March 25, 2024

GE has recently announced a series of strategic moves and financial results. Here’s a summary of the latest news:

Spin-Off of GE Vernova: GE’s Board of Directors has approved the spin-off of GE Vernova, set to launch on April 2, 2024. Shareholders of record as of March 19, 2024, will receive one share of GE Vernova for every four shares of GE owned. Following this, GE will operate as GE Aerospace .

On Dec 23, 2023 4Q 2023 EPS beat of 14.86% and Full Year 2023 Financial Results: GE reported strong financial performance for the fourth quarter and the full year of 2023. Key highlights include a 15% increase in total revenues (GAAP) for the fourth quarter, reaching $19.4 billion, and a full-year revenue increase of 17% to $68.0 billion. The company also saw significant profit margins and growth in earnings per share. GE Chairman and CEO H. Lawrence Culp, Jr. highlighted the successful year, pointing to the tripled earnings and nearly 70% increase in free cash flow​​.

2024 Guidance: Looking ahead to 2024, GE provided guidance reflecting the expected performance of GE Aerospace and GE Vernova as independent entities. GE Aerospace anticipates low double-digit revenue growth, operating profit of $6.0 billion to $6.5 billion, and free cash flow of over $5 billion. GE Vernova expects revenue between $34 billion and $35 billion, with adjusted EBITDA margin in the mid-single digits and free cash flow between $0.7 billion and $1.1 billion​​.

Recent Press Releases: GE has made several announcements through press releases, including the advancement of the UK’s transition to net-zero with Technip Energies and the commissioning of the first onshore wind energy center in Japan by Invenergy using GE Vernova turbines. Additionally, GE Vernova has named Sharon Heck as Treasurer and closed a joint venture with Montana Technologies to manufacture air conditioning and refrigeration equipment​​

GE is set to report Q1 2024 earnings on April 23, 2024 expected EPS .65 and Revenue 16.06B.