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GE's Q4 disappoints but Immelt "pretty secure" about 2017 growth target

Jan. 20, 2017 6:35 PM ETGeneral Electric Company (GE) StockGEBy: Carl Surran, SA News Editor57 Comments
  • GE tumbled 2.2% in today's trade as Q4 revenue fell 2.4% Y/Y, with organic revenue in industrial businesses sliding 1% and coming in below the company's 0%-2% growth forecast and after having to reduce revenue forecasts throughout the year.
  • Analysts question whether the Q4 results could mean GE will miss the 2017 target of 3%-5% growth that the company reaffirmed today, but with Alstom revenue included - as it will be in future quarters - hitting the revenue target "doesn't look like a stretch," says RBC analyst Deane Dray.
  • Noting GE's overall organic revenue rose 4% in the quarter, CEO Jeffrey Immelt said in today's earnings conference call that felt "pretty secure" about the 2017 target.
  • Q4 revenue in GE's oil and gas business sank 22%, but the decline was expected amid weak market conditions.
  • GE’s Q4 industrial operating cash flow of $8.2B made it the "biggest cash quarter in our history,” Immelt said.
  • Bloomberg's Brooke Sutherland writes hopefully that GE stands to benefit from tax reform and plans for infrastructure stimulus, and the stock's gains have not kept pace with the broader post-election rally, indicating some skepticism may have been baked in and leaving some room to rise.

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