The company now expects 2024 operating profit of $6.2 billion to $6.6 billion, compared with its earlier forecast of $6 billion to $6.5 billion. Since then,...
-GE Aerospace on Tuesday raised its full-year profit forecast, citing a "solid start to the year" on strong demand for jet-engine parts and services as airlines keep their older planes in the air to tide over a shortage of new commercial aircraft.
Earlier this month, GE completed its breakup into three companies focused on aviation, energy and healthcare. In the near term, however, GE Aerospace stands to gain from higher sales of spare parts and services - which are priced at a premium - as airlines are forced to operate older jets. " has that crucial balance between OEM and aftermarket sales, with its large installed base more than offsetting the losses that come with new engine deliveries," Vertical Research Partners analyst Robert Stallard wrote in a note earlier this month.On Tuesday, GE Aerospace said GE's first-quarter adjusted profit, which included results for both aerospace and energy businesses, rose 76% to $1.5 billion, or 82 cents per share.
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