Wall Street analysts expect GE Aerospace (GE) to post quarterly earnings of $1.63 per share in its upcoming report, which indicates a year-over-year increase of 9.4%. Revenues are expected to be $10.61 billion, up 17.9% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific GE metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Total Revenues- Defense and Propulsion Technologies' to come in at $2.93 billion. The estimate points to a change of +26% from the year-ago quarter.
Based on the collective assessment of analysts, 'Total Revenues- Commercial Engines and Services' should arrive at $8.11 billion. The estimate indicates a change of +16.3% from the prior-year quarter.
The combined assessment of analysts suggests that 'Segment profit- Defense & Propulsion Technologies' will likely reach $361.10 million. The estimate compares to the year-ago value of $296.00 million.
It is projected by analysts that the 'Segment profit- Commercial Engines & Services' will reach $2.14 billion. The estimate compares to the year-ago value of $1.92 billion.
View all Key Company Metrics for GE here>>>GE shares have witnessed a change of +4.3% in the past month, in contrast to the Zacks S&P 500 composite's +6% move. With a Zacks Rank #3 (Hold), GE is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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