General Electric (NYSE: GE) reported Q4 EPS of $0.92, $0.05 better than the analyst estimate of $0.87. Revenue for the quarter came in at $20.3 billion versus the consensus estimate of $21.48 billion.

GE Chairman and CEO H. Lawrence Culp, Jr. said, “2021 was an important year for the GE team, marked by significant strategic, operational, and financial progress. We delivered solid margin, EPS, and free cash flow performance in 2021, exceeding our outlook. Orders for the year were up double digits, supporting faster growth going forward, while supply chain challenges, commercial selectivity, and uncertainty surrounding the U.S. wind production tax credit impacted our top-line."
Culp continued, “We're seeing real momentum and opportunities for sustainable profitable growth from near-term improvements in GE's businesses, especially as Aviation recovers and our end markets strengthen. Our dramatic debt reduction means we can further intensify efforts to strengthen our operations and play offense, setting us up to deliver between $5.5 to $6.5 billion free cash flow in 2022 and more than $7 billion in 2023. As we lay the groundwork to create three independent companies focused on critical global needs, we're encouraged by the support from our customers, employees, and investors. We're confident that our businesses will deliver long-term growth and value.”

GUIDANCE:

General Electric sees FY2022 EPS of $2.80-$3.50, versus the consensus of $4.01. Free cash flow* of $5.5 billion to $6.5 billion.

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