- GE (NYSE:GE) reports increased Q2 operating earnings of $3.9B, translating to an operating EPS of $0.39, up 8% Y/Y. GAAP earnings from continuing operations were $3.6B, with an EPS of $0.35, up 13% Y/Y. Including the effects of discontinued operations, Q2 net earnings were $3.5B vs. $3.1B Y/Y.
- Revenues rose 3% Y/Y to $36.2B. Growth market revenues grew 6% Q/Q, and growth market orders rose 14% Q/Q - increasing in six of nine growth regions. Services revenues were up 5% Q/Q, and services orders rose 14% Q/Q.
- Industrial sales of $26.2B climbed 7% Y/Y. GECC revenues decreased 6% to $10.2B Y/Y. Industrial segment profits increased 9% Q/Q to $4.2B.
- Industrial segment revenues were up 7%, with organic growth of 5%. Cash generated from operating activities year-to-date totaled $3.4B and cash generated from industrial operating activities posted $2B.
- GE is expecting its deal with Alstom (OTCPK:ALSMY) to close in 2015. The company expects the acquisition be accretive to earnings in 2015 and add $0.06 to $0.09 per share in 2016, helping GE's portfolio strategy achieve 75% of earnings from its industrial business by 2016.
- GE +1.1% premarket. Q2 results.