GE Aerospace (GE) on Tuesday reported slightly lower first-quarter net profit, while adjusted earnings rose supported by strong revenue growth.
Net income from continuing operations before income taxes edged down to $2.198 billion from $2.245 billion a year earlier.
Excluding one-time items, adjusted net income from continuing operations before income taxes grew to $2.320 billion from $1.937 billion last year.
Operating profit declined to $2.198 billion from $2.245 billion, while adjusted operating profit rose to $2.528 billion from $2.146 billion.
Net income was $1.930 billion or $1.83 per share compared with $1.967 billion or $1.83 per share a year ago.
Adjusted net income climbed to $1.963 billion from $1.601 billion, with earnings per share rising to $1.86 from $1.49.
Revenue rose to $12.392 billion from $9.935 billion a year earlier.
Adjusted revenue increased 29% to $11.614 billion from $9.001 billion.
Orders surged 87% year-on-year to $23 billion.
For the full year, the company expects adjusted EPS to be in the range of $7.10- $7.40, and adjusted operating profit between $9.85 billion-$10.25 billion.
The company's shares were up more than 4% in pre-market trading after closing at $303.60 on Monday.
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