General Electric Stock Is Rising: What's Driving The Action?

General Electric Co (NYSE: GE) shares are trading higher Thursday after the company updated guidance at its annual investor conference.

What Happened: GE is holding its annual investor conference at its Customer Technical Education Center and chairman and CEO Larry Culp is moving the stock with commentary from his keynote presentation.

The company reaffirmed its 2023 expectations for high single-digit adjusted organic revenue growth and adjusted earnings of $1.60 to $2 per share. Culp told investors that the company expects to have high growth in 2023 and noted that an economic recession is the last thing on his mind.

Although the company has faced headwinds in terms of jet engine deliveries, it said it's making progress on supply-chain challenges.

GE also announced that it sees 2025 GE Aerospace revenue growth in a range of low double-digits to the mid-teens. 

See Also: GE Cuts Down Its Stake In Aircraft Lessor AerCap

GE Price Action: GE has a 52-week high of $96.23 and a 52-week low of $59.93.

The stock was up 2.9% at $89.50 at the time of publication, according to Benzinga Pro.

Photo: courtesy of GE.