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GE Marginally Beats on Q3 Earnings, Trims 2016 Guidance
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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 made strategic acquisitions to boost its digital and 3D printing 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 9.5%, beating estimates thrice.
Earnings estimate revisions have mostly moved south 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 third-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 31 cents, and the company reported operating+verticals EPS of 32 cents.
Revenues: Quarterly revenues miss estimates. GE posted consolidated revenues of $29,266 million, compared with Zacks Consensus Estimate of $29,836 million.
Key Stats to Note: Since Apr 2015 till the end of Sep 2016, GE Capital inked sale agreements worth approximately $193 billion in ENI, of which it has already completed deals worth $173 billion. GE has narrowed its industrial operating EPS guidance for 2016 to $1.48-$1.52 per share and remains confident to return $30 billion to shareholders.
Stock Price: Shares were relative flat in pre-market trading following the release at the time of write-up as investors probably looked for a healthier earnings beat.
Check back our full write up on this GE earnings report later!
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GE Marginally Beats on Q3 Earnings, Trims 2016 Guidance
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 made strategic acquisitions to boost its digital and 3D printing 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 9.5%, beating estimates thrice.
Earnings estimate revisions have mostly moved south 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 third-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 31 cents, and the company reported operating+verticals EPS of 32 cents.
GENL ELECTRIC Price and EPS Surprise
GENL ELECTRIC Price and EPS Surprise | GENL ELECTRIC Quote
Revenues: Quarterly revenues miss estimates. GE posted consolidated revenues of $29,266 million, compared with Zacks Consensus Estimate of $29,836 million.
Key Stats to Note: Since Apr 2015 till the end of Sep 2016, GE Capital inked sale agreements worth approximately $193 billion in ENI, of which it has already completed deals worth $173 billion. GE has narrowed its industrial operating EPS guidance for 2016 to $1.48-$1.52 per share and remains confident to return $30 billion to shareholders.
Stock Price: Shares were relative flat in pre-market trading following the release at the time of write-up as investors probably looked for a healthier earnings beat.
Check back our full write up on this GE earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>