General Electric's (GE) Top-Line Shrank in Q1, But Leading Indicators 'Encouraging'
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Price: $348.37 +1.08%
Financial Fact:
Earnings (loss) from continuing operations: 2.1B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Earnings (loss) from continuing operations: 2.1B
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of General Electric (NYSE: GE) are indicated higher Friday following its first-quarter 2012 report issued earlier.
Revenue for the international mega-conglomerate dipped 8.2 percent from $38.33 billion reported in the same period last year to $35.18 billion. Net income fell 11.6 percent to $3.03 billion, or 29 cents per diluted share. Adjusting for certain items, GE's operating EPS was 34 cents per share.
Analyst's consensus estimate was at $34.66 billion for revs and 33 cents for EPS.
Excluding the Garanti sale, GE Capital reported a 27 percent increase in earnings to $1.8 billion. At the end of the quarter, GE Capital's Tier 1 common ratio stood at 10.4 percent.
GE generated 22 percent more cash in the quarter, bring the total to $2.1 billion.
GE's Transportation segment showed the strongest overall growth, its top-line running 41 percent better to $1.27 billion, with a 48 percent gain in profit. Energy Infrastructure revs rose 18 percent to $11.17 billion as profits popped 10 percent.
Costs rose about 1 percent, with operating margins fell from 19.4 percent last year to 11.2 percent, before any adjustments. Following adjustments, operating margin widened from 9.3 percent last year to 10.2 percent.
"This quarter we witnessed broad-based strength in orders across all our Infrastructure businesses and in both equipment and services," commented CEO Jeff Immelt. "We see encouraging leading indicators driven by global growth. Our strategy to invest in technology and global growth platforms continues to produce results with 11 percent organic Industrial segment revenue growth and 10% Industrial segment profit growth in the first quarter."
Shares are up 1.1 percent Friday morning.
Revenue for the international mega-conglomerate dipped 8.2 percent from $38.33 billion reported in the same period last year to $35.18 billion. Net income fell 11.6 percent to $3.03 billion, or 29 cents per diluted share. Adjusting for certain items, GE's operating EPS was 34 cents per share.
Analyst's consensus estimate was at $34.66 billion for revs and 33 cents for EPS.
Excluding the Garanti sale, GE Capital reported a 27 percent increase in earnings to $1.8 billion. At the end of the quarter, GE Capital's Tier 1 common ratio stood at 10.4 percent.
GE generated 22 percent more cash in the quarter, bring the total to $2.1 billion.
GE's Transportation segment showed the strongest overall growth, its top-line running 41 percent better to $1.27 billion, with a 48 percent gain in profit. Energy Infrastructure revs rose 18 percent to $11.17 billion as profits popped 10 percent.
Costs rose about 1 percent, with operating margins fell from 19.4 percent last year to 11.2 percent, before any adjustments. Following adjustments, operating margin widened from 9.3 percent last year to 10.2 percent.
"This quarter we witnessed broad-based strength in orders across all our Infrastructure businesses and in both equipment and services," commented CEO Jeff Immelt. "We see encouraging leading indicators driven by global growth. Our strategy to invest in technology and global growth platforms continues to produce results with 11 percent organic Industrial segment revenue growth and 10% Industrial segment profit growth in the first quarter."
Shares are up 1.1 percent Friday morning.
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