GE Aerospace announced on Thursday that it has raised its 2025 targets after reporting "excellent" second-quarter results, marked by revenue and orders up more than 20%.

The aerospace equipment manufacturer reported orders worth $11.7bn, up 28%, with revenue up 23% to $10.2bn.

Its adjusted EPS rose 38% to $1.66, above consensus of $1.40.

For 2025, the Cincinnati, Ohio-based group now expects adjusted EPS of $5.60 to $5.80, up from $5.10 to $5.45 previously, based on expected revenue growth of approximately 15%, up from 10% to 14% previously.

GE Aerospace also said it had raised its free cash flow target to around $8.5bn by 2028, $1.5bn more than the $7bn estimate announced in 2024.

The company also plans to increase its shareholder distributions by 20% over the 2024-2026 period to $24bn, including $19bn in share buybacks.

The stock was up 1.2% in pre-market trading following the announcement.