GE's Q1 Forecast Falls Short Despite Strong Q4 Earnings

Shares drop as the company prepares for a historic breakup, separating its aerospace and energy businesses in April.

General Electric's Q4 2023 earnings exceeded expectations, with adjusted earnings at $1.03 per share, higher than the anticipated 91 cents.
Despite the strong Q4 results, GE's Q1 2024 forecast fell short of Wall Street's expectations, predicting earnings of 60 to 65 cents a share, missing the 70-cent average.
GE's shares fell by 1.7% following the announcement of the Q1 forecast.
The company is preparing for a historic breakup in early April 2024, separating its aerospace and energy businesses into standalone entities.
GE's aerospace business is expected to generate an operating profit of up to $6.5 billion in 2024, while the GE Vernova energy businesses are projected to generate revenue of up to $35 billion.