Tue, Jul 23, 10:30 AM (46 days ago)
General Electric Company's Q2 2024 10-Q report highlights solid financial performance driven by increased revenues and segment profits. Total revenues reached $9.1 billion, up $0.3 billion year-over-year, primarily from Commercial Engines & Services. The company posted a profit margin of 15.9%, with operating profit margins improving to 23.1%. Cash flows from operating activities were strong at $2.6 billion, up from $1.6 billion in the prior year, while free cash flows increased to $2.8 billion. The company completed the spin-off of GE Vernova, which is now reported as discontinued operations. GE Aerospace's future performance is expected to benefit from robust demand in commercial air travel and defense sectors, despite ongoing supply chain challenges and inflationary pressures.