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The Latest Breaking News from General Electric Co

Carrier Emirates Test Flies Boeing 777 on Sustainable Fuel

Long-haul carrier Emirates successfully flew a Boeing 777 on a test flight Monday with one engine entirely powered by so-called sustainable aviation fuel. This comes as carriers worldwide try to lessen their carbon footprint. Flight No. EK2646 flew for just under an hour over the coastline of the United Arab…

Asharq Al-Awsat

Union, GE reach deal for faster raises at New England plants

The largest union representing General Electric Co. workers says it's reached a deal with the company to speed up pay raises for workers at a Massachusetts aviation plant

The Independent UK

Air France-KLM Inks Agreement With CFM For Engine Configuration

Air France-KLM (OTC:AFLYY) has established an agreement with CFM International to acquire 200 LEAP-1A engines to power its new fleet of Airbus SE (OTC:EADSY) A320neo and A321neo. Financial terms were not disclosed. CFM International is a 50/50 joint venture between GE Aviation, a division of General Electric Co (NYSE:GE), and Safran Aircraft Engines, a division of Safran (OTC:SAFRY). Last…

Benzinga

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GE CEO to take reins at its aviation business as comeback in airline travel is marred by supply chain bottlenecks, labor shortages

General Electric Co.’s chief executive officer will take on the additional job as CEO of its aviation unit, the Boston-based company announced Monday.

Tribune News Service

GE Makes Leadership Changes In Aviation Unit: All You Need To Know

General Electric Co (NYSE:GE) has named its current Chairman and CEO H. Lawrence Culp, Jr., to take up the additional role of CEO of GE Aviation, effective immediately. GE Aviation's current President and CEO, John Slattery, has been named Executive Vice President and Chief Commercial Officer of the business. GE named Russell…

Benzinga

Wheels Up Taps GE Executive Todd Smith As Finance Chief

Wheels Up Experience Inc (NYSE:UP) has hired Todd Smith as its new Chief Financial Officer, effective June 30, 2022. Smith most recently served as Global Head of Financial Planning and Analysis and CFO for GE Corporate. He served in several senior global Finance roles at General Electric Co (NYSE:GE) over his 25-year career. At…

Benzinga

Janus International Taps GE Executive Anselm Wong As Finance Chief

Janus International Group Inc (NYSE:JBI) has appointed Anselm Wong as EVP and CFO, effective July 1, 2022. Wong will succeed Scott Sannes. Wong brings 25 years of experience in finance leadership and strategy roles to oversee Janus' finance organization. Wong joins Janus from General Electric Co (NYSE:GE), where he served as CFO of GE…

Benzinga

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Benchmark Downgrades AeroClean After Share Price Rallies

Benchmark analyst Robert Wasserman downgraded AeroClean Technologies Inc (NASDAQ:AERC) to Hold from Buy, without a price target. The analyst notes that despite a poor overall market outlook, the company's shares have quickly reached and exceeded earlier price targets. Wasserman downgraded the rating on AERC at this time due to share price and market volatility.…

Benzinga

Are Investors Overreacting To General Electric Earnings? This Investor Can't Wait To Buy More GE Stock

General Electric Co (NYSE: GE) shares hit a new 52-week low on Tuesday after the company reported financial results.

Benzinga

GE Stock Slides After Q1 Earnings, Warns On Inflation Pressure

General Electric Co (NYSE:GE) reported first-quarter FY22 adjusted revenue of $16.3 billion flat year-over-year and organic revenues of $16.43 billion, up 1% Y/Y. Total GAAP revenues were flat at $17.04 billion. Total orders increased by 11% Y/Y to $18.9 billion and +13% on an organic basis. Adjusted EPS was $0.24, an increase of…

Benzinga

GE Secures Order For Six Gas Turbine Packages; Alliance Airlines Expands Relationship With GE Digital

General Electric Co (NYSE:GE) received an order from Taiwan Power Company (TPC) for six of its advanced LM2500XPRESS gas turbine packages aiming to provide a rapid, highly modular technology. Financial terms were not disclosed. GE expects to build TPC's 175 megawatts (MW) Tung Hsiao Power Plant Renewal Project gas plant in less than…

Benzinga

Barclays Trims GE Price Target By Less Than 1% - Read Why

General Electric Co's (NYSE:GE) price target has been lowered to $115 (an upside of 22%) from $116 by Barclays analyst Julian Mitchell. The analyst maintained the Overweight rating on the shares. Related: GE Reiterates FY22 Outlook At Its 2022 Investor Day Mitchell lowered earnings estimates for 2022 and 2023. The analyst anticipates 2022 to be a…

Benzinga

GE-BOND Consortium Secures Contract To Build Electrical Systems For New York Project

GE-BOND consortium between General Electric Co (NYSE:GE) GE Renewable Energy's Grid Solutions and New York-based BOND Civil & Utility Construction has secured an EPC contract from Empire Offshore Wind to supply a digital onshore substation for Empire Wind 1 offshore wind farm project in New York. Financial terms were not disclosed. Empire Offshore Wind…

Benzinga

GE Chief Larry Culp Agrees To $10M Pay Cut This Year, Keeps Job Until 2024 After Shareholder Concerns

General Electric Co (NYSE: GE) said on Thursday CEO Larry Culp has agreed to lower his annual compensation by $10 million and retained his contract until 2024 in response to shareholder concerns last year.

Benzinga

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Benzinga

GE Reiterates FY22 Outlook At Its 2022 Investor Day

General Electric Co (NYSE:GE) is hosting its 2022 Investor Day at its Power and Aviation facilities in Greenville, South Carolina. Link to the event. The company reaffirmed its FY22 outlook for organic revenues to grow in the high-single-digit range and the adjusted organic profit margin to expand by 150+ basis points. Adjusted…

Benzinga

Why GE Shares Are Trading Higher Today

General Electric Co (NYSE:GE) Board authorized up to $3 billion of common share repurchases. GE expects to consider share repurchases as one of the potential capital allocation alternatives on an ongoing basis, along with organic and inorganic investments, as it plans to establish three global, investment-grade companies. GE also disclosed that it…

Benzinga

Credit Suisse Cuts General Electric Price Target By 5%

Credit Suisse analyst John Walsh lowered the price target on General Electric Co (NYSE:GE) to $116 (an upside of 30.2%) from $122 and maintained an Outperform rating on the shares. Walsh also updated his quarterly 2022 EPS estimates into GE's analyst day on March 10th, leaving the full year unchanged. Related: GE Stock Slides As Supply…

Benzinga

GE Stock Slides As Supply Chain Headwinds Masks Progress

General Electric Co (NYSE:GE) issued an investor newsletter, mentioning continued supply chain pressure across most of its businesses as material and labor availability and inflation affect Healthcare, Renewable Energy, and Aviation. GE expects these challenges to persist at least through the first half of the year. GE said it had included such…

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Benzinga

Singapore Airlines Inks $2.8B Order For 22 GE9X Engines, Services

Singapore Airlines (OTC:SINGY) has ordered an additional 22 GE9X engines from General Electric Co (NYSE:GE) operating unit GE Aviation to power its 777-9 aircraft fleet. The order includes a 12-year GE TrueChoice services contract and is valued at $2.8 billion at list price. Singapore Airlines has 31 Boeing Co (NYSE:BA) 777-9 aircraft on order. In 2017, the…

Benzinga

Genpact Stock Falls Post Q4 Results

Genpact Ltd (NYSE:G) reported fourth-quarter FY21 revenue growth of 13% year-on-year to $1.07 billion, above the consensus of $911.92 million. Revenue from Global Clients was $979 million, up 16% Y/Y. Revenue from General Electric Co (NYSE:GE) businesses was $93 million, down 14% Y/Y. Adjusted EPS of $0.54 beat the consensus of $0.46. Genpact generated $247…

Benzinga

GE Agrees To Sell Part Of Steam Power's Nuclear Activities To EDF

General Electric Co (NYSE:GE) agreed to divest part of GE Steam Power’s nuclear power activities to EDF Group, an integrated electricity company listed on the Paris Stock Exchange. Financial terms were not disclosed. The transaction includes GE Steam Power’s conventional island equipment for new nuclear power plants and maintenance and upgrades for…

Benzinga

Why This Investor Would Buy General Electric Stock On The Dip Following Q4 Earnings

General Electric Co (NYSE: GE) is trading lower Tuesday after the company announced mixed fourth-quarter financial results.

Benzinga

GE Q4 Revenue Misses Street View; Expects Revenue Growth In FY22

General Electric Co (NYSE:GE) reported a fourth-quarter FY21 revenue decline of 3% year-over-year to $20.30 billion, missing the consensus of $21.48 billion. Total orders declined by 5% Y/Y to $22.1 billion and decreased by 4% on an organic basis. Adjusted EPS was $0.82, up by 67% Y/Y, while GAAP Continuing EPS loss was…

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