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The GE Aerospace booth at the China International Import Expo in Shanghai, China on Nov. 5, 2024GE Aerospace (GE) shares rose Tuesday morning after the company's first-quarter results came in above expectations.
The engine manufacturer reported adjusted earnings per share (EPS) of $1.49 on revenue of $9.94 billion. Analysts had expected $1.26 and $9.77 billion, respectively, according to estimates compiled by Visible Alpha.
GE Aerospace affirmed its full-year guidance, including adjusted EPS of $5.10 to $5.45.
"The macroeconomic dynamics we are operating in today require us to take a number of strategic actions, such as controlling costs, and leveraging available trade programs," GE Aerospace CEO Larry Culp said. "Based on what we know today, these actions, along with our solid first quarter and commercial services backlog of over $140 billion, enable us to maintain our full-year guidance."
The company said it plans to mitigate the impact of tariffs by "optimizing operations, leveraging existing programs and strategies, taking measures to control cost, and implementing pricing actions."
GE Aerospace shares were up 3% shortly after markets opened. They entered the day up about 7% this year, but tumbled earlier this month amid concerns over the impact tariffs could have on all three former General Electric divisions.
GE Aerospace Surpasses 1 Year as Standalone Company
Analysts remain bullish on GE Aerospace a year after it split from GE Vernova (GEV). All 10 brokers tracked by Visible Alpha rate the stock a "buy," with an average price target of $224.90, about 26% above where shares entered trading Tuesday.
The company last month announced plans to invest nearly $1 billion in its U.S. factories and supply chain this year, roughly double what it spent on them in 2024.
UPDATE—This article has been updated with the latest share price information.
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