GE Q2 2023: orders $22.0B (+59%), rev $16.7B (+18%), adj EPS $0.68 (+$0.32); raises FY guidance

GENERAL ELECTRIC CO

2023-Q2 EPS reported $6.68 revenue$31,185,000,000

Total orders $22.0B (+59% organic at +58%); total revenue $16.7B (+18%), adjusted revenue $15.9B (+19% organic).
Continuing EPS (GAAP) $0.91 (+$2.00); adjusted EPS $0.68 (+$0.32); FCF $0.4B (+$0.2B).
GE Aerospace: LEAP output +85%, commercial services +31%, defense orders doubled, unit output +74%.
GE Vernova: record renewable orders $8.3B; Onshore/Offshore Wind & Grid up; Guernsey Power Station 1,875 MW commercial ops.
Raised full-year 2023 guidance on market strength and lean transformation; spin-off of GE Aerospace and GE Vernova expected early 2024.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENERAL ELECTRIC CO reported Q2 2023 results: revenue Total revenues (GAAP) of $16.7B; adjusted revenues $15.9B, EPS Continuing EPS (GAAP) of $0.91; adjusted EPS $0.68. Guidance raised.

Period: Q2 2023
Revenue: Total revenues (GAAP) of $16.7B; adjusted revenues $15.9B
EPS: Continuing EPS (GAAP) of $0.91; adjusted EPS $0.68
Guidance: raised
Result: reported results

Exact text from the filing

GE ANNOUNCES SECOND QUARTER 2023 RESULTS Double-digit growth in orders, revenue, operating profit, and cash; raising 2023 guidance Second quarter 2023: • Total orders of $22.0B, +59%; organic orders +58% • Total revenues (GAAP) of $16.7B, +18%; adjusted revenues* $15.9B, +19% organically* • Profit margin (GAAP) of 8.3%, +1,510 bps; adjusted profit margin* 8.8%, +160 bps organically* • Continuing EPS (GAAP) of $0.91, +$2.00; adjusted EPS* $0.68, +$0.32 • Cash from Operating Activities (GAAP) of $0.3B, $(0.2)B; free cash flow* $0.4B, +$0.2B

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accession 0000040545-23-000196

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