GE Aerospace Confident GE9X Fix Won't Delay Boeing 777X Entry
GE sits 17% above its 52-week low of $268.91.
Summary
GE Aerospace disclosed a durability issue with the GE9X engine's mid-seal but says a redesigned part is already shipping to Boeing and will not delay the 777X's planned entry into service next year. The CFO expressed high confidence in the fix, with FAA certification expected in the coming months. This removes a potential overhang on the 777X program and GE's engine delivery schedule. The news follows GE's $11.75B acquisition of Consolidated Precision Products, which aims to strengthen its supply chain for cast parts.
At the time of this announcement, GE was trading at $313.70 on NYSE in the Manufacturing sector, with a market capitalization of approximately $325.2B. The 52-week trading range was $268.91 to $388.84. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.