This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
GE Reports Strong Earnings Driven by Aerospace
July 27, 2022
General Electric (GE) reported Q2 2022 results with $18.6bn in revenues, up 2% YoY. GE Aerospace revenue gained 27% YoY to $6.1bn, while GE Healthcare revenues were 1% higher to $4.5bn. Its adjusted profits came in at $1.7bn, up 81%, translating into an EPS of 78 cents vs. analyst expectations of 38 cents. Adjusted profit margin rose 400bp to 9.3%. It also reported free cash flows of ~$200mn. For 2022, GE expects around $1bn of free cashflow on the timing of working capital dynamics to serve customers & Renewable Energy orders. Chairman and CEO of GE and CEO of GE Aerospace, Larry Culp said, “For Q2 aerospace was a key driver, and services remained a bright spot of performance. While this remains the toughest operating environment. GE just starting the annual strategy and budget planning cycle for 2023. The company still expects to deliver significant YoY improvement in both profit and cash, but below our prior view.”
GE’s dollar bonds were down 1.27 points with its 3.375% 2023s at 98.85, yielding 4.12%.
Go back to Latest bond Market News
Related Posts:GE Begins $23bn Bond Buyback Offer
November 11, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.