Industrial conglomerate GE Aerospace (NYSE: GE) will be reporting earnings this Thursday before the bell. Here’s what investors should know.
GE Aerospace beat analysts’ revenue expectations last quarter, reporting revenues of $11.61 billion, up 29% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is GE Aerospace a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting GE Aerospace’s revenue to grow 17.4% year on year, slowing from the 23.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. GE Aerospace has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at GE Aerospace’s peers in the industrial machinery segment, only Worthington has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 16.9%. The stock price was unchanged following the results.
Read our full analysis of Worthington’s earnings results here.Investors in the industrial machinery segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. GE Aerospace is up 3.4% during the same time and is heading into earnings with an average analyst price target of $381.86 (compared to the current share price of $353.84).
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