General Electric Misses
General Electric (GE) reported 3rd Quarter September 2017 earnings of $0.29 per share on revenue of $33.5 billion. The consensus earnings estimate was $0.49 per share on revenue of $31.9 billion. The Earnings Whisper number was $0.52 per share. Revenue grew 14.4% on a year-over-year basis.
The company said in its supplemental earnings report it now expects 2017 earnings of $1.05 to $1.10 per share. The company's previous guidance was and the current consensus earnings estimate is $1.53 per share for the year ending December 31, 2017.
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 3Q 2017 EARNING
Continuing operations EPS (GAAP) of $0.22, (4)%
Industrial operating + Verticals EPS (non-GAAP) of $0.29, (9)%
EPS impact of $(0.16) resulting from impairments of $(0.13); higher restructuring and lower gains of $(0.03)
3Q’17 GE CFOA of $0.5 billion; $1.7 billion Industrial CFOA*-a)
Industrial segment revenues +10%, (1)% organically*
Orders +11%; organic orders flat
“This was a very challenging quarter. While a majority of our businesses had solid earnings performance, this was offset by a
decline in Power performance in a difficult market. Our Industrial CFOA*-a) for the quarter was down principally because of lower
Power volume, resulting in lower earnings and higher inventory. We believe that the new leadership team at Power and the cost
actions that we are taking will better position the Company in 2018 and beyond.”
— John Flannery, Chairman and CEO
For the full press release, please go here