General Electric: Quarterly figures better than expected, share +7%

General Electric flies a little under the radar because the stock is no longer included in the Dow 30. Nevertheless, GE remains a major industrial group. The company has just published its quarterly results. Here are the key figures.

Sales amounted to 23.36 billion Dollars (previous year’s quarter 23.39/expected 22.9).

Non GAAP net income was $0.15 compared to $0.14/expected 0.11 in the year-ago quarter.

The share is listed pre-market at +7%.

GE headline statement:

GE Chairman and CEO H. Lawrence Culp, Jr. said, “Our results reflect another quarter of progress in the transformation of GE. We are encouraged by our strong backlog, organic growth, margin expansion, and positive cash trajectory amidst global macro uncertainty. We are raising our Industrial free cash flow outlook again even with external headwinds from the 737 MAX and tariffs, and we are holding our adjusted EPS outlook despite reduced income from moving Baker Hughes to discontinued operations.”

Culp continued, “This quarter, during strategy reviews with each of our businesses, we identified and prioritized operating improvements and growth investments that will drive sustainable results. We have more work to do, and we will continue to take actions to improve our financial position and strengthen our businesses as we prepare for 2020 and beyond. I remain confident that we will unlock value for GE’s stakeholders as our transformation accelerates.”

GE offices in Schenectady, New York. Photo: UpstateNYer CC BY-SA 3.0

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