General Electric (NYSE:GE) is set to announce its Q3 2023 results on Tuesday, October 24, with expectations of a strong performance in the commercial aerospace sector and growth in LEAP engine deliveries. According to the company's previous records, it is predicted to report a 17.5% year-over-year revenue increase in the Aerospace segment.
InvestingPro data shows that GE has a market cap of 118.32B USD and a P/E ratio of 12.62. The company's revenue growth for LTM2023.Q2 is recorded at 23.24%, with a gross profit of 20.02B USD. These figures underscore the company's robust financial health and potential for continued growth.
The company has a history of surpassing earnings estimates, with an average beat of 35.4% in three out of four previous quarters, indicating potential for a positive outcome this quarter as well. This aligns with the InvestingPro Tip that GE has strong earnings, which should allow management to continue dividend payments, a practice the company has maintained for 53 consecutive years.
In addition to the aerospace sector, GE's Power segment is anticipated to show strength, backed by the heavy-duty gas turbine services of GE Gas Power and the gas turbine business. The acquisition of Nexus Controls has enabled the development of a unified controls business line for GE’s proprietary Mark Vle controls systems platform, adding further potential for growth in this segment.
The acquisition of Greenbird Integration Technology AS is expected to enhance GE's GridOS capabilities for seamless system connectivity and data integration across the grid. This could positively influence the company's Q3 performance. Adjusted earnings are projected to rise by an impressive 60% year-over-year, which is consistent with the InvestingPro Tip that GE's net income is expected to grow this year.
GE’s Q3 results could face some headwinds due to challenges like raw material cost inflation and forex issues. Forex problems are specifically predicted to cause an 18.7% revenue decline compared to the same quarter last year. Yet, it's worth noting that GE operates with a moderate level of debt and generally trades with low price volatility, as per InvestingPro Tips.
In parallel with GE's earnings release, other companies such as Emerson (NYSE:EMR) Electric Co., set to release Q4 fiscal 2023 results on Monday, October 30, and Ingersoll Rand (NYSE:IR) Inc., unveiling Q3 2023 results on Wednesday, November 1, are also anticipated to surpass earnings estimates during this reporting cycle.
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