Rolls-Royce (OTCMKTS:RYCEY) shares rose by 23% on Thursday after the aviation manufacturer reported a 57% YoY increase in underlying profit for 2022, driven by strong performance in its civil aerospace and power systems units.
The company attributed the results to recovering demand for international travel, with a 35% YoY increase in large engine flying hours for civil aerospace. Rolls-Royce said it will make no shareholder payments for the 2022 financial year, but pledged to return to an investment grade credit rating and resume the practice. The company is undergoing a transformation program to improve its performance in 2023.
Other companies in Rolls-Royce (OTCMKTS:RYCEY) sector include General Motors (GM), XPeng (NYSE:XPEV), Fisker (NYSE:FSR), Ford Motor (NYSE:F), NWTN (NASDAQ:NWTN) and Polestar Automotive (NASDAQ:PSNYW).
The stock price for Rolls-Royce Hldgs (OTCPK: RYCEY) is $1.55 last updated Today at February 23, 2023 at 10:33 AM CST. Rolls-Royce Hldgs is in the Industrials sector and Aerospace & Defense industry. They are listed on the OTCPK.