The General Electric Company (NYSE: GE) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when the engineering firm’s revenues increased by 7%.
The Boston-based industrial conglomerate posted adjusted earnings of $1.24 per share for the December quarter, which is up 51% from $0.82 per share reported a year earlier. On an unadjusted basis, the net profit was $1.93 per share, compared to a loss of $3.55 per share in the fourth quarter of 2021. Total revenues came in at $21.78 billion during the three-month period, which is up 7% from last year.
Check this space for management/analysts’ comments on General Electric’s Q4 2022 earnings
“Looking ahead, GE is positioned to drive growth, profit, and cash, and our outlook reflects our confidence in our businesses. In GE Aerospace, we are executing on an unprecedented ramp, and our best-in-class technology is powering more efficient and sustainable flight. In GE Vernova, Power is delivering with Gas Power stable, and Renewable Energy is taking action to drive operational improvements as it also begins to benefit from external catalysts like the Inflation Reduction Act,” said Lawrence Culp, chief executive officer of GE.
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