GE Aerospace Stock Price, News & Analysis

GE has announced the results of its Tender Offer as of 5:00 p.m. on November 22, 2022, with approximately $9.3 billion in U.S. dollars, £629 million in Pounds Sterling, and €865 million in Euros validly tendered. The company intends to purchase up to $7 billion in securities; however, the total tendered may exceed this amount. The Tender Offer's Expiration Date is set for December 7, 2022. This offer allows GE to manage its debt obligations more effectively.

General Electric (GE) announced the successful closure of its offering of $1 billion 5.550% senior notes due 2024 and additional senior notes totaling $5.5 billion. These offerings are part of the financing for the planned spin-off of GE HealthCare, expected to finalize in early January 2023. The proceeds will go towards settling debt obligations linked to the spin-off. GE will be released from its guarantees upon completion of the transaction. GE HealthCare will become a standalone corporation, named GE HealthCare Technologies Inc..

GE Healthcare has launched an intelligent workload management solution for PACS, aimed at streamlining radiology workflows. This solution can boost interpretation production by up to 21% and significantly reduce scan time by 50%, enhancing patient care and clinician productivity. Key metrics show a 16.7% improvement in STAT turnaround time and a 20.5% enhancement in emergency departmental turnaround time. With radiologist shortages projected by 42,000 in the U.S. by 2033, these innovations are crucial to mitigate burnout and improve healthcare delivery.

GE Healthcare has announced an $80 million investment to expand its Active Pharmaceutical Ingredients facility in Lindesnes, Norway, by 30%. This initiative is aimed at producing an additional 30 million doses of iodinated contrast media annually by 2025, responding to expected global demand doubling over the next decade. The expansion is set to create around 100 new jobs and follows the recent opening of a new production line in Cork, Ireland. This investment reinforces GE Healthcare's leadership in the contrast media market.

General Electric (GE) announced the pricing of $8.25 billion in senior notes to fund the spin-off of GE HealthCare, expected to finalize in early January 2023. This includes various notes with due dates ranging from 2024 to 2052, featuring interest rates between 5.550% and 6.377%. The notes will be guaranteed by GE until the spin-off is completed. GE HealthCare aims to secure a strong investment-grade credit rating post-spin-off and will become GE HealthCare Technologies Inc.. The offering is aimed at institutional buyers under specific regulations.

Hyliion Holdings Corp. (NYSE: HYLN) reported its Q3 2022 financial results, generating $0.5 million in revenue and maintaining a cash position of over $455 million. The company closed the acquisition of the KARNO generator from GE Additive, enhancing its hydrogen-fuel capabilities. Hyliion announced its Founders Program for the first 200 Hypertruck ERX units and confirmed the trucks qualify for a 30% tax credit under the Inflation Reduction Act. The updated revenue guidance for 2022 is approximately $2 million, with operating expenses projected at $130 million.

GE (NYSE: GE) has announced a tender offer to purchase up to $7 billion in outstanding securities, part of its strategy to reduce debt as it moves towards creating three standalone companies, including GE HealthCare. The tender offer is set to expire on December 7, 2022, with an early participation date on November 22, 2022. Holders of the securities can receive total consideration that includes accrued interest. GE intends to use proceeds from new debt securities for debt repayment, supporting its leverage reduction efforts.

GE Healthcare’s DaTscan has received FDA approval for the diagnosis of Dementia with Lewy Bodies (DLB), expanding its established use in evaluating Parkinsonian syndromes. This marks a significant advancement, as DLB is often misdiagnosed, with up to 70% of cases mistaken for Alzheimer’s Disease. The expanded use of DaTscan aims to enhance diagnostic accuracy for one in five dementia patients suffering from DLB, potentially leading to better treatment paths. Over one million DaTscan doses have been administered globally, underscoring its market leadership in radiopharmaceutical diagnostics.

GE’s Grid Solutions and Power Conversion businesses have been contracted by Baker Hughes to provide high-voltage equipment and an energy management system for Venture Global’s Plaquemines LNG export facility in Louisiana. This project aims to enhance the efficiency and reliability of the liquefaction process, following a prior collaboration on the Calcasieu Pass project. GE will supply critical components including 145 kV gas-insulated switchgear, integrated protection systems, and high-voltage transformers, bolstering the company’s role in the energy transition.