General Electric Co. exceeded Wall Street expectations for profit and sales in the final months of the year as the jet engine maker worked through supply-chain limitations and capitalized on a strong maintenance backlog.

GE Aerospace on Thursday forecast a stronger profit for the year after its fourth-quarter earnings exceeded Wall Street estimates as strong travel demand amid persistent shortages of new aircraft bolstered sales of its high-margin parts and services.

Shares of GE Aerospace (GE) surged in premarket trading Thursday after the company reported fourth-quarter results far above analysts' estimates. The manufacturer of airplane engines and other parts reported net income of $1.