GE Aerospace announced on Tuesday that it had raised its annual targets after reporting a marked improvement in its financial performance over the first three months of the year.

In its first publication as an independent entity since its spin-off from GE Vernova, the aircraft engine manufacturer saw its order intake climb by 34% to $11 billion in the first quarter.

Its sales rose by 15% to $8.1 billion in the January-March period, giving operating income of $1.5 billion, up 24%.

The US group now expects full-year operating income of between $6.2 and $6.6 billion, compared with a previous forecast of between $6 and $6.5 billion.

GE Aerospace shares were expected to rise by more than 4% on Tuesday morning in pre-market trading following this publication.

GE Vernova, GE's former power plant division, which is now listed separately, will publish its first-quarter results on Thursday.

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