General Electric Misses
General Electric (GE) reported 4th Quarter December 2017 earnings of $0.27 per share on revenue of $31.4 billion. The consensus earnings estimate was $0.28 per share on revenue of $32.7 billion. The Earnings Whisper number was $0.28 per share. Revenue fell 5.1% compared to the same quarter a year ago.
The company said in its earnings presentation it expects 2018 earnings of $1.00 to $1.07 per share. The current consensus earnings estimate is $1.00 per share for the year ending December 31, 2018.
General Electric Co is a diversified company with products & services that range from aircraft engines, power generation, oil & gas production equipment, & household appliances to medical imaging, business & consumer financing and industrial products.
GE ANNOUNCES FOURTH QUARTER 2017 RESULTS
BOSTON - January 24, 2018 - GE (NYSE:GE) announced results today for the fourth quarter of 2017.
GE Chairman and CEO John Flannery said, “In the fourth quarter, EPS was at the low-end of guidance, excluding insurance-related items,
U.S. tax reform, and industrial portfolio actions. Cash performance was above expectations and our visibility and execution on cash is
improving. Aviation and Healthcare had strong performances in the quarter. Power was down significantly and we expect market challenges
to continue. Our results this quarter demonstrate some of the early progress we are seeing from our key initiatives. The team is focused
on operational execution, capital allocation and deep cost reduction to position us for continued improvement in 2018.”
- • 4Q’17 continuing operations EPS (GAAP) of $(1.15); full-year of $(0.68)
- • 4Q’17 Industrial operating + Verticals EPS (non-GAAP) of $(1.23); full-year of $(0.45)
- • Industrial + Verticals at low end of guidance excluding $(1.49) of charges for insurance-related items
$(0.91), the Tax Cuts and Jobs Act (“U.S. tax reform”) $(0.40), and industrial portfolio items $(0.18)
- • 4Q’17 GE CFOA of $7.0 billion; adjusted Industrial CFOA-a) (non-GAAP) of $7.8 billion; full-year adjusted
Industrial CFOA of $9.7 billion
- • Power continues to be challenging, Power segment profit down 88%
- • Strong performance in Aviation and Healthcare
- • $1.7 billion of structural cost-b) (non-GAAP) out in 2017
For the full press release, please go here