GE Earnings Top Estimates as Aviation Gains Buoy Turnaround
An employee assembles a LEAP jet engine at the General Electric Co. (GE) Aviation assembly plant in Lafayette, Indiana.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
General Electric Co.’s jet-engine division continued to rebound from pandemic-induced lows, helping the conglomerate to post a profit that topped Wall Street expectations in spite of supply chain turmoil.
Adjusted earnings jumped to 57 cents a share in the third quarter, the company said Tuesday. Analysts had expected 43 cents, according to a survey of estimates compiled by Bloomberg. Sales slipped 0.5% to $18.4 billion, while Wall Street anticipated $19.3 billion.