AI English summary of an SEC filing — figures as filed
GE Aerospace GEGE Aerospace said total revenues for Q1 2024 were $16.1 billion, up $1.6 billion, with increases in all segments and Corporate. Continuing earnings per share were $1.38, and Adjusted earnings per share* was $0.82.
Key points
AI summaryGE Aerospace said total revenues for Q1 2024 were $16.1 billion, up $1.6 billion, with increases in all segments and Corporate. Continuing earnings per share were $1.38, and Adjusted earnings per share* was $0.82.
The company said profit for Q1 2024 fell $4.6 billion. It cited the decrease in gains on retained and sold ownership interests of $5.3 billion, mainly related to its GE HealthCare stake, as the main factor. Profit margin was 11.6%, down from 44.8%.
GE Aerospace said cash flows from operating activities (CFOA) for Q1 2024 were $1.0 billion, compared with $0.2 billion a year earlier, and free cash flows* were $0.9 billion, compared with $0.1 billion a year earlier. The company attributed the increase to higher net income and a larger cash inflow from working capital.
The company said it completed the separation of its GE Vernova business on April 2, 2024. The separation was structured as a tax-free spin-off, with holders of GE common stock receiving 1 share of GE Vernova common stock for every 4 shares of GE common stock.
Key figures
Quarter ended March 31, 2024
- Revenue
- $16.1B
- Net income
- $1.5B
- EPS
- $1.39
- Operating cash flow
- $992M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q1 2024 Revenue and Earnings per Share
GE Aerospace said total revenues for Q1 2024 were $16.1 billion, up $1.6 billion, with increases in all segments and Corporate. Continuing earnings per share were $1.38, and Adjusted earnings per share* was $0.82.
Source · Based on the MD&A text of the filing
Lower Profit and GE HealthCare-Related Gains
The company said profit for Q1 2024 fell $4.6 billion. It cited the decrease in gains on retained and sold ownership interests of $5.3 billion, mainly related to its GE HealthCare stake, as the main factor. Profit margin was 11.6%, down from 44.8%.
Source · Based on the MD&A text of the filing
Q1 2024 Operating and Free Cash Flow
GE Aerospace said cash flows from operating activities (CFOA) for Q1 2024 were $1.0 billion, compared with $0.2 billion a year earlier, and free cash flows* were $0.9 billion, compared with $0.1 billion a year earlier. The company attributed the increase to higher net income and a larger cash inflow from working capital.
Source · Based on the MD&A text of the filing
Completion of GE Vernova Separation
The company said it completed the separation of its GE Vernova business on April 2, 2024. The separation was structured as a tax-free spin-off, with holders of GE common stock receiving 1 share of GE Vernova common stock for every 4 shares of GE common stock.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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