General Electric (NYSE:GE) is expected to report earnings growth driven by its Aerospace division when it hands down its third quarter financial results before the market open on Tuesday, October 24.
GE’s Aerospace segment is expected to report robust commercial aerospace performance, growth in LEAP engine deliveries, and an increase in defense engine contracts.
Revenue growth of 17.5% year-over-year is expected for the Aerospace segment, according to Zacks Investment Research.
GE's Power segment is expected to be driven by its heavy-duty gas turbine services from GE Gas Power and its gas turbine business.
On the flip side, higher prices of raw materials and unfavorable forex are expected to drag on the company's quarterly performance.
GE is expected to report earnings per share (EPS) of $0.35 on revenue of $15.5 billion for 3Q.
This compares to EPS of $0.35 on revenue of $19.1 billion for the year-ago quarter.
General Electric (NYSE:GE) shares closed at US$106.95 on Thursday.
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