(News Bulletin 247) – GE confirmed its annual objectives on Thursday ahead of an investor day to be held at its Cincinnati (Ohio) site.
The American industrial group still says it expects organic revenue growth of between 5% and 10% this year, as well as adjusted earnings per share (EPS) of 1.60 to two dollars and a flow free cash from 3.4 to 4.2 billion dollars.
In detail, its aeronautics branch GE Aerospace should generate organic growth of between 15% and 20% for operating income of 5.3 to 5.7 billion dollars.
In the longer term, the conglomerate expects the division to grow its revenue by 15% to 20% organically while continuing to improve its margins and cash flow.
As for GE Vernova, its renewable energy and electricity production branch, organic business growth is expected between 0% and 5% this year, for an anticipated operating loss of between $200 and $600 million. .
Over the long term, its organic growth is however expected around 5% for an operating margin rate which should be between 15% and 20%.
GE says it plans to split its two businesses in early 2024.
Following this presentation, the GE share rose by more than 2% Thursday morning in pre-market quotations on Wall Street.
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