GE Q1 2023: orders +25%, adj. revenue +17%; first positive Q1 FCF in decade

GENERAL ELECTRIC CO

2023-Q1 EPS reported $6.71 revenue$14,486,000,000

Total orders $17.6B (+25%); organic orders +26%; total revenues $14.5B (+14%).
Continuing GAAP EPS $5.56; adjusted EPS $0.27 (+$0.36 YoY).
Free cash flow $0.1B, first positive Q1 FCF in nearly a decade; +$1.3B YoY.
GE Aerospace: LEAP output +53% YoY; Air India agreement for 800 LEAP engines.
GE Vernova: Renewable Energy orders +94% organically; TenneT multi-billion Euro HVDC contracts.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENERAL ELECTRIC CO reported first-quarter 2023 results: revenue $14.5B, EPS $5.56. Guidance raised.

Period: first-quarter 2023
Revenue: $14.5B
EPS: $5.56
Guidance: raised
Result: reported results

Exact text from the filing

GE ANNOUNCES FIRST QUARTER 2023 RESULTS Double-digit orders and revenue growth with positive free cash flow; raising low end of 2023 guidance First quarter 2023: • Total orders $17.6B, +25%; organic orders +26% • Total revenues (GAAP) $14.5B, +14%; adjusted revenues* $13.7B, +17% organically* • Profit margin (GAAP) of 44.8%, +5,410 bps; adjusted profit margin* 6.4%, +330 bps organically* • Continuing EPS (GAAP) of $5.56, +$6.72; adjusted EPS* $0.27, +$0.36 • Cash from Operating Activities (GAAP) $0.2B, +$1.1B; free cash flow* $0.1B, +$1.3B

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Source: SEC EDGAR

accession 0000040545-23-000135

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