Back to top

Image: Bigstock

GE Beats Q2 Earnings and Revenues, Maintains '18 View

Read MoreHide Full Article

Industrial conglomerate General Electric Company (GE - Free Report) is aiming to become a high-tech industrial company. It intends to focus on just three core segments — power, aviation and renewable energy — and gradually exit all other businesses.

Per its restructuring plans, the company will separate GE Healthcare and turn it into a stand-alone company while will also exit its oil and gas businesses. Beside these, GE Transportation will be sold to Wabtec Corporation and efforts are on track to shrink exposure in GE Capital business. In addition, the company structural costs by more than $2 billion in 2018, majority of which is likely to come from the beleaguered power segment that sells electrical generation equipment.

In the last four trailing quarters, GE has reported a positive average earnings surprise of 3.27%, beating estimates twice for as many misses. In the last quarter, the company’s earnings of 16 cents per share exceeded the Zacks Consensus Estimate by 45.45%.

General Electric Company Price, Consensus and EPS Surprise
 

General Electric Company Price, Consensus and EPS Surprise | General Electric Company Quote

Currently, GE has a Zacks Rank #4 (Sell), but that could definitely change following its second-quarter 2018 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 adjusted earnings beat estimates. The Zacks Consensus Estimate called for EPS of 18 cents, and the company reported adjusted earnings per share came in at 19 cents per share.

Revenue: Quarterly revenues trumped estimates. GE posted consolidated revenues of $30,104 million, higher than the Zacks Consensus Estimate of $29,823 million.

Key Stats to Note: GE’s Oil & Gas, Aviation and Healthcare segments recorded improved year-over-year results while Power, Renewable Energy and Transportation declined. Adjusted earnings per share for 2018 are predicted to be within $1.00-$1.07 range.

Stock Price: Shares were up 0.9% in pre-market trading following the release at the time of write-up.

Check back later for 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 >>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


GE Aerospace (GE) - free report >>

Published in