Why Shares in General Electric Crushed the Market in March
Shares of General Electric (NYSE: GE) rose 12.9% in March, according to data provided by S&P Global Market Intelligence. The primary catalyst for the move was the industrial company's well-received investor conference on March 9.
In a nutshell, management had good things to say about all three segments. However, as a reminder, GE Power and GE Renewable Energy are being combined and will be spun off as GE Vernova in early 2024, leaving GE Aerospace as the remaining business.
Management's update was significant. At GE Aerospace, investors were concerned about margin performance because of the massive ramp up in loss-making LEAP engines (the real money is made in the aftermarket). Still, management guided toward improving profit margin from 18.3% in 2022 to 20% in 2025.
Source Fool.com
