With strength in GE Gas Power services and growth at Grid business and Onshore Wind in North America, signs of improvement in GE Vernova (the combined operations of GE Power and Renewable) hold promise. Due to these tailwinds, the company has raised its 2023 guidance. Amid these positives, shares of General Electric have outperformed its industry in the past six months.
However, supply chain disruptions in the defense market continue to take a toll on the company’s operations. Inflationary pressure poses a threat to General Electric’s bottom line. Foreign currency challenges and lower aeroderivative shipments are other concerns for GE.
Not looking good sounds like layoffs to me