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GE stock climbs premarket after posting better-than-expected Q3 earnings and raising guidance

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Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

General Electric Co.’s stock GE, +0.58% rose 4.4% in premarket trade Tuesday, after the company posted better-than-expected third-quarter earnings and raised its guidance. The company had net income of $84 million, or 8 cents a share, for the quarter, after a loss of $313 million, or 29 cents a share, in the year-earlier period. Adjusted per-share earnings came to 82 cents, well ahead of the 56 cent FactSet consensus. Revenue rose 20% to $17.3 billion, also ahead of the $15.

“At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in Commercial Engines and Services,” Chief Executive Lawrence Culp Jr. said in a statement. “At GE Vernova, our Grid and now Onshore Wind businesses were both profitable this quarter and we expect their performance to continue to improve.

 

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