GE Aerospace尽管面临关税挑战，但仍击败了第一季度的收益期望

GE Aerospace周二发布了令人印象深刻的第一季度收益，击败了华尔街的期望，并保持了全年前景，尽管新关税可能挑战。飞机发动机制造商在充满挑战的经济环境中表现出韧性。

GE Aerospace beat earnings expectations for the first quarter and kept its full-year outlook despite disclosing that new tariffs could reduce earnings by 20 to 40 cents per share.

GE Aerospace在第一季度击败了收益期望，并保持了全年前景，尽管新关税可以将收入降低20至40美分。

The aircraft engine maker also reported strong operating profit and increased its sales outlook, showcasing resilience in a challenging economic environment.

飞机发动机制造商还报告了大量的营业利润并提高了其销售前景，并在充满挑战的经济环境中展示了韧性。

Early Tuesday, GE (NYSE:) Aerospace reported earnings per share of $1.49 on revenue of $9 billion to $9.94 billion. This outpaced the projections of $1.26 to $1.27 per share on revenue of $8.99 billion, according to the estimations of analysts polled by Bloomberg. Operating profit reached $2.1 billion, exceeding Wall Street’s prediction of $1.9 billion.

周二早些时候，GE（NYSE :)航空航天报告的每股收益为1.49美元，收入为90亿美元至99.4亿美元。根据彭博社报道的分析师的估计，这超过了每股1.26至1.27美元的预测，收入为89.9亿美元。营业利润达到21亿美元，超过华尔街的预测19亿美元。

This performance marks substantial growth from a year earlier. In Q1 2024, GE’s aerospace segment reported an operating profit of $1.5 billion from sales of $8.1 billion.

这种表现标志着一年前的大幅增长。在2024年第1季度，GE的航空航天部门报告的营业利润为15亿美元，销售额为81亿美元。

Investors responded positively to the news. GE shares rose 1.4% in premarket trading to $180.84, while broader market indices also showed gains.

投资者对新闻做出了积极回应。 GE股价上涨了1.4％，预售交易至180.84美元，而更广泛的市场指数也显示出收益。

The earnings report comes amid concerns about the impact of tariffs on the aerospace industry.

收益报告是出于对关税对航空航天行业的影响的担忧而出现的。

highlighting these worries in its own guidance.

在自己的指导下强调这些担忧。

“The macroeconomic dynamics we are operating in today require us to take a number of strategic actions, such as controlling costs, and leveraging available trade programs in order to mitigate the impact of tariffs and other external factors,” said CEO Larry Culp in a statement.

首席执行官拉里·科尔普（Larry Culp）在一份声明中说：“我们今天正在运行的宏观经济动态要求我们采取许多战略行动，例如控制成本，并利用可用的贸易计划，以减轻关税和其他外部因素的影响。”

The company plans to counter tariff impacts through several measures. These include optimizing operations to reduce costs and maximize efficiency, leveraging existing programs and government initiatives to offset tariff burdens, and implementing pricing actions in response to changing market conditions.

该公司计划通过多种措施来应对关税。这些包括优化运营，以降低成本并最大化效率，利用现有计划和政府计划以抵消关税负担，并对不断变化的市场状况采取定价行动。

Unlike some competitors, GE Aerospace maintained its full-year guidance despite tariff concerns. For instance, 3M (NYSE:) also kept its EPS guidance range unchanged but warned that tariffs could reduce it by 20 to 40 cents.

与某些竞争对手不同，尽管担心了关税，GE Aerospace仍保持了全年指导。例如，3M（纽约证券交易所：）还保持其EPS指导范围不变，但警告说，关税可以将其降低20至40美分。

One specific concern involves Chinese tariffs of 125% on U.S. imports, which began in August after a ruling by China's Ministry of Commerce. These tariffs have reportedly led some Chinese airlines to refuse delivery of Boeing (NYSE:) 737 MAX jets, which are powered by GE engines.

一个具体的问题涉及中国进口商品的125％的中国关税，该关税始于中国商务部裁决后的八月。据报道，这些关税已导致一些中国航空公司拒绝交付波音（纽约证券交易所:) 737 Max Jets，该飞机由GE发动机提供动力。

Despite these challenges, GE Aerospace has raised its sales guidance. The company now expects to grow sales by a low double-digit percentage, up from the 10% increase projected in January.

尽管面临这些挑战，但GE航空航天仍提高了其销售指导。该公司现在预计，比一月份预计的10％增长的销售额将增长较低的两位数百分比。

However, its profit guidance remained steady. The midpoint of its range of operating profit forecasts stays at $8 billion, with EPS around $5.30. In contrast, Wall Street analysts are projecting EPS of $5.42.

但是，其利润指导保持稳定。其营业利润范围预测的中点为80亿美元，每股收益约为5.30美元。相比之下，华尔街分析师预计每股收益为5.42美元。

The company points to its substantial backlog as a reason for confidence. GE Aerospace has a commercial services backlog exceeding $140 billion, providing stability amid economic uncertainties.

该公司将其大量积压作为信心的原因。 GE Aerospace的商业服务积压超过1400亿美元，在经济不确定性的情况下提供了稳定。

In a sign of long-term confidence, the company announced plans to invest nearly $1 billion in its U.S. factories and supply chain this year. This represents roughly double what it spent on these areas in 2024.

为了长期信心，该公司宣布了今年在其美国工厂和供应链上投资近10亿美元的计划。这大约代表了2024年在这些地区花费的一倍。

Tuesday’s report comes just after GE Aerospace completed one year as a standalone company following its separation from GE Vernova. The division, which focuses on renewable energy, coal-fired power plants, and oil and gas, was spun off in April 2024.

周二的报告是在GE Aerospace与GE Vernova分开后成为独立公司一年后完成的。该师于2024年4月旋转着重点介绍可再生能源，燃煤电厂以及石油和天然气。

The stock has shown resilience compared to the broader market. Since the November 5 presidential election, GE Aerospace stock has risen 2%, while the S&P 500 and Dow Jones Industrial Average have declined 11% and 10%, respectively.

与更广泛的市场相比，该股票显示出弹性。自11月5日总统大选以来，GE Aerospace股票上涨了2％，而标准普尔500号和道琼斯工业平均水平分别下降了11％和10％。

suggest optimistic about the company’s prospects. All 10 brokers tracked by Visible Alpha rate the stock a “buy,” with an average price target of $224.90. This potential upside of about 26% from Tuesday’s opening price.

对公司的前景表示乐观。通过可见alpha跟踪的所有10家经纪人对股票的“买入”为“买入”，平均价格目标为224.90美元。从周二的开放价格开始，这种潜在的上升空间约为26％。

The current valuation leaves GE Aerospace shares trading at about 34 times estimated 2025 earnings. This is slightly lower than the approximately 36 times earnings multiple from a year ago.

当前的估值使GE Aerospace股票的交易量约为34倍，估计为2025收益。这比一年前的收益大约36倍。

Options markets suggest the stock may move about 5% following the earnings announcement. In the prior four earnings reports, shares moved about 7%, rising three times and falling once.

期权市场表明，在收益公告之后，股票可能会占5％。在前四项收益报告中，股票的提高了约7％，增长了三次，下降了一次。

The company's ability to maintain guidance while disclosing the potential impact of tariffs showcases management's confidence in their mitigation strategies.

该公司保持指导的能力，同时披露关税的潜在影响，展示了管理层对缓解策略的信心。

As GE navigates current trade tensions and continues its growth trajectory, it will be interesting to see how investors react to the new earnings report and the implications for the company's valuation.

当GE导航当前的贸易紧张局势并继续其增长轨迹时，很有趣的是，投资者对新收入报告的反应以及对公司估值的影响。

Moreover, robust backlog and planned U.S. investment present a compelling case for the aerospace manufacturer’s resilience in challenging market conditions.

此外，强劲的积压和计划的美国投资提出了一个令人信服的案例，用于航空航天制造商在具有挑战性的市场条件下的韧性。