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Friday, Oct 18
More on GE Q3: Operating earnings slip 3%.
- Excluding restructuring and other charges, GE (GE) operating EPS $0.40.
- Operating earnings -3% to $3.7B.
- Net profit -9% to $3.2B as sales slip 1% to $35.7B, hurt by falling revenues at GE Capital due to planned asset reductions and and a negative forex impact of $132M.
- Total orders +19% to $25.7B; U.S. orders +18%, Europe +17%, growth market +22%.
- Industrial segment profit +11%, with strong growth in six of seven businesses
- GEs backlog of equipment and services at the end of Q3 was a record $229B, up $6B from Q2.
- GE Capital earnings +13%, with ending net investment (ENI) at $385B; Tier 1 common ratio under Basel 1 at 11.3%, +116 bps
- Notes "improving global business environment."
- $13.9B returned to shareholders YTD.
- Overall framework for 2013 remains unchanged.
- Shares +0.9%. (PR) (Previous)