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GE Beats on Q2 Earnings & Revenues, Reiterates 2016 View
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Industrial goods manufacturer General Electric Company (GE - Free Report) is actively pursuing its massive restructuring program in order to create a simpler and nimbler firm with a re-focus on core operations. From a classic conglomerate with diversified business interests in financial services, media, industrial and technology-based operations, the company is pruning its operating portfolio to focus on core manufacturing businesses with a digital edge.
GE has completed its appliance business divesture to Haier Group, a Chinese multinational consumer electronics manufacturing firm. The transaction unlocked incremental value by allocating more resources to high-growth core industrial businesses. However, for a company as large 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 6.8%, beating estimates twice.
Earnings estimate revisions have moved in both directions in the last month as investors remain sceptical about the performance of the company. Currently, GE has a Zacks Rank #3 (Hold), but that could definitely change following second-quarter 2016 earnings report, which was just released. 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 46 cents, and the company reported operating+verticals EPS of 51 cents.
Revenue: Quarterly revenues surpass estimates. GE posted consolidated revenues of $33,494 million, compared with Zacks Consensus Estimate of $30,844 million.
Key Stats to Note: Since Apr 2015 till the end of Jun 2016, GE Capital inked sale agreements worth approximately $180 billion in ENI, of which it has already completed deals worth $156 billion. With valuable synergies realized from the Alstom acquisition, GE has reiterated its industrial operating EPS guidance for 2016 and remains confident to return $26 billion to shareholders.
Stock Price: Shares were marginally up in pre-market trading following the healthy earnings beat.
Check back our full write up on this GE earnings report later!
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GE Beats on Q2 Earnings & Revenues, Reiterates 2016 View
Industrial goods manufacturer General Electric Company (GE - Free Report) is actively pursuing its massive restructuring program in order to create a simpler and nimbler firm with a re-focus on core operations. From a classic conglomerate with diversified business interests in financial services, media, industrial and technology-based operations, the company is pruning its operating portfolio to focus on core manufacturing businesses with a digital edge.
GE has completed its appliance business divesture to Haier Group, a Chinese multinational consumer electronics manufacturing firm. The transaction unlocked incremental value by allocating more resources to high-growth core industrial businesses. However, for a company as large 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 6.8%, beating estimates twice.
Earnings estimate revisions have moved in both directions in the last month as investors remain sceptical about the performance of the company. Currently, GE has a Zacks Rank #3 (Hold), but that could definitely change following second-quarter 2016 earnings report, which was just released. 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 46 cents, and the company reported operating+verticals EPS of 51 cents.
GENL ELECTRIC Price and EPS Surprise
GENL ELECTRIC Price and EPS Surprise | GENL ELECTRIC Quote
Revenue: Quarterly revenues surpass estimates. GE posted consolidated revenues of $33,494 million, compared with Zacks Consensus Estimate of $30,844 million.
Key Stats to Note: Since Apr 2015 till the end of Jun 2016, GE Capital inked sale agreements worth approximately $180 billion in ENI, of which it has already completed deals worth $156 billion. With valuable synergies realized from the Alstom acquisition, GE has reiterated its industrial operating EPS guidance for 2016 and remains confident to return $26 billion to shareholders.
Stock Price: Shares were marginally up in pre-market trading following the healthy earnings beat.
Check back our full write up on this GE earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>