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In its last earnings release, General Electric Company (NYSE:GE) increased revenue in nearly every segment, with earnings either increasing or decreasing marginally. General Electric has recently showcased progressive and innovative IT services and industrial products for European transportation, U.S. utilities and smart grids, aviation and defense, Durathon batteries for telecoms worldwide, clean water ingenuity, healthcare, and international E&Ps to name a few. The company has a hand in just about everything and has several promising ventures that can drive innovation and economic growth for years to come.

General Electric's latest earnings release shows second quarter revenue totaled $36.5 billion, increasing 2%, YOY. Total expenses increased to $32.3 billion from $31 billion, YOY. Industrial sales totaled $25.1 billion, increasing 9%, YOY. Sales of product services totaled $10.8 billion, increasing 2%, YOY. GE's financial services revenue totaled $11.5 billion, decreasing 8%, YOY.

Second quarter earnings totaled $3.65 billion, increasing 2%, YOY. Cash and equivalents of continuing operations in the first half decreased to $74.2 billion from $91.05 billion, YOY. GE's long-term borrowings decreased to $229.8 billion from $243.4 billion, YOY. In the first half 2012, GE's total financing receivables decreased to $273.9 billion from $288.8 billion, YOY.

General Electric's Energy Infrastructure revenue totaled $11.9 billion, increasing 15%, YOY. Profits totaled $1.8 billion, increasing 13%, YOY. The Energy division revenue totaled $8.55 billion while Oil & Gas revenue totaled $3.65 billion. Higher volume in Energy Infrastructure revenue and profits increased from higher volumes and were partially offset by effects of the dollar and decreased productivity.

Aviation revenue totaled $4.9 billion, increasing 3%, YOY due to increased prices and equipment sales, primarily from higher commercial engine shipments. Aviation profit totaled $900 million, decreased 4%, YOY mainly due to lower service revenues. GE Capital revenue decreased 8% however net earnings increased 31%, YOY to $2.1 billion.

General Electric's healthcare revenues were relatively flat at $4.5 billion, YOY. Increased volume and growth in the U.S. and emerging markets was offset by the effects of the dollar and declines in Europe. Healthcare profits decreased 2%, YOY to $700 million. GE's Transportation revenues totaled $1.6 billion, increasing 27%, YOY; profits totaled $300 million, increasing 58%, YOY. This was mainly due to increased volumes, higher equipment sales and growth in locomotive sales and the global mining business.

GE's Home & Business Solutions revenues totaled $2.2 billion, increasing 2%, YOY, mainly due to increased prices. Profits totaled $100 million, decreasing 14%, YOY from decreased productivity and increased R&D investments. GE's stock price has increased 11.3% since its last earnings release.

General Electric was recently awarded the largest series compensation project in the U.S. GE will work with Electric Transmission Texas, a joint venture LLC between American Electric Power (NYSE:AEP) and MidAmerican Energy Holdings. GE will install eight series compensation banks at four facilities owned by the regulated transmission-only utility formed by American Electric Power and MidAmerican Energy Holdings Company in Texas.

The above project will create hundreds of engineering, construction, project management and manufacturing jobs. GE will head project management, installation, long-term maintenance and training as part of the $7 billion competitive renewable energy zone initiative in Texas focused on creating transmission lines for wind power in western Texas. Materials will be shipped in the first half of 2013, installation and testing in the second half and startup operations are projected for early November 2013.

General Electric also recently unveiled its PowerOn Precision platform in the September. This interface helps utilities and consumer maximize energy efficiency in order to lower costs. This demand response management system enables GE utilities to monitor, manage and support peak demand loads for grid stability and optimal operations. The technology consists of continuous algorithms that enable consumers to benefit from pricing incentives, while controlling direct load. This platform has economic implications by providing a more efficient use of energy for utilities, industrial, residential and commercial consumers while providing more stability and reliability from outages. This technology is being adopted in the U.S., Europe and around the world.

General Electric was also recently awarded the world's largest subsea wellhead contract through its long-standing working partnership with Brazilian energy firm, Petrobras (NYSE:PBR). The contract is worth $1.1 billion and involves delivering and installing 380 subsea wellheads for oil exploration in Brazil.

Previously, the world's largest wellhead contract was also between Petrobras and GE for $250 million in 2009. Over 1,200 GE wellhead systems have been produced and installed in Brazil throughout the last 30 years. GE is focused on growing with Brazil. GE invested $32 million in June 2012 to triple the size of its Macae plant and increase its workforce 150%, making it the most modern subsea provider on the planet.

General Electric recently announced plans to build a research facility in Berlin, located close to one of its chief competitors, Siemens (SI). Siemens will feel the pressure as GE expects growth to be over 10% in Germany for 2012. GE will invest $104 million to build a facility. GE's hired 500 workers here since 2011 and currently has 7,000 in Germany already. GE also unveiled new locomotive technologies at InnoTrans, including its PowerHaul Series Locomotive for Europe, Asia and Australia as well as Temp Train Control and several solutions to optimize rail operations, expenses, and energy efficiency.

General Electric recently announced $63 million in new orders from at least 10 telecoms for Durathon batteries since its launch in July 2012. Durathon batteries last 10 times longer, while reducing fuel consumption for major telecom towers by 40%. GE projects 1,000 hybrid installations by mid-2013 and five times as many before 2014. GE is also working with NASA to bring air traffic management to centralized cloud infrastructures and it has recently unveiled high performance IT platforms for deployment by the defense sector.

General Electric also recently invested $32 million in the University of Wisconsin to further build on the long-standing partnership and drive advancements in imaging and radiology. GE and UW have filed over 80 U.S. file patents in the past 11 years and currently focused noninvasive procedures for early detection of cancer and diseases. GE recently volunteered to help WaterStep reduce costs by 75% by implementing leaner operations and enabled it to double the annual supply to 23 countries in first year production.

Due to its expansive portfolio and stable financials, GE is a defensive asset capable of capital appreciation for the long term.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Source: Buy General Electric Now For Robust Gains In 2013