This happened after Chief Executive Larry Culp said at the company's annual day for investors that a recession was "the last thing on our mind".
GE stuck to its profit expectations for 2023 despite the dim economic outlook and persistent supply shortages. It expects adjusted earnings per share of $1.60 to $2.00, with revenue growth in the high single digits. "We're well positioned to have a strong year," Culp said.
Through 2025, GE expects profit margins at GE Aerospace to be about 20 per cent, company executives told investors at a conference in Ohio. A jump in air travel has driven up sales at its aerospace division, which makes and services engines for Boeing and Airbus jets. The company expects the aerospace business to generate double-digit revenue growth this year, translating into an operating profit of $5.3 billion - $5.7 billion.
This story is from the April 2023 edition of Cruising Heights.
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This story is from the April 2023 edition of Cruising Heights.
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