- General Electric (GE -0.1%) repeats FY17 operating EPS view of $1.60-$1.70. Organic growth of 3%-5%.
- Margin expansion of ~100bps. Expects cash returned to investors of $19B-$21B.
- Says "now is the time" for U.S. tax reform. Strong focus on cost reductions in 2017, 2018.
- Baker Hughes (BHI -0.7%) deal synergies could exceed $1.6B target, while BHI stockholder vote expected end of Q2 2017.
- Alstom integration "well on track" and will continue to be a catalyst for earnings growth. Water unit sale process also "on track."
- See presentation here