Investing.com – GE stock (NYSE:) rose 1.4% in Tuesday’s premarket as the company raised its EPS forecast for the current year after managing to grow its margins in a challenging quarter.

Company’s profit projection for year increased to $1.95, at the midpoint in the guidance range that was $1.60 before.

GE predicts increased revenue and margin expansion in 2022. It has however reduced its free cash flow forecast for the ongoing quarter.

In spite of supply shortages and rising costs for raw materials, the company was able to increase its third-quarter adjusted industrial profit margin to 7.5%. One basis point equals one-hundredths of a percentage.

New orders and faster execution in the aviation business rescued the company’s performance in the September quarter. But for the 10% growth in the aviation business, the 1% fall in the company’s revenue would have been steeper.

The quarter saw orders of $22.1 billion, which is 22% greater than the previous quarter. The orders were received from all four major segments, with renewables and aviation accounting for more than 60%. Power was second, with orders increasing by 8% over the previous year. Healthcare came in third.

Due to uncertainty about President Joe Biden’s infrastructure bill, the company has warned of disruptions in supply chains and pressure onshore wind markets.

Total revenue was $18.43 billion and fell short of analysts’ expectations. The adjusted profit per share was 57cs, which is higher than the estimates.