Reporting GE’s second-quarter results, Chairman and CEO of GE and CEO of GE Aerospace Larry Culp said, “The GE team delivered a strong quarter, with growth in orders, revenue, and profit, as well as positive free cash flow. Aerospace was a key driver, and services remained a bright spot of performance. While this remains the toughest operating environment I’ve seen, I am proud of how the GE team is taking action to manage continued pressures.”
Culp noted that orders grew 4% organically year over year, driven by the 26% orders growth in GE’s Aerospace business.
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GE released its second quarter results today, and I encourage you to read the full materials and listen to our earnings call at 8:00 AM ET.
Key highlights on GE’s financial performance for 2Q’22:
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Today is an exciting day for GE as we announced the new brand names for our three planned future companies: GE HealthCare, GE Vernova, and GE Aerospace.
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The difference is, or should be, palpable. The good, the bad, and sometimes the ugly. For teams who truly practice lean and believe in it, those latter two descriptors are nothing but opportunity.
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Thank you for joining our first-quarter earnings call this week. My team and I have spent the week conducting our usual follow-up calls with investors, answering questions and gathering insights. As we’ve all seen, the market reaction has been rough. That feedback is extremely important to us.
Considering the near-term challenges we described in the broader economic environment, many of you have come to us with some form of the same two questions.
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Today is an exciting day for GE as we host our 2022 Investor Day in Greenville, South Carolina starting at 7:30 AM ET. You can access a live webcast of the presentations, as well as accompanying slides and press release, on our investor website here.