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General Electric Company (NYSE: GE ) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 as the engineering company’s profit increased by 7%.
The Boston-based industrial conglomerate posted adjusted earnings of $1.24 per share for the December quarter, which was up 51% from the $0.82 per share reported a year earlier. On an unadjusted basis, net profit was $1.93 per share, compared with a loss of $3.55 per share in the fourth quarter of 2021. Total profit came in at $21.78 billion for the three-month period, which was up 7% year-over-year. the past .
Check out this space for management/analyst commentary on General Electric’s Q4 2022 earnings
“Going forward, GE is positioned to drive growth, profitability, and cash flow, and our outlook reflects our confidence in our business. At GE Aerospace, we’re doing it on an unprecedented ramp, and our best-in-class technology is delivering flights that more efficient and sustainable. At GE Vernova, Power delivers stable Gas Power, and Renewable Energy takes action to lead operational improvements as it also begins to benefit from external catalysts like the Inflation Reduction Act,” said Lawrence Culp, executive director of GE.
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