Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.
GE Aerospace, a segment of General Electric Company (NYSE: GE), is a global leader in the design, manufacture, and service of aircraft engines. Founded in 1892 and headquartered in Boston, GE has a rich history tied to American inventor Thomas Edison. While GE operates in multiple industries including power, renewable energy, digital industry, and additive manufacturing, GE Aerospace remains its core business.
With nearly 70,000 commercial and military engines installed worldwide, GE Aerospace generates significant revenue from the recurring service and maintenance of these engines. The company's partnership with Safran in their CFM joint venture further solidifies its leadership in aerospace propulsion.
Recent achievements for GE Aerospace include significant deals and technological advancements. Notably, GE Aerospace retained its portfolio of intellectual property related to aerospace and defense technologies after a definitive agreement with Dolby Laboratories to acquire GE Licensing. This acquisition, valued at $429 million and expected to close by the end of fiscal year 2024, highlights GE Aerospace's focus on its core aerospace and defense markets.
In another major development, GE Vernova's Onshore Wind business, a part of GE's power and renewable energy segment, announced a landmark deal with Pattern Energy. This deal involves the supply of 674 wind turbines for the SunZia Wind project, set to be the largest wind project in the Western Hemisphere. This project is a testament to GE's commitment to renewable energy and showcases its ability to deliver large-scale, high-efficiency projects.
Moreover, GE Aerospace continues to innovate with products like the 3.6-154 wind turbine, which incorporates advanced AI-trained blade manufacturing processes. This turbine is built to meet U.S. market needs and is part of GE's strategy to drive quality and reliability across its fleet.
Financially, GE Aerospace is robust, leveraging its longstanding expertise and extensive global network to maintain a strong market position. The company's continuous investments in technology, such as the new manufacturing assembly line for its Onshore Wind business in Schenectady, New York, reflect its commitment to enhancing American manufacturing and supporting climate change goals.
GE Aerospace's mission to define the future of flight and bring innovative solutions to the aerospace and defense sectors is backed by its substantial workforce of 52,000 employees globally. The company's operations aim to provide affordable, reliable, sustainable, and secure energy solutions, reinforcing its leadership in the industry.
Air India has finalized a significant order with GE Aerospace, comprising 40 GEnx-1B and 20 GE9X engines, alongside a multi-year TrueChoice™ engine services agreement. This deal aligns with Air India's purchase of 20 Boeing 787 and 10 Boeing 777X aircraft. Additionally, Air India placed a record order for over 800 LEAP engines, marking the largest LEAP order for its 210 Airbus A320/A321neo and 190 Boeing 737 MAX aircraft. GE claims these engines are more fuel-efficient and eco-friendly, supporting Air India's Vihaan.AI transformation plan aimed at expanding its fleet and modernizing operations.
The Board of Directors of GE (NYSE: GE) has declared a $0.08 per share dividend on its outstanding common stock. This dividend is payable on April 25, 2023, to shareholders who are on record as of the close of business on March 7, 2023. The ex-dividend date is set for March 6, 2023.
GE continues to leverage over 130 years of experience to enhance industrial efficiency and reliability, driven by a diverse and dedicated workforce.
GE Digital has entered a multiyear collaboration with Amazon Web Services (AWS) to accelerate grid modernization for utilities. This partnership aims to develop intelligent grid orchestration solutions, utilizing GE's GridOS software and AWS's cloud infrastructure. Notably, New Zealand's Vector Limited has successfully implemented GE's Advanced Distribution Management System on AWS Outposts, enhancing network reliability and efficiency. The initiative focuses on reducing operational costs and aiding utilities in transitioning to a clean energy grid. GE Digital serves over 20,000 customers globally and emphasizes the importance of innovative, secure software in the energy sector.
GE Grid Solutions has developed the world's largest Static Synchronous Compensator (STATCOM) for the Channel Tunnel, enhancing capacity by 60% to support up to 16 trains simultaneously. This allows Eurotunnel to operate up to 1,000 trains daily, maintaining its status as the busiest rolling motorway globally. The STATCOM technology improves voltage stability, grid resilience, and power transfer while contributing to project cost savings and reducing environmental impact. Eurostar aims to increase passenger capacity to 30 million annually by 2030, facilitated by this technological advancement.
GE HealthCare reported a strong performance for 4Q 2022, with revenues of $4.9 billion, up 8% year-over-year, and 13% organic revenue growth. Net income was $554 million compared to $564 million last year, while adjusted EBIT increased to $844 million from $827 million. The net income margin declined to 11.2% from 12.3%. Despite these challenges, the company reaffirmed 2023 guidance, anticipating organic revenue growth of 5% to 7% and adjusted EPS between $3.60 to $3.75. The CEO expressed confidence in future revenue and margin growth driven by innovation and market demand.
FARO (Nasdaq: FARO) announced on January 19, 2023, the appointment of Jawad Ahsan to its Board of Directors effective February 1, 2023. Ahsan, previously the CFO of Axon and with extensive experience at General Electric, is expected to aid FARO's strategic shift toward hardware-software solutions. The company also confirmed the retirement of long-serving board member Stephen Cole, with Alex Davern stepping in as Audit Committee Chair. This leadership transition is crucial as FARO continues to innovate in 3D measurement and analytics.
GE HealthCare reported strong revenue growth for Q4 and full-year 2022, driven by high customer demand and improved pricing. Q4 revenue reached approximately
GE HealthCare (GEHC) has announced its acquisition of IMACTIS, a French company specializing in computed tomography (CT) interventional guidance. This move aims to enhance GE HealthCare's IMACTIS CT-Navigation system, leveraging the company’s global scale and installed base for future expansion. IMACTIS's CT-Navigation technology facilitates accurate and efficient minimally invasive procedures, improving patient outcomes. The transaction is subject to customary closing conditions and will be funded with cash on hand. Financial details remain undisclosed.
GE has successfully completed the spin-off of its healthcare business, GE HealthCare Technologies Inc., which will commence trading on Nasdaq under the ticker GEHC from January 4, 2023. This pivotal move is expected to enhance GE's focus on critical sectors, as it retains a 19.9% stake in GE HealthCare. CEO H. Lawrence Culp Jr. expressed confidence in the future growth of both GE Aerospace and GE Vernova, planned to launch as independent companies in early 2024.
GE HealthCare has successfully completed its spin-off from General Electric and will now trade independently on Nasdaq under the ticker symbol GEHC. The company operates in over 160 countries with around 51,000 employees and generates roughly $18 billion in revenue. GE HealthCare invests over $1 billion in R&D annually and caters to more than one billion patients yearly. The company forecasts its addressable markets to grow from $84 billion in 2021 to $102 billion by 2025, emphasizing a strategic focus on precision care supported by advanced digital solutions.
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