Shares of GE Aerospace (GE) gained in pre-market trading after the company forecasted a strong outlook and reported robust Q4 results. The aerospace company’s adjusted earnings skyrocketed by 103% to $1.32 per share, above consensus estimates of $1.04 per share.
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Furthermore, the company’s adjusted revenues increased by 16% year-over-year to $9.9 billion in the fourth quarter. This surpassed Street estimates of $9.5 billion. In addition, GE’s orders surged by 46% year-over-year to $15.5 billion in the fourth quarter.
GE Announces Stock Buyback and Dividend
In FY24, the company returned $6 billion to shareholders and announced a stock buyback plan of $7 billion in 2025. Additionally, GE raised its quarterly dividend by 30%, subject to the Board’s approval.
GE Issues FY25 Outlook
Looking ahead, the company expects adjusted earnings in the range of $5.10 to $5.45 per share in FY25 while adjusted revenues are likely to grow in low double digits. For reference, analysts were expecting the company to report earnings of $5.26 per share.
Is GE a Good Buy Right Now?
Analysts remain bullish about GE stock, with a Strong Buy consensus rating based on 12 Buys and one Hold. Over the past year, GE has increased by more than 80%, and the average GE price target of $227.75 implies an upside potential of 20.9% from current levels. These analyst ratings are likely to change following GE’s results today.
