General Electric (GE) Misses Q3 EPS by 15c, Revenue Beats

General Electric (NYSE: GE) reported Q3 EPS of $0.35, $0.15 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $19.1 billion versus the consensus estimate of $18.55 billion.

GUIDANCE:

Sees FY EPS of $2.40-$2.80, versus the consensus of $2.63.

GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr. said, "Our team is delivering, with strong Aerospace performance in the third quarter, fueled by the improving commercial backdrop and our progress managing operations and the supply chain environment. We are building broad-based momentum with solid revenue and free cash flow results, as well as services growth in all businesses." Culp continued, "Within GE Vernova, Power remains on track to grow this year and we are taking significant actions to reset Renewable Energy. External catalysts, like recent U.S. legislation and the energy crisis in Europe, are increasing investment in new decarbonization technologies, helping position GE Vernova for longer-term growth." Culp concluded, "Our planned spin-offs remain on track with GE HealthCare ready to go in the first week of January. With leading positions in growing, critical sectors, we are excited about our plans to launch three independent, investment-grade companies set up to create long-term shareholder value."

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

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