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GE (GE) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2023, General Electric (GE - Free Report) reported revenue of $14.49 billion, down 15% over the same period last year. EPS came in at $0.27, compared to $0.24 in the year-ago quarter.
The reported revenue represents a surprise of +7.69% over the Zacks Consensus Estimate of $13.45 billion. With the consensus EPS estimate being $0.13, the EPS surprise was +107.69%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how GE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Aerospace: $6.98 billion versus the four-analyst average estimate of $6.75 billion. The reported number represents a year-over-year change of +24.6%.
Revenues- Power: $3.82 billion compared to the $3.57 billion average estimate based on four analysts.
Revenues- Renewable Energy: $2.84 billion versus the four-analyst average estimate of $2.81 billion.
Segment profit (loss)- Aerospace: $1.33 billion versus $1.13 billion estimated by four analysts on average.
Segment profit (loss)- Renewable Energy: -$414 million compared to the -$460.63 million average estimate based on four analysts.
Segment profit (loss)- Power: $75 million versus $148.87 million estimated by four analysts on average.
Shares of GE have returned +7.3% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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GE (GE) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2023, General Electric (GE - Free Report) reported revenue of $14.49 billion, down 15% over the same period last year. EPS came in at $0.27, compared to $0.24 in the year-ago quarter.
The reported revenue represents a surprise of +7.69% over the Zacks Consensus Estimate of $13.45 billion. With the consensus EPS estimate being $0.13, the EPS surprise was +107.69%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how GE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Aerospace: $6.98 billion versus the four-analyst average estimate of $6.75 billion. The reported number represents a year-over-year change of +24.6%.
- Revenues- Power: $3.82 billion compared to the $3.57 billion average estimate based on four analysts.
- Revenues- Renewable Energy: $2.84 billion versus the four-analyst average estimate of $2.81 billion.
- Segment profit (loss)- Aerospace: $1.33 billion versus $1.13 billion estimated by four analysts on average.
- Segment profit (loss)- Renewable Energy: -$414 million compared to the -$460.63 million average estimate based on four analysts.
- Segment profit (loss)- Power: $75 million versus $148.87 million estimated by four analysts on average.
View all Key Company Metrics for GE here>>>Shares of GE have returned +7.3% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.