General Electric (GE) reported Q3 adjusted earnings Tuesday of $0.82 per share, swinging from a loss of $0.17 per share a year earlier.
Analysts polled by Capital IQ expected $0.56.
Revenue for the quarter ended Sept. 30 was $17.35 billion, compared with $14.47 billion a year earlier.
Analysts surveyed by Capital IQ expected $15.69 billion.
For 2023, the industrial conglomerate said it now expects adjusted earnings of $2.55 to $2.65 per share, from prior outlook range of $2.10 to $2.30. Analysts surveyed by Capital IQ expect $2.34. The company also said it now expects organic revenue growth in the low teens, from its previously announced guidance of a low-double-digit growth rate.
Separately, the company said it plans to spin off GE Vernova and launch GE Aerospace at the beginning of Q2 2024. GE Vernova will trade on the New York Stock Exchange under the symbol “GEV,” while GE Aerospace will continue GE’s listing on the exchange under the symbol “GE.”