General Electric (NYSE:GE) is expected to report a year-over-year drop in profit and lower revenues when it posts its latest quarterly earnings before the opening bell in New York on Tuesday, April 25.
Across the business, supply chain challenges, including labor and material shortages, and elevated logistics costs are expected to have weighed on General Electric (NYSE:GE)’s performance during the first quarter.
Analysts, on average, expect the company to report adjusted earnings per share of $0.14.
Revenue is expected to fall about 21% to $13.46 billion from $17 billion in the year-ago quarter. Last year's revenue, however, included a $4.4 billion contribution by GE Healthcare which was spun off into a separate entity in January.
Investors will also have their eyes on the company’s aerospace and power segments following their strong performance during the fourth quarter.
Aerospace revenue is forecast to jump 22.7% year-over-year in the first quarter, according to Zacks Consensus Estimate, driven by the continued recovery of the commercial market and robust consumer demand.
The power segment is expected to be buoyed by a rebound in demand in the last few months, following a period of softness.
General Electric (NYSE:GE)'s shares were trading up 0.7% at US$100.17 on Monday afternoon.
-- Updated with share price --
Contact the author at emily.jarvie@proactiveinvestors.com
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