Why GE Aerospace Stock Is Taking Off Today
Investors got their first taste of what a standalone GE Aerospace (NYSE: GE) might look like, and they apparently like what they see. Shares of the jet engine maker were up 6% as of 11 a.m. ET Tuesday after the company released first-quarter results.
GE Aerospace is what remains of the once-fabled conglomerate following the spinoff of its energy business as GE Vernova on April 2. The first-quarter report includes results of Vernova but showed the power of the aerospace unit.
GE Aerospace earned $0.82 per share in the quarter on revenue of $16.1 billion, easily beating the consensus estimate of $0.65 per share on $15.3 billion in sales. Revenue was up 11%, with aerospace sales up 15% year over year.
Source Fool.com
