{"id":600835,"date":"2023-01-24T18:52:42","date_gmt":"2023-01-25T00:52:42","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/24\/general-electric-stock-active-after-solid-q4-earnings-soft-2023-forecast\/"},"modified":"2023-01-24T18:52:42","modified_gmt":"2023-01-25T00:52:42","slug":"general-electric-stock-active-after-solid-q4-earnings-soft-2023-forecast","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/24\/general-electric-stock-active-after-solid-q4-earnings-soft-2023-forecast\/","title":{"rendered":"General Electric Stock Active After Solid Q4 Earnings, Soft 2023 Forecast"},"content":{"rendered":"
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“Looking ahead, GE is positioned to drive growth, profit, and cash, and our outlook reflects our confidence in our businesses,” said CEO Larry Culp.<\/p>\n<\/div>\n<\/header>\n

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UPDATED at 1:38 pm EST<\/strong><\/p>\n

General Electric\u00a0 (GE<\/a><\/strong>) – Get Free Report<\/a><\/span>\u00a0posted stronger-than-expected fourth quarter earnings Tuesday, but forecast weaker full-year profits as its energy business continues to drag on the industrial group’s bottom<\/a> line.<\/p>\n

General Electric said adjusted non-GAAP earnings for the three months ending in December were pegged at $1.24, up 35% from last year and firmly ahead of the Street consensus forecast of $1.13 per share. Group revenues, General Electric said, rose 7.4% from last year to $21.8 billion, just ahead of analysts’ estimates of an $21.6 billion tally.<\/p>\n

Looking into the current financial year, GE said it sees adjusted earnings in the region of $1.60 to $1.80 per share, well south of Refinitiv forecasts of a $2.36 per share tally, with organic sales growth in the ‘mid-to-high’ teens in terms of percentage gain. Operating profits for GE Aerospace, its core division, were forecast in the range of $5.3 billion to $5.7 billion.\u00a0GE Vernova, its energy business, will likely report a loss of between $200 million and $600 million.<\/p>\n