GE and Howmet Poised for Strong Earnings as Aerospace Sector Stays Resilient: Analyst
GE and Howmet Poised for Strong Earnings as Aerospace Sector Stays Resilient: Analyst
Deuschle expects a 9% EPS beat in their base case and a 15% beat in the blue sky scenario for the third quarter.Deutsche Bank analyst Scott Deuschle changed price targets and presented earnings previews for major Aerospace companies such as GE Aerospace (NYSE:GE) and Howmet Aerospace Inc. (NYSE:HWM).
德意志銀行分析師斯科特·德奇勒（Scott Deuschle）調整了價格目標，併爲通用電氣航空（NYSE：GE）和豪玠航空公司（NYSE：HWM）等主要航空航天公司提供了盈利預覽。
The analyst writes that these stocks are well-insulated against end-market challenges and are likely to achieve the largest earnings beats and drive significant upward revisions.
分析師表示，這些股票對最終市場挑戰具有很好的保護，並可能實現最大的盈利超預期，並推動重大的上調。
GE Aerospace: The analyst raised the price target to $235 from $212 while maintaining a Buy rating.
通用電氣航空：分析師將價格目標從212美元上調至235美元，同時維持買入評級。
Deuschle expects a 9% EPS beat in their base case and a 15% beat in the blue sky scenario for the third quarter.
德奇勒預計他們的基本情況下每股收益將超出9％，而在藍天情形下將超出15％。
In both cases, the analyst anticipates an increase in 2024 guidance, with a potential 7% EBIT rise if the blue sky scenario occurs.
在這兩種情形下，分析師預計2024年會出現指引增長，如果藍天情形發生，潛在的EBIt增長率將達到7％。
Strong CSA collections from the summer flying season could drive free cash flow (FCF) above expectations, leading to an increase in FCF guidance, adds the analyst.
來自夏季飛行季的強勁CSA收入可能會推動自由現金流（FCF）超出預期，從而提高FCF指引，分析師補充道。
Overall, Deuschle says that they are optimistic ahead of the earnings release due to the potential for a significant beat and raise this quarter.
總體而言，德奇勒表示他們對即將發佈的業績持樂觀態度，因爲本季度可能會出現重大利潤超預期，並上調。
Read: GE Aerospace Takes Flight With AI Wingmate: Boosts Innovation, Employee Productivity With Microsoft's Azure AI
閱讀：通用電氣航空與人工智能合作伙伴起飛：通過微軟的Azure AI推動創新，提高員工生產力
Howmet: The analyst raised the price target to $125 from $106 while maintaining a Buy rating.
Howmet：分析師將價格目標從106美元上調至125美元，同時維持買入評級。
The analyst writes that the base case estimates third-quarter EPS at $0.68, above the Street's $0.66, with a roughly 2% midpoint guidance increase.
分析師指出，基準情況下，第三季度每股收益爲0.68美元，高於街道預期的0.66美元，中點指引增加約2%。
The analyst cited upside drivers such as pricing strategies, strong execution allowing shipments above long-term agreement caps, and earlier-than-expected generation 2 LEAP HPT blade shipments.
分析師提到正向因素，如定價策略、強勁執行使得發貨超過長期協議上限，以及提早交付第2代LEAP HPt葉片。
Deuschle expects HWM to guide 2025 revenue in line with the Street (+10%), which could trigger further positive revisions, given a higher 2024 base and likely surprises in Engine Products EBITDA margins.
Deuschle預計HWm將指引2025年營業收入與街道一致（+10%），這可能會引發進一步的積極修訂，考慮到2024年基數較高，以及引擎產品EBITDA利潤率可能出現意外驚喜。
For Boeing Company (NYSE:BA), the analyst lowered the price target to $195 from $225 while maintaining a Buy rating.
對於波音公司（紐交所：BA），分析師將價格目標從225美元下調至195美元，同時維持買入評級。
The analyst anticipates a third-quarter free cash flow burn of ($4.0 billion), up from a previous estimate of ($2.4 billion), due to the strike's impact on September deliveries and ongoing cash pressures in Boeing's Defense segment.
分析師預計第三季度自由現金流將達到（40億美元），高於先前的預估（24億美元），這是因爲罷工對9月交付的影響以及波音軍工領域持續的現金壓力。
The forecast includes a $1 billion EBIT loss at Boeing Defense Systems (BDS) and a $1.6 billion loss at Boeing Commercial Airplanes (BCA), adds the analyst.
預測包括波音國防系統（BDS）10億美元的EBIT損失以及波音商用飛機（BCA）16億美元的虧損。
Deuschle says that BCA loss forecast assumes a $1 billion forward loss on the 777X, reflecting delays in entry into service and increased costs related to union negotiations and wage hikes.
Deuschle表示，BCA的虧損預測假設777X將會出現10億美元的未來虧損，反映了入役延遲以及與工會談判和工資漲幅相關的成本增加。
Also Read: Boeing Workers' Union Says Decision To Cut Health Care For 33,000 Is 'Unnecessary And Cruel'
波音工會說，裁減3.3萬人的醫療保健是「不必要和殘忍」的決定
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圖片來自shutterstock。
