GE Aerospace raised its full-year adjusted earnings per share guidance to a range of $8.00 to $8.10, marking a significant upward revision from its previous forecast of $7.65 to $7.85. The decision follows a third quarter in which the company delivered results that mixed above-expected profitability with slightly below-expected cash generation.
For the third quarter, GE Aerospace reported earnings per share from continuing operations of $2.32. Its adjusted earnings per share came in at $2.25, surpassing the estimated $2.01. On the revenue front, total adjusted revenue for the quarter reached $13.29 billion, exceeding the estimated $12.86 billion. Within that total, the Defense & Propulsion Technologies segment generated $3.47 billion in revenue.
While the top-line and profit figures beat expectations, adjusted free cash flow for the quarter stood at $2.04 billion, falling short of the estimated $2.22 billion. The divergence between the strong earnings beat and the cash flow shortfall highlights a complex picture for investors, yet management clearly saw enough confidence in the broader trajectory to push its annual targets higher.