(Updated - October 16, 2015 6:44 AM EDT)

General Electric (NYSE: GE) reported Q3 EPS of $0.29, $0.03 better than the analyst estimate of $0.26. Revenue was $26.2 billion, versus versus the consensus $28.6 billion.

Operating EPS in the quarter was $0.28.

“In a volatile environment, GE performed well this quarter, with industrial profit growth, organic revenue growth, and margins up 100 basis points. Our GE Capital exit plan is ahead of plan and we expect GE Capital dividends to the parent of ~$3 billion for 2015. This week we announced the sale of $30 billion of commercial lending businesses, bringing our total signed deals to date to $126 billion. We also expect to launch the Synchrony share exchange next week, which will significantly reduce the amount of GE stock outstanding. Through the exchange and dividends, we are on track to return ~$30 billion to shareowners in 2015,” Jeff Immelt, Chairman and CEO, said.

“GE is executing and is on track to deliver on its 2015 goals. Our portfolio transformation is happening at an unprecedented pace. We have a focused infrastructure business with leading capabilities in our markets. We are positioned to grow faster than our competitors, with a strong dividend. We are growing operating and gross profit margins, executing our cost-out initiatives, and making corporate smaller. We have a $199 billion backlog of services that positions the Company well for any cycle. We are transforming GE into the world’s premier Digital Industrial company, in a unique position to drive outcomes for customers and grow margins,” Immelt concluded.

Highlights:

• Industrial segment operating profit +5%, +9% organic, 5 of 7 segments growing earnings, Oil & Gas flat organically
• Industrial segment organic revenues +4%
• Industrial segment operating margins +100 bps, gross margins +80 bps
• Industrial CFOA YTD $6.1 billion, +23%
• Backlog at $270 billion, +5% vs. 3Q’14
• Regulatory approval for acquisition of Alstom power & grid; deal close expected within weeks
• $0.02 per share uncovered restructuring

GE CAPITAL PORTFOLIO UPDATE

• Signed $126 billion of dispositions, ahead of plan; on track for goal of closing ~$100 billion by year-end
• Verticals performing well, EPS of $0.03 in 3Q; on track for ~$0.15 EPS in 2015
• Expect ~$3 billion dividend in 2015; on track for ~$18 billion in 2016
• Launching Synchrony share exchange next week