(Updated - July 17, 2015 6:33 AM EDT)

General Electric (NYSE: GE) reported Q2 EPS of $0.31, $0.03 better than the analyst estimate of $0.28. Revenue for the quarter came in at $32.8 billion versus the consensus estimate of $28.7 billion.

GE had a strong second quarter, with good industrial organic growth and exceptional cash generation. The environment remains one of slow growth and volatility, particularly in growth markets, while the U.S. is gradually improving. Our industrial businesses had another quarter of strong EPS growth of 18% and orders up 8%. We continue to execute on our plan to exit GE Capital, with $68 billion in dispositions announced this year, and are on track for our goal of closing $100 billion in 2015. We are raising our 2015 Industrial operating EPS guidance to $1.13–1.20, and are confirming E Capital verticals are on track for EPS of $0.15, Chairman and CEO Jeff Immelt commented. Our strong industrial growth is a product of the GE Store. By sharing technology, leveraging our global resources, and scaling successful models and processes, we are poised to outperform our peers and are well-positioned to meet our investor goals for the year: double-digit Industrial EPS growth, industrial segment organic growth of 2–5%, $100 billion of GE Capital asset sales, $14–16 billion of CFOA, and $10–30 billion of cash returned to investors. We continue to lead in the exciting Industrial Internet market, which will accelerate growth and productivity. GE is executing well, and we continue to reshape the Company.

2Q HIGHLIGHTS

• Industrial segment operating profit +5%, +11% organic, 5 of 7 segments growing earnings (all segments up organically)
• Industrial segment revenues $26.9 billion, 0%, +5% organic Industrial segment operating margins +70 bps, gross margins +60 bps
• Industrial CFOA YTD $3.5 billion, +79%
• Record backlog of $272 billion, +8% vs. 2Q’14
• Orders +8%, +13% organic, with strong equipment orders
• in Aviation +37% and Power & Water +29%
• GE Capital dispositions ahead of plan, $68 billion signed

GE CAPITAL PORTFOLIO UPDATE

• Signed $68 billion of GE Capital dispositions, on track for
• goal of closing ~$100 billion by year-end
• Verticals performing well, EPS of $0.05 in 2Q; on track for
• $0.15 EPS in 2015
• Targeting 2015 signings of ~$120–150 billion

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