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The Zacks Consensus Estimate for the company’s first-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters while missing in one.
Let’s see how things are shaping up for General Electric this earnings season.
Factors to Note
Continued recovery in the commercial market and robust consumer demand are likely to have aided GE’s Aerospace segment in the first quarter. The Zacks Consensus Estimate for Aerospace segment revenues in the first quarter indicates a 22.7% jump from the year-ago reported number. Also, after months of softness, a rebound in demand in the Power segment is likely to have driven the company’s performance.
However, lower U.S. onshore wind volumes and continued pressure from onshore North American market dynamics are likely to have dented the orders in the Renewable Energy segment. Supply chain disruptions, including labor and material shortages and high logistics costs are expected to have weighted on General Electric’s performance in the to-be-reported quarter. Given the company’s substantial international presence, foreign-currency headwinds are likely to have hurt the top line in the first quarter too.
The Zacks Consensus Estimate for GE’s revenues in the first quarter suggests a 21.4% decrease from the year-ago quarter’s reported number. The consensus mark for earnings indicates a decrease of 45.8% from the year-ago period’s reported figure.
Earnings Whispers
Our proven model suggests an earnings beat for GE this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: GE has an Earnings ESP of +10.12% as the Most Accurate Estimate is pegged at 14 cents, higher than the Zacks Consensus Estimate of 13 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: GE carries a Zacks Rank #1.
Highlights of Q4 Earnings
General Electric reported fourth-quarter 2022 adjusted earnings (excluding 42 cents from non-recurring items) of $1.24 per share, which beat the Zacks Consensus Estimate of $1.11. The bottom line increased 34.8% year over year driven by higher revenues. Total revenues of $21,786 million missed the Zacks Consensus Estimate of $21,938 million. However, the top line increased 7% year over year driven by strong performance of the Aerospace, Power and healthcare segments.
Other Stocks to Consider
Here are some other companies that you may want to consider, as according to our model, these too have the right combination of elements to beat on earnings this reporting cycle.
Caterpillar (CAT - Free Report) has an Earnings ESP of +2.54% and a Zacks Rank #3. The company is scheduled to release first-quarter earnings numbers on Apr 27.
Caterpillar’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 9%.
A. O. Smith Corporation (AOS - Free Report) has an Earnings ESP of +5.78% and a Zacks Rank of 2. The company is scheduled to release first-quarter 2023 results on Apr 27.
AOS’ earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters while matching in one, the average beat being 3.2%.
Illinois Tool Works (ITW - Free Report) has an Earnings ESP of +1.49% and a Zacks Rank of 3. The company is slated to release first-quarter 2023 results on May 2.
Illinois Tool’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 0.9%.
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What's in the Offing for General Electric's (GE) Q1 Earnings?
General Electric Company (GE - Free Report) is scheduled to report first-quarter 2023 results on Apr 25, before the market open.
The Zacks Consensus Estimate for the company’s first-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters while missing in one.
Let’s see how things are shaping up for General Electric this earnings season.
Factors to Note
Continued recovery in the commercial market and robust consumer demand are likely to have aided GE’s Aerospace segment in the first quarter. The Zacks Consensus Estimate for Aerospace segment revenues in the first quarter indicates a 22.7% jump from the year-ago reported number. Also, after months of softness, a rebound in demand in the Power segment is likely to have driven the company’s performance.
However, lower U.S. onshore wind volumes and continued pressure from onshore North American market dynamics are likely to have dented the orders in the Renewable Energy segment. Supply chain disruptions, including labor and material shortages and high logistics costs are expected to have weighted on General Electric’s performance in the to-be-reported quarter. Given the company’s substantial international presence, foreign-currency headwinds are likely to have hurt the top line in the first quarter too.
General Electric Company Price and EPS Surprise
General Electric Company price-eps-surprise | General Electric Company Quote
The Zacks Consensus Estimate for GE’s revenues in the first quarter suggests a 21.4% decrease from the year-ago quarter’s reported number. The consensus mark for earnings indicates a decrease of 45.8% from the year-ago period’s reported figure.
Earnings Whispers
Our proven model suggests an earnings beat for GE this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: GE has an Earnings ESP of +10.12% as the Most Accurate Estimate is pegged at 14 cents, higher than the Zacks Consensus Estimate of 13 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: GE carries a Zacks Rank #1.
Highlights of Q4 Earnings
General Electric reported fourth-quarter 2022 adjusted earnings (excluding 42 cents from non-recurring items) of $1.24 per share, which beat the Zacks Consensus Estimate of $1.11. The bottom line increased 34.8% year over year driven by higher revenues. Total revenues of $21,786 million missed the Zacks Consensus Estimate of $21,938 million. However, the top line increased 7% year over year driven by strong performance of the Aerospace, Power and healthcare segments.
Other Stocks to Consider
Here are some other companies that you may want to consider, as according to our model, these too have the right combination of elements to beat on earnings this reporting cycle.
Caterpillar (CAT - Free Report) has an Earnings ESP of +2.54% and a Zacks Rank #3. The company is scheduled to release first-quarter earnings numbers on Apr 27.
Caterpillar’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 9%.
A. O. Smith Corporation (AOS - Free Report) has an Earnings ESP of +5.78% and a Zacks Rank of 2. The company is scheduled to release first-quarter 2023 results on Apr 27.
AOS’ earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters while matching in one, the average beat being 3.2%.
Illinois Tool Works (ITW - Free Report) has an Earnings ESP of +1.49% and a Zacks Rank of 3. The company is slated to release first-quarter 2023 results on May 2.
Illinois Tool’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 0.9%.
Stay on top of upcoming earnings announcements with Zacks Earnings Calendar.