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General Electric finished the year on a positive note with an all-around beat in Q4, improved cash generation, margin expansion, and revenue growth. It continues to improve its operations, further embedding decentralization and lean to serve its customers better. Power delivery, within GE Vernova with continued stability at gas and took significant actions for positioning renewable energy for future profitability. The plans of GE to launch GE Aerospace and GE Vernova are progressing well. In the
Companies: General Electric Company
Baptista Research
General Electric delivered a mixed third quarter result with revenues above analyst expectations with Aerospace leading the way. Within GE Vernova, Power is still on track to expand this year. This quarter, they made significant moves to reposition renewable energy for long-term profitability. Also, outside factors like the recent climate legislation in the United States and the European energy crisis are spurring increased investment in innovative decarbonization technology, positioning this in
General Electric has started seeing a solid recovery in its aerospeace business which has become an important growth driver for the company. Backed by the surge in aerospace-related demand after the pandemic, the company delivered a strong quarter with growth in profit, revenue, and orders and positive free cash flow as well in spite of the continuing macro pressures. It managed to surpass Wall Street expectations as its high-margin services have persisted in being a bright part of this quarter.
General Electric saw an improvement in its order book position from the beginning of 2022. Organically, the orders were up by approximately 13% in both equipment and services, and double-digit growth was seen in power and aviation. There was a slight rise in revenue because of development in top-margin services in every segment. Because of supply chain constraints, inventory and receivables built in the second half, its free cash flow generation has been negative. However, one positive for the m
General Electric had a fairly decent 2021 despite the fact that the company operated in a fast-changing environment. The management managed to deliver decent free cash flows, earnings growth, and solid margin expansion. GE focused on its portfolio, strengthened its operating performance, and significantly reduced debt through decentralization and lean. There was a reduction in debt by $25 billion. As the end markets strengthen and its aviation business recovers, the management is viewing real pr
General Electric was effectively able to steer a dynamic environment in 2021, delivering decent free cash flows, earnings growth, and solid margin expansion. The company focused on its portfolio, strengthened its operating performance, and significantly reduced debt through decentralization and lean. There was a reduction in debt by $25 billion, and the company is transitioning to a simpler reporting structure. As the end markets strengthen and aviation recovers, the management is viewing real p
General Electric reported a decent result with revenues below expectations but a strong rise in the order book. The company’s aviation business saw a particularly notable jump of 69% year over year to $6.9 billion given the demand for spares from its commercial services markets. While its shipments of commercial engines were low, the company did try to offset the same through higher orders in its military business. GE Healthcare also performed exceptionally well during the quarter with a 21% jum
General Electric delivered a decent result with a surprise positive free cash flow of $388 million contrary to market expectations. The management has given a positive free cash flow guidance for the year as the company hopes to witness a recovery in its aviation business. Like most industrial players, GE is also facing inflationary pressures that are affecting most of its businesses. The company has its fair share of struggles associated with rising lead times and inventory levels, supply chain
General Electric’s restructuring and turnaround efforts have continued over the past few months but the company’s results have not been too good. A slow recovery in the power and renewable energy segments coupled with continued strength in healthcare are the key drivers behind its recent performance. GE has deeply felt the impact of the Covid-19 pandemic on its aviation segment which ultimately weighed on the overall performance of the company. Nevertheless, there are still some positive develop
Companies: GNE GE 1GE GE GEC GCP
Research Tree provides access to ongoing research coverage, media content and regulatory news on GE Aerospace. We currently have 1 research reports from 2 professional analysts.
The FY24 year-end update is very upbeat signalling trading being materially ahead of expectations, with a better-than-expected profit out turn and stronger cash generation. It continues to strengthen margins through efficiencies and investment in modern equipment. The order book remains close to record levels providing a robust view of future forecasts. In FY24E we upgrade EPS by 11% and in FY25E a significant upgrade of 27.6%. It looks capable of declaring a dividend in FY25 as well as manageme
Companies: Renold plc
Cavendish
Companies: BILN ELCO NXQ CUSN ATG
FY23 results show very strong growth over FY22, driven by strong Structural Steel activity, with results slightly ahead of upgraded profit expectations, while stronger than expected cash flow resulted in an unexpectedly generous dividend of 33p (offering a FY23 yield of 7.0%). The group now has net cash of £22.1m and is debt free and is therefore in a strong position for potential M&A activity. Following the recent £90m of new orders to increase the order book to record levels we conservatively
Companies: Billington Holdings Plc
Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k
Companies: Capital Limited
Tamesis Partners
Plant Health Care announced it has signed a distribution agreement with AMVAC, an American Vanguard Company, to support commercialisation of novel fertiliser products incorporating Plant Health Care's Harpinαβ in China starting in 2024. The novel product combines Harpinαβ technology with an AMVAC fertiliser and is expected to help growers improve crop quality and yield as part of an integrated and environmentally responsible crop production programme. AMVAC continues to evaluate Plant Health Car
Companies: Plant Health Care PLC
Companies: 88E RNO TRIN KRM EXR BOOM
Severfield’s trading update indicates that FY23 results are expected to slightly exceed market expectations and the company ends the year with a record UK and Europe order book. Furthermore, with a positive trading outlook and net debt coming in lower than expected, Severfield has announced a £10m share buyback, highlighting the cash-generative nature of the company and management’s confidence in its position. The stock trades on an FY25 P/E of less than 6x and yields 7%, which we believe appear
Companies: Severfield Plc
Edison
discoverIE’s March year-end update confirms a strong operational performance in challenging markets. Following two years when sales increased by +48%, FY 2024 Group sales were +1% ahead of 2023 at CER (reported -3%) driven by a +2% contribution from acquisitions and organic -1%. As expected, organic growth returned in the later part of the year (Q4 +2%, +11% sequentially) and the order book has reverted to normalised levels of c.4.5 months’ sales, which – combined with a continuing strong pipeli
Companies: discoverIE Group PLC
Companies: Iofina plc
Canaccord Genuity
Companies: PLL TLG HZM SAV KAV KP2 SVML
SP Angel
Acquisitions have been an important element of Severfield management’s growth strategy, with the aim of adding new products, sectors and regions to what we have identified as exciting long-term organic opportunities. In this Spotlight report, we focus on the group’s targeted M&A approach, highlighting three significant deals.
Progressive Equity Research
Liberum
Invinity’s update on discussions with strategic investors reveals interest from multiple parties. While this has slightly delayed finalising an agreement it increases the potential for a better outcome. Although details are unknown at this stage, we think there is enough in the statement to be comfortable that any agreements will be consistent with the company’s strategy of growing market share in core markets and using a licencing and royalty model in other markets.
Companies: Invinity Energy Systems PLC
Longspur Clean Energy
Severfield’s full-year results to March will be ‘slightly above’ the Board’s expectations, according to today’s trading update, with net debt significantly better. We maintain our PBT estimates for both forecast years, which are ahead of consensus, but reduce our net debt for FY24E. Record orders were boosted by the steel specialist’s European operations, after last year’s Voortman acquisition, while the Indian JV has seen ‘another step up in profitability’. The group has also launched its first
Companies: ATOME PLC
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