General Electric (GE) Q3 Industrial Sales Rise 19%, EPS In-Line
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Price: $327.09 +2.29%
EPS Growth %: +19.9%
Financial Fact:
Net earnings (loss) attributable to the Company: 1.99B
Today's EPS Names:
OCCI, IPX, ALZN, More
EPS Growth %: +19.9%
Financial Fact:
Net earnings (loss) attributable to the Company: 1.99B
Today's EPS Names:
OCCI, IPX, ALZN, More
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General Electric (NYSE: GE) is trading slightly weak Friday, following third-quarter results from the diversified mega-conglomerate.
Total revenue in the quarter rose marginally from $35.373 billion last year to $35.367 billion this quarter. The Industrial segment posted revenue growth of 19% to $23.4 billion.
Despite the negligible increase in revs, net earnings rose 18.3 percent to $2.343 billion, or 22 cents per share - up 22%. Operating earnings were up 11 percent to $3.4 billion. Adjusting for preferred stock redemption for Berkshire Hathaway (NYSE: BRK-A), and earnings were a more robust 31 cents per share, up 11% from last year.
Overall, the market was looking for revenue of $34.94 billion and EPS of $0.31.
GE Capital (GECS) saw a 1 percent increase in revs to $12.018 billion, with earnings swinging to a profit of $1.455 billion. Overall GECS volume grew 15 percent to $43 billion, with margins of 5.4 percent.
Industrial orders rose 16 percent and Industrial backlog was at a record $191 billion.
"We improved earnings, achieved solid double-digit infrastructure order growth, executed on our balanced capital allocation plan and maintained a strong balance sheet," commented CEO Jeff Immelt. "We ended the quarter with a record high order backlog of $191 billion and we remain confident in our full-year 2011 operating framework."
GE is projecting double-digit operating EPS growth in 2012, but did not offer specific guidance.
Shares are down about 0.8 percent pre-market Friday.
Total revenue in the quarter rose marginally from $35.373 billion last year to $35.367 billion this quarter. The Industrial segment posted revenue growth of 19% to $23.4 billion.
Despite the negligible increase in revs, net earnings rose 18.3 percent to $2.343 billion, or 22 cents per share - up 22%. Operating earnings were up 11 percent to $3.4 billion. Adjusting for preferred stock redemption for Berkshire Hathaway (NYSE: BRK-A), and earnings were a more robust 31 cents per share, up 11% from last year.
Overall, the market was looking for revenue of $34.94 billion and EPS of $0.31.
GE Capital (GECS) saw a 1 percent increase in revs to $12.018 billion, with earnings swinging to a profit of $1.455 billion. Overall GECS volume grew 15 percent to $43 billion, with margins of 5.4 percent.
Industrial orders rose 16 percent and Industrial backlog was at a record $191 billion.
"We improved earnings, achieved solid double-digit infrastructure order growth, executed on our balanced capital allocation plan and maintained a strong balance sheet," commented CEO Jeff Immelt. "We ended the quarter with a record high order backlog of $191 billion and we remain confident in our full-year 2011 operating framework."
GE is projecting double-digit operating EPS growth in 2012, but did not offer specific guidance.
Shares are down about 0.8 percent pre-market Friday.
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