GE sees aviation revenue boost from jet engines; shares hit highest since 2018

General Electric Co forecast revenue at its cash-cow aviation business to grow by at least low-double digits through 2025, sending its shares to levels not seen since 2018 on Thursday.<br/>The shares rose 6.5% after CE Larry Culp said at the company’s annual day for investors that a recession was “the last thing on our mind.” The Boston-based conglomerate’s shares have benefited from strong aerospace demand and the recent spinoff of its healthcare business, even as its renewable energy unit has struggled. GE stuck to its profit expectations for 2023 despite the dim economic outlook and persistent supply shortages. It expects adjusted earnings per share of $1.60 to $2.00, with revenue growth in the high single digits. “We’re well positioned to have a strong year,” Culp said. Through 2025, GE expects profit margins at GE Aerospace to be about 20%, company executives told investors at a conference in Ohio. A jump in air travel has driven up sales at its aerospace division, which makes and services engines for Boeing and Airbus jets.<br/>