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GE Beats on Q2 Earnings & Revenues, 2017 View Reiterated
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Industrial goods manufacturer General Electric Company (GE - Free Report) is aiming to focus on its core industrial operations after completing the GE Capital exit plan. The company has also reshuffled the top management to fuel its growth engine. John Flannery, the current President and CEO of GE Healthcare would take the helm as the CEO from Aug 01, 2017, and Chairman and CEO effective Jan 01, 2018, replacing Jeff Immelt, who led the company since 2001.
At the same time, GE has been selectively acquiring assets to boost its Industrial Internet vision. Such opportune transactions are likely to improve the top line of the company. In addition, GE has completed the merger of its Oil & Gas business with Baker Hughes to form an industry leader with an unrivalled mix of service and equipment capabilities. However, for a company as big as GE, additional revenues needed for growth are quite large, posing a challenge in developing businesses on such a vast scale. In the last four trailing quarters, GE has reported a positive average earnings surprise of 9.4%, beating estimates thrice.
Earnings estimate revisions have gone downhill in the last month as investors retain a bearish stance about the performance of the company. Currently, GE has a Zacks Rank #4 (Sell), but that could definitely change following second-quarter 2017 earnings report, which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GE operating earnings beat estimates. The Zacks Consensus Estimate called for EPS of 25 cents, and the company reported operating+verticals EPS of 28 cents.
Revenues: Quarterly revenues exceed estimates. GE posted consolidated revenues of $29,558 million, compared with Zacks Consensus Estimate of $29,123 million.
Key Stats to Note: GE has reiterated its operating framework for 2017 and continues to expect industrial operating+vertical EPS in the range of $1.60–$1.70, representing organic growth of 3–5%, and remains confident to return $19–$21 billion to shareholders.
Stock Price: Shares were up in pre-market trading following the release at the time of write-up on a healthy earnings beat.
Check back our full write up on this GE earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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GE Beats on Q2 Earnings & Revenues, 2017 View Reiterated
Industrial goods manufacturer General Electric Company (GE - Free Report) is aiming to focus on its core industrial operations after completing the GE Capital exit plan. The company has also reshuffled the top management to fuel its growth engine. John Flannery, the current President and CEO of GE Healthcare would take the helm as the CEO from Aug 01, 2017, and Chairman and CEO effective Jan 01, 2018, replacing Jeff Immelt, who led the company since 2001.
At the same time, GE has been selectively acquiring assets to boost its Industrial Internet vision. Such opportune transactions are likely to improve the top line of the company. In addition, GE has completed the merger of its Oil & Gas business with Baker Hughes to form an industry leader with an unrivalled mix of service and equipment capabilities. However, for a company as big as GE, additional revenues needed for growth are quite large, posing a challenge in developing businesses on such a vast scale. In the last four trailing quarters, GE has reported a positive average earnings surprise of 9.4%, beating estimates thrice.
Earnings estimate revisions have gone downhill in the last month as investors retain a bearish stance about the performance of the company. Currently, GE has a Zacks Rank #4 (Sell), but that could definitely change following second-quarter 2017 earnings report, which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GE operating earnings beat estimates. The Zacks Consensus Estimate called for EPS of 25 cents, and the company reported operating+verticals EPS of 28 cents.
General Electric Company Price and EPS Surprise
General Electric Company Price and EPS Surprise | General Electric Company Quote
Revenues: Quarterly revenues exceed estimates. GE posted consolidated revenues of $29,558 million, compared with Zacks Consensus Estimate of $29,123 million.
Key Stats to Note: GE has reiterated its operating framework for 2017 and continues to expect industrial operating+vertical EPS in the range of $1.60–$1.70, representing organic growth of 3–5%, and remains confident to return $19–$21 billion to shareholders.
Stock Price: Shares were up in pre-market trading following the release at the time of write-up on a healthy earnings beat.
Check back our full write up on this GE earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>