General Electric Stock Rebounds ahead of Investors presentation!
Shares of General Electric rose significantly on Thursday!
That after the company reaffirmed its 2023 guidance ahead of its investor presentations in Cincinnati, and predicted wider aerospace profits after it splits in two early next year.
The stock was up about 6.5% at $92.61 in afternoon trading.
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General Electric Stock Rebounds ahead of Investors' presentation
The stock was up about 6.5% at $92.61 in afternoon trading.#gm #Automotive pic.twitter.com/wFDS0QBVBZ
— The_Journalbiz (@the_journalbiz) March 9, 2023
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GE said it expected adjusted per-share earnings of $1.60 to $2 a share in 2023, with a free cash flow of $3.4 billion to $4.2 billion.
Its aerospace operations expect to generate $5.3 billion to $5.7 billion in operating profit and increase free cash flow. The power and renewable energy operations, dubbed GE Vernova, is expected to generate a $200 million to $600 million operating loss this year, with flat to slightly better free cash flow.
