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First GE profit miss in 2.5 years

Oct. 20, 2017 7:26 AM ETGeneral Electric Company (GE) StockGEBy: Yoel Minkoff, SA News Editor122 Comments
  • Q3 non-GAAP EPS (what GE calls its "Industrial operating + Verticals EPS") of $0.29, down 9% from the $0.32 reported in the same quarter a year ago.
  • Backlog of $328B, +3% Y/Y; Orders up 11%, with industrial segment organic revenues down 1%.
  • New CEO John Flannery is targeting $20B+ of business exits in one to two years.
  • Paid $4B in dividends to YTD... deferring decisions on additional dividends until an Insurance reserve review is completed.
  • Adjusted earnings this year are expected to be $1.05-$1.10 per share, down from a previous range of $1.60-$1.70 a share.
  • GE -4.6% premarket
  • Q3 results

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