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GENERAL ELECTRIC UP ON EXPECTATIONS

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GENERAL ELECTRIC UP ON EXPECTATIONS

Jan 23 2015, 1.05pm GMT

STOCK.com

Share price rises 0.9% on better than expected 3Q results from GE in pre-market announcement.

Forecast: Earnings of 55 cents a share up from 53 cents a share in the same period last year [Thomson Reuters]. Revenue of $42.12 billion, up from $40.38 billion [Wall Street analysts]

Actual: Third-quarter operating earnings were $3.8 billion, up 3% from third-quarter 2013, and operating EPS was $0.38, up 6%. GAAP earnings from continuing operations (attributable to GE) were $3.5 billion, up 6%, or $0.34 per share, up 6% from the third quarter of 2013.

Including the effects of discontinued operations, third-quarter net earnings attributable to GE were $3.5 billion ($0.35 per share) compared with $3.2 billion ($0.31 per share) in the third quarter of 2013.

Third-quarter revenues increased 1% to $36.2 billion. Industrial sales of $26.0 billion increased 3% compared to the third quarter of 2013. GECC revenues of $10.5 billion decreased 1% from last year.

3Q Highlights

  • 3Q operating EPS $0.38, +6%
  • 3Q Industrial segment profit +9%, YTD +10%
  • 3Q Industrial segment organic revenues +4%, YTD +5%
  • 3Q margins +90 bps, YTD +50 bps
  • 3Q orders +22%, Growth market orders +34%, U.S. orders +25%
  • Cash generation of $7.2 billion year-to-date, $3.8 billion generated in 3Q
  • GE Capital ENI (excluding cash and equivalents) at $365 billion, down 5% vs. year-ago

Major increases were made in the industrial segment including aviation, oil and gas, power generation and advanced manufacturing as the multilayered corporation start to transform their portfolio by selling off media, appliances and consumer finance.

MT4 chart: GE

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