GE Aerospace Stock Price, News & Analysis

FARO (Nasdaq: FARO) announced on January 19, 2023, the appointment of Jawad Ahsan to its Board of Directors effective February 1, 2023. Ahsan, previously the CFO of Axon and with extensive experience at General Electric, is expected to aid FARO's strategic shift toward hardware-software solutions. The company also confirmed the retirement of long-serving board member Stephen Cole, with Alex Davern stepping in as Audit Committee Chair. This leadership transition is crucial as FARO continues to innovate in 3D measurement and analytics.

GE HealthCare reported strong revenue growth for Q4 and full-year 2022, driven by high customer demand and improved pricing. Q4 revenue reached approximately $4.9 billion, a 7% year-over-year increase, with organic growth at 12%. Full-year 2022 revenue totaled about $18.3 billion, marking a 4% growth. For 2023, the company anticipates organic revenue growth between 5% and 7%, an Adjusted EBIT margin of 15.0% to 15.5%, and a Free cash flow conversion exceeding 85%.

GE HealthCare (GEHC) has announced its acquisition of IMACTIS, a French company specializing in computed tomography (CT) interventional guidance. This move aims to enhance GE HealthCare's IMACTIS CT-Navigation system, leveraging the company’s global scale and installed base for future expansion. IMACTIS's CT-Navigation technology facilitates accurate and efficient minimally invasive procedures, improving patient outcomes. The transaction is subject to customary closing conditions and will be funded with cash on hand. Financial details remain undisclosed.

GE has successfully completed the spin-off of its healthcare business, GE HealthCare Technologies Inc., which will commence trading on Nasdaq under the ticker GEHC from January 4, 2023. This pivotal move is expected to enhance GE's focus on critical sectors, as it retains a 19.9% stake in GE HealthCare. CEO H. Lawrence Culp Jr. expressed confidence in the future growth of both GE Aerospace and GE Vernova, planned to launch as independent companies in early 2024.

GE HealthCare has successfully completed its spin-off from General Electric and will now trade independently on Nasdaq under the ticker symbol GEHC. The company operates in over 160 countries with around 51,000 employees and generates roughly $18 billion in revenue. GE HealthCare invests over $1 billion in R&D annually and caters to more than one billion patients yearly. The company forecasts its addressable markets to grow from $84 billion in 2021 to $102 billion by 2025, emphasizing a strategic focus on precision care supported by advanced digital solutions.

GE Grid Solutions has signed a contract with transmission system operator TransnetBW to redesign and expand the Pulverdingen substation near Stuttgart, enhancing its capacity for greater power fluctuations. This long-term project aims to improve the security of the power supply in the region, with a completion target of 2033. Key upgrades include the installation of 26 bays of 380 kV air-insulated switchgear and improved transmission capacity. This initiative reflects GE's commitment to scalable power solutions and long-term partnerships in Europe's energy infrastructure.

Boom Supersonic has introduced Symphony, a new propulsion system for its Overture supersonic airliner, collaborating with industry leaders like FTT, GE Additive, and StandardAero. Symphony aims to provide an economically and environmentally sustainable supersonic experience, achieving net zero carbon emissions and compliance with Chapter 14 noise levels. The new engine is projected to enhance operating efficiency, increasing time on wing by 25% and reducing maintenance costs by 10%. Overture is on schedule for type certification in 2029, with production starting in 2024.

GE Digital announced the installation of its APM Reliability software at ELPEDISON's combined cycle power plants in Greece. This initiative aims to enhance reliability and reduce unplanned downtime by predicting equipment issues. ELPEDISON is the first energy producer in Greece to implement digital twin technology across an entire plant. This partnership solidifies GE's strategic relationship with ELPEDISON during a significant energy supply crunch in Europe, ensuring reliable power access. GE Digital is recognized as a leader in APM solutions, facilitating efficiency and sustainability in energy production.

GE announced a significant milestone as GE HealthCare prepares for its spin-off, set to complete after market close on Jan. 3, 2023, with public trading starting on Jan. 4, 2023. The company aims to be a global leader in precision care, focusing on innovation, optimization, and organic investment to drive revenue and margin growth. During an Investor Day in New York, executives discussed strategic priorities, medium-term financial targets, and the agility of being a standalone entity, projecting mid-single-digit organic revenue growth and strong free cash flow generation.