GE Aerospace has officially launched as a standalone, investment-grade public company, completing the final stage of General Electric’s multi-year transformation.
The milestone follows the successful spin-off of GE Vernova, GE’s energy business.
As of April 2, 2024, GE Aerospace began trading on the New York Stock Exchange under the ticker symbol “GE”.
The occasion was marked by executives from both GE Aerospace and GE Vernova ringing the opening bell together at the NYSE.
H. Lawrence Culp Jr., chairman and CEO of GE Aerospace, described the event as a historic conclusion to GE’s strategic restructuring.
“With the successful launch of three independent, public companies now complete, today marks a historic final step in the multi-year transformation of GE,” said Culp Jr.
“I am tremendously proud of our team, their resilience, and their dedication to achieving this defining moment.”
GE Aerospace enters the public market with a strong operational base. The company supports approximately 44,000 commercial aircraft engines and 26,000 military and defense engines globally.
In 2023, it reported around $32 billion in adjusted revenue, with about 70 percent coming from services and the aftermarket.
Looking forward, GE Aerospace has reaffirmed its financial targets, including its 2024 outlook and a projected operating profit of approximately $10 billion by 2028.
The company also plans to invest in growth and innovation, while returning 70–75 percent of available capital to shareholders.
The spin-off of GE Vernova was executed in a tax-efficient structure for US shareholders, who received one share of GE Vernova for every four shares of GE held.
With this final step, GE’s transformation into three focused, independent companies – GE Aerospace, GE Vernova, and GE HealthCare – is complete.
Each company now begins a new chapter, focused on leadership and innovation in their respective industries.
GE Aerospace will report its first-quarter 2024 earnings on April 23, 2024.
