General Electric (GE) Tops Q1 EPS by 4c

General Electric (NYSE: GE) reported Q1 EPS of $0.21, $0.04 better than the analyst estimate of $0.17. Revenues were $27.7 billion versus the consensus of $26.41 billion.

Chairman and CEO commented, Jeff Immelt, "The first quarter was a strong start to the year with organic revenues* +7%, orders +10%, and Industrial operating margin* +130 bps. We delivered $0.21 of Industrial operating + Verticals* earnings per share, flat as reported, but +12% excluding gains and restructuring.* We returned $4.4 billion to shareowners through dividends and buyback. Industrial operating cash flows* were negative $1.6 billion driven primarily by an increase in working capital and timing of billings on our long-term equipment and service contracts. We expect cash flows to improve throughout the remainder of the year, with no change to our full year cash flow framework. We reaffirm our 2017 operating framework for Industrial operating + Verticals EPS,* organic revenue growth* and Industrial operating margin* expansion."

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

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