General Electric (GE) Tops Q4 EPS by 2c; Reports Improved Industrial Margins

(Updated - January 22, 2016 6:33 AM EST)

General Electric (NYSE: GE) reported Q4 EPS of $0.52, $0.02 better than the analyst estimate of $0.50. Revenue for the quarter came in at $33.8 billion versus the consensus estimate of $36.02 billion.

Industrial segment margins improved 50 basis points to 19.3 percent.

HIGHLIGHTS

• Industrial segment operating profit -8%, -1% organic for 4Q; +7% organic for 2015
• Industrial segment organic revenues -1% for 4Q, +3% for 2015
• GE CFOA for 2015 $16.4 billion, +8%
• GE Digital 2015 revenue $5.0 billion, +22%
• $5.4 billion Appliances sale to Haier announced, expect to close mid-year (subject to customary closing conditions); ~$0.20 per share gain
• Alstom EPS impact of $0.00

GE CAPITAL PORTFOLIO UPDATE

• Signed $157 billion of dispositions in 2015; $104 billion closed, ahead of plan
• Verticals performing well, EPS of $0.04 for 4Q; $0.17 for 2015
• $4.3 billion dividend to parent in 2015; on track for ~$18 billion in 2016
• Completed Synchrony share exchange in November; reduced share count by 671 million shares
• On track to submit application for SIFI de-designation in 1Q’16

“GE executed well in a slow-growth environment. For 2015, we accomplished all of the goals we outlined for investors. We recognize that the first few weeks of 2016 have been especially volatile. However, our orders in the fourth quarter grew 1% organically and our backlog grew to $315 billion with Alstom. We believe in the strength of our business model and that there is enough growth out there to deliver in 2016.” - Jeff Immelt, Chairman and CEO

For earnings history and earnings-related data on General Electric (GE) click here.

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