- General Electric Co GE reported Q4 FY22 adjusted revenues of $21 billion, +11% organically, and GAAP total revenues of $21.8 billion, against the consensus of $21.59 billion.
- Total orders increased by 15% Y/Y to $25.4 billion and up 18% on an organic basis.
- Adjusted EPS was $1.24, down from $0.82 a year ago, beating the consensus of $1.13.
- The adjusted profit increased 37% Y/Y to $2.2 billion, and the margin improved 220 bps from 8.1% to 10.3%.
- Excluding the GE HealthCare unit, FY22 organic revenue growth was 6%, adjusted EPS of $0.77, and free cash flow of $3.1 billion.
- Related: With GE Healthcare About To Start Trading, Investors Turn Cautious On Power Business Spin-Off
- Aerospace's Q4 revenues jumped 25% to $7.62 billion, driven by commercial services revenue, while orders rose 26%.
- Sales from the renewables business unit fell 19% to $3.4 billion. In the rest of the power business, revenue increased by 8%, and orders increased by 26%.
- Guidance: For FY23, General Electric expects organic revenue growth in high single-digits, excluding the HealthCare unit. Adjusted EPS is expected to be $1.60-$2.00, compared to the consensus of $2.37.
- The company sees a free cash flow of $3.4 - $4.2 billion.
- GE's full-year outlook reflects a higher services concentration in the portfolio and confidence in the strength of GE Aerospace as the worldwide commercial aviation industry continues its post-pandemic recovery.
- Price Action: GE shares are up 1.97% at $81.35 during the premarket session on the last check Tuesday.
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