GE Aerospace said it completed the separation of GE Vernova on April 2, 2024. As of March 19, 2024, it distributed one share of GE Vernova common stock for every 4 shares of its common stock held, and after the distribution it no longer consolidates GE Vernova into its financial results. Wait

1. 01

   GE Aerospace said it completed the separation of GE Vernova on April 2, 2024. As of March 19, 2024, it distributed one share of GE Vernova common stock for every 4 shares of its common stock held, and after the distribution it no longer consolidates GE Vernova into its financial results. Wait

2. 02

   The company said it will report GE Vernova's historical results and certain assets and liabilities as discontinued operations beginning in Q2 2024. It now operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies.

3. 03

   The company said that for Q1 2024 (3 months), total revenues after reclassification were $9.0 billion, and earnings from continuing operations were $1.7 billion ($1.58 per diluted share). As reported, total revenues were $16.1 billion, and earnings from continuing operations were $1.5 billion ($1.38 per diluted share).

4. 04

   The company said Adjusted earnings (Non-GAAP) for Q1 2024 (3 months) were $1.0 billion ($0.93 per share), and Free cash flows (Non-GAAP) were $1.7 billion. Cash from operating activities – continuing operations (GAAP) was $1.6 billion.

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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

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