General Electric Co. is scheduled to report next week its final quarterly results before the start of its breakup, with the industrial conglomerate expected to report its highest profit since before the COVID pandemic.
Before the Jan. 24 opening bell, the company GE it will release results for the fourth quarter through the end of 2022. On Jan. 3, the company completed the spinoff of its healthcare business, GE HealthCare Technologies Inc. GEHC . The spinoff of GE Vernova, which combines GE’s renewable energy, power, digital and energy financial services businesses, isn’t expected to be completed until early 2024. After that, GE will be known as GE Aerospace.
In October, GE said in its third-quarter earnings report that it expected adjusted organic profit margin for 2022 to expand by 1.25 to 1.50 percentage points, which compares with year-over-year expansion of 1 percentage point for the first nine months of 2022. That means the company was expecting the profitability of products and services sold, excluding nonrecurring costs, to increase during the fourth quarter.