within the aerospace sector.
While specific quarterly metrics weren't disclosed in the summary, InvestingPro data shows the company generated $70 billion in revenue over the last twelve months, with a solid financial health score of "GOOD." The full report is available as Exhibit 99 attached to the SEC filing.
The release of these financial statements is a standard regulatory requirement and does not constitute an official filing for the purposes of Section 18 of the Securities Exchange Act of 1934. Consequently, the information should not be considered as "filed" under the act or as incorporated by reference into any of the company's other filings with the SEC.
GE Aerospace, listed on the New York Stock Exchange under the ticker symbol GE, has a diverse portfolio of securities, including common stock and various notes with maturity dates ranging from 2025 to 2037. These securities remain actively traded on the New York Stock Exchange.
The announcement follows the company's previous name changes, with the most recent being the transition from General Electric Co to GE Aerospace, a move that reflects its strategic focus on the aerospace industry.
Investors and stakeholders looking to understand the detailed financial health of the company are encouraged to review the full-year and quarterly results provided in the attached exhibit of the SEC filing. The company has emphasized that the information is based on a press release statement and has been furnished for informational purposes only.
GE Aerospace's latest financial results are a critical indicator of its performance in the electronic and other electrical equipment sector. Trading at a P/E ratio of 32.8 and currently appearing overvalued according to InvestingPro's Fair Value analysis, the company maintains a moderate debt level and has consistently paid dividends for 54 consecutive years. For deeper insights into GE's valuation and 11 additional exclusive ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, GE Aerospace has reported significant financial growth, with a 28% increase in orders, a 6% rise in revenue, and a 14% surge in operating profit. The company's adjusted earnings per share soared by 25%, and it generated a substantial $1.8 billion in free cash flow. As a result, GE Aerospace has increased its full-year operating profit guidance to between $6.7 billion and $6.9 billion.
Analysts from RBC Capital, Wells Fargo (NYSE:WFC), and UBS have adjusted their price targets for GE Aerospace. RBC Capital has lowered its target but maintains an Outperform rating, while Wells Fargo and UBS have increased their targets. Bernstein SocGen Group also maintained an Outperform rating on the company, despite reducing its price target from $225.00 to $209.00.
GE Aerospace is investing $1 billion in Maintenance, Repair, and Overhaul (MRO) to enhance aftermarket capacity and is opening a new LEAP MRO shop in Poland. Furthermore, GE Aerospace and Lilium announced a partnership to establish robust safety protocols for the emerging electric Vertical Take-Off and Landing (eVTOL) aircraft industry. The collaboration aims to integrate GE's Event Measurement System (EMS) with Lilium's flight data analytics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.