General Electric (NYSE: NYSE:GE) stock surged 4.4% after the company announced improved Q3 earnings, indicating a significant turnaround from last year's $313 million loss to an $84 million net income this year. The adjusted earnings per share (EPS) of 82 cents exceeded the predicted 56 cents, and revenue hit $17.3 billion, surpassing the forecasted $15.5 billion.
Total orders for GE saw a 19% rise to $17.9 billion, primarily attributable to strong performance and robust demand in its Aerospace division. Lawrence Culp Jr., CEO of General Electric, highlighted the profitability of GE Vernova's Grid and Onshore Wind businesses this quarter, suggesting continued growth and a potential spin-off next year.
In addition to the impressive Q3 results, GE also updated its annual guidance, predicting an adjusted EPS ranging from $2.55 to $2.65. This optimistic outlook reflects the company's successful recovery from last year's losses and its strong position moving forward.
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