Proactive Investors - General Electric (NYSE:GE) is expected to post a drop in both revenue and profits for the fourth quarter when it reports its latest financials on Tuesday, January 23, before the stock market opens.
For the quarter, the aerospace and power company is expected to report revenue of $17.4 billion, down 20.2% from the year-ago quarter.
Earnings per share (EPS) are expected to be $0.90, down from $1.24 for the same period in 2022.
When handing down its third quarter financial results in October, GE raised its full-year 2023 guidance.
It expects revenue growth in the low teens from 2022’s full-year revenue of $76.6 billion and adjusted EPS of $2.55 to $2.65
For its aerospace segment, it expects revenue growth in the low 20s and a profit of about $6 billion and for its energy business, it expects revenue growth in the high single digits and a loss between $0.3 billion and $0.1 billion.
Wall Street analysts expect GE to report full year earnings per share of $2.66 on revenue of $64.7 billion.
GE shares traded at US$128.61 on Tuesday morning.