Strong Performance in Commercial Engines & Services and Defense & Propulsion Technologies Drive Growth
GE stock rallied 5% early Tuesday as GE Aerospace topped quarterly results and raised its operating profit outlook.
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. Analysts say planemaker Boeing's production challenges are also expected to be a near-term benefit for GE Aerospace as it increases demand for older engines and allows the company to supply more of its LEAP engines in the aftermarket.