By Geoffrey Smith
Investing.com -- General Electric (NYSE:GE) stock rose in premarket trading on Tuesday after the industrial giant beat forecasts in the final quarter of 2022 and predicted another strong year ahead for its aerospace business in particular.
GE, which is still working through a multi-year program to cut debt and simplify its sprawling operations, said adjusted earnings per share in the three months through December rose by more than 50% from a year ago to $1.24. That was ahead of expectations for $1.15 and represented nearly half of the company's earnings for the whole year. Revenue also came in ahead of expectations at $21.79 billion, up 7% on the year, while free cash flow rose 16% to $4.29B.
For the coming year, GE said it expects adjusted EPS - excluding GE HealthCare which is now a standalone company - to total between $1.60 and $2.00, while organic revenue is expected to grow by just under 10% and free cash flow is seen in a range around $3.80B.