Skip to content
AnalystLens

GE · GENERAL ELECTRIC CO

50 filings

10-Q

GE 10-Q Quarterly Reports

GENERAL ELECTRIC CO - 50 quarterly reports

Filing record · 2016–202610-K1110-Q348-K179

GE filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 179 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Deal closed8-K · Apr ’20Apr ’20
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Oct ’25Oct ’25
  1. 2026-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2026

    General Electric Company (GE Aerospace) reported a strong third quarter for 2026, showcasing significant year-over-year growth in both revenue and net income from continuing operations. Total revenue increased by 16% to $14.1 billion, driven by robust performance in both equipment and services segments. Net income from continuing operations attributable to common shareholders rose to $2.41 billion, a 10.7% increase. The company's Commercial Engines & Services (CES) segment was a primary growth driver, with revenues up 21% and profits up 21%, fueled by increased shop visits, spare parts demand, and engine deliveries. The Defense & Propulsion Technologies (DPT) segment also saw revenue and profit growth. GE Aerospace announced a major strategic move with an agreement to acquire Consolidated Precision Products (CPP) for $11.75 billion, intended to be funded by cash and new debt, signaling a commitment to expanding its manufacturing capabilities. The company also reported strong free cash flow generation of $6.7 billion for the first nine months of the year. Despite ongoing supply chain constraints and inflationary pressures, GE Aerospace continues to execute on its strategy, demonstrating resilience and a positive outlook supported by strong demand and strategic investments.

    Oct 20, 2026
  2. 2026-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2026

    General Electric Company (GE) reported strong top-line growth in its second quarter of 2026, with total revenue increasing by 21% year-over-year to $13.3 billion, driven by robust performance in both equipment and services within its Commercial Engines & Services (CES) segment. Net income from continuing operations also saw a healthy increase of $0.4 billion, reflecting improved segment profit. The company's Commercial Engines & Services segment is experiencing significant demand for its engines and aftermarket services, supported by strategic investments in manufacturing and overhaul capabilities. The Defense & Propulsion Technologies (DPT) segment also contributed positively, with revenue up 16% due to increased volume and pricing. The company continues to manage supply chain challenges and inflationary pressures by leveraging its FLIGHT DECK operating model and collaborating with suppliers. GE Aerospace is also investing in domestic manufacturing, planning to invest $1 billion in U.S. facilities and hire 5,000 workers in 2026. The company demonstrated strong liquidity with $9.3 billion in cash, cash equivalents, and restricted cash, and maintained a disciplined capital allocation strategy, including significant share repurchases totaling $2.0 billion in the quarter. Overall, GE Aerospace presented a positive financial update with strong operational execution and strategic investments for future growth.

    Jul 16, 2026
  3. 2026-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2026

    General Electric Company (GE Aerospace) reported a strong first quarter for 2026, demonstrating significant revenue growth and stable net income from continuing operations. Total revenue surged by 25% year-over-year, driven by a substantial increase in both equipment and services revenue within the Commercial Engines & Services (CES) segment. The Defense & Propulsion Technologies (DPT) segment also experienced robust growth in both revenue and profit. The company's strategic focus on ramping up services and equipment, alongside investments in manufacturing and supply chain capacity, is yielding positive results. Despite ongoing supply chain challenges and inflationary pressures, GE Aerospace's operational execution, supported by its FLIGHT DECK lean operating model, has enabled consistent improvement in deliveries and aftermarket output. The company maintained a healthy liquidity position with $11.0 billion in cash, cash equivalents, and restricted cash. Shareholder returns remain a priority, with continued share repurchases executed under a new, larger authorization. Credit ratings have also seen positive developments, with Moody's upgrading GE Aerospace's long-term rating and S&P revising its outlook to positive. The company's significant Remaining Performance Obligation (RPO) of over $211 billion signals strong future revenue visibility, particularly within the services segment.

    Apr 21, 2026
  4. 2025-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2025

    General Electric Company (GE) reported a strong third quarter of 2025, demonstrating robust top-line growth and improved profitability across its core aerospace segments. Total revenue surged by 24% year-over-year, driven by a significant increase in both equipment and services revenue, reflecting higher engine deliveries, improved pricing, and increased shop visit volumes. The company's backlog, as measured by Remaining Performance Obligation (RPO), also saw a healthy increase, indicating sustained demand for its products and services. Profitability improved considerably, with net income from continuing operations rising by $0.5 billion. Adjusted EPS saw a substantial increase of 44%, underscoring operational efficiencies and effective cost management. GE Aerospace's commitment to returning capital to shareholders is evident through continued share repurchases, and the company's credit ratings have been upgraded by Moody's and S&P, reflecting its strengthened financial position. While supply chain constraints and inflation remain factors, GE Aerospace appears to be effectively navigating these challenges, positioning itself for continued growth.

    Oct 21, 2025
  5. 2025-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2025

    General Electric Company (GE) reported strong financial performance for the second quarter of 2025, driven by significant revenue growth in its core Aerospace segment. Total revenue increased by 21% year-over-year, reaching $11.023 billion, fueled by robust demand for both equipment and services. The company's net income from continuing operations saw a substantial jump to $2.008 billion, up from $1.320 billion in the prior year's quarter, reflecting improved segment profitability and favorable adjustments. This quarter also saw GE's credit ratings upgraded by both Moody's and S&P, indicating enhanced financial stability and market confidence. The company continues to execute its strategic priorities, including investing in manufacturing capacity and innovation for future flight technologies, while also managing macroeconomic challenges such as supply chain disruptions and inflation. The strong financial results and positive credit outlook provide a solid foundation as GE Aerospace focuses on driving shareholder value and continued operational excellence.

    Jul 21, 2025
  6. 2025-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2025

    General Electric Company (GE) reported a strong first quarter for 2025, demonstrating robust growth driven primarily by its GE Aerospace segment. Total revenue increased by 11% year-over-year to $9.9 billion, with significant contributions from both equipment and services. Net income from continuing operations attributable to common shareholders rose to $1.97 billion, translating to a diluted EPS of $1.83, up from $1.58 in the prior year period. This performance was bolstered by increased segment profit, particularly in Commercial Engines & Services, despite ongoing supply chain challenges impacting engine deliveries. The company also highlighted progress in its strategic priorities, including investments in U.S. manufacturing and a focus on future flight technologies through initiatives like the RISE program. Liquidity remains strong, with $12.4 billion in cash, cash equivalents, and restricted cash. Furthermore, GE Aerospace saw credit rating upgrades from both Moody's and S&P, reflecting its improved financial standing and outlook. Shareholder returns were also a focus, with $1.9 billion in share repurchases executed in the quarter.

    Apr 22, 2025
  7. 2024-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2024

    General Electric Company (GE), now operating as GE Aerospace, reported solid third-quarter 2024 results, demonstrating a clear path forward post-spin-off of GE Vernova. Total revenues for the quarter rose to $9.8 billion, a 6% increase year-over-year, driven primarily by growth in the Commercial Engines & Services segment. This segment saw an 8% revenue increase, fueled by higher spare parts volume and improved pricing, underscoring the strong demand in commercial air travel. The Defense & Propulsion Technologies segment also showed resilience with a 2% revenue increase, supported by modernization efforts in defense budgets. Profitability improved significantly, with reported profit reaching $1.9 billion. Adjusted earnings per share stood at $1.15, reflecting the company's ongoing operational efficiencies and strategic focus. The company also reported strong free cash flow generation of $4.6 billion for the nine months ended September 30, 2024, indicating robust financial health and the ability to return value to shareholders. The significant increase in Remaining Performance Obligation (RPO) to $166.1 billion highlights a strong backlog and sustained future revenue visibility, particularly in services.

    Oct 22, 2024
  8. 2024-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2024

    General Electric Company (GE), now operating as GE Aerospace, reported solid financial results for the second quarter of 2024, demonstrating resilience and strategic progress post-GE Vernova separation. Total revenues increased to $9.1 billion, driven by a strong performance in the Commercial Engines & Services (CES) segment, which saw higher shop visit volumes and pricing. The Defense & Propulsion Technologies segment also exhibited growth, supported by government defense spending and increased demand for services. The company's strategic focus on innovation, particularly in sustainable flight technologies through initiatives like the RISE program, remains a key area of investment. GE Aerospace also continued its capital return program, repurchasing $1.9 billion in common stock during the quarter under a new $15 billion authorization. While the separation of GE Vernova has simplified the company's structure and allowed for focused operations within aerospace, the financial statements reflect the impact of discontinued operations. However, ongoing operational improvements and cost management measures are evident, as reflected in the increase in free cash flow to $2.8 billion for the first six months of the year. The company maintains a strong liquidity position and has received positive outlooks from credit rating agencies, indicating financial stability and confidence in its future strategy.

    Jul 23, 2024
  9. 2024-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2024

    General Electric (GE) has completed the separation of its GE Vernova business, now operating solely as GE Aerospace. The first quarter of 2024 reflects this transition, with total revenues reaching $16.1 billion, an 11% increase year-over-year, driven by strong performance across all segments. Aerospace, a key segment, saw a 16% revenue increase to $8.1 billion, benefiting from robust commercial air travel and defense sector demand. While the company reported a net loss attributable to GE common shareholders of $1.5 billion for the quarter, this was largely impacted by a significant decrease in gains from sold ownership interests, particularly related to its GE HealthCare stake, and increased separation costs. Excluding these one-time items, adjusted earnings per share were $0.82. The company's free cash flow showed a substantial improvement, reaching $0.9 billion, up from $0.1 billion in the prior year, indicating improved operational cash generation post-separation. GE Aerospace is navigating ongoing inflationary pressures and supply chain challenges by implementing cost productivity measures and price adjustments. The company's outlook remains positive, with continued investment in R&D for sustainable flight technologies. The financial position remains solid, with $18.4 billion in cash, cash equivalents, and restricted cash. Looking ahead, GE Aerospace plans to return a majority of its free cash flow to shareholders through dividends and share repurchases, underscoring a commitment to shareholder value creation following its strategic transformation.

    Apr 23, 2024
  10. 2023-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2023

    General Electric Company (GE) reported strong revenue growth in the third quarter of 2023, with total revenues reaching $17.3 billion, a 20% increase year-over-year, driven significantly by its Aerospace and Renewable Energy segments. This top-line performance reflects robust demand in commercial air travel and ongoing recovery in aviation services, alongside improved order intake in renewable energy solutions. While the company achieved positive operating cash flow and free cash flow for the nine-month period, a notable increase in separation costs associated with the ongoing restructuring into three independent companies (GE Aerospace, GE Vernova, and GE HealthCare) impacted profitability. Adjusted earnings per share saw significant improvement, underscoring operational performance excluding certain one-time items. The company is actively managing inflationary pressures and supply chain challenges through cost productivity measures and pricing adjustments, demonstrating resilience in a dynamic economic environment. The planned spin-off of GE Vernova remains a key strategic focus for the company.

    Oct 24, 2023
  11. 2023-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2023

    General Electric (GE) reported a strong second quarter for 2023, driven by significant revenue growth in its Aerospace segment and improved performance in Renewable Energy and Power. Total revenues increased by 18% year-over-year to $16.7 billion, with organic revenues up 19%. The company's earnings per share (EPS) from continuing operations was $0.91, a substantial improvement from the prior year's loss, bolstered by gains on investments and increased segment profit. Free cash flow also saw a significant turnaround, moving from a negative $1.0 billion in the first half of 2022 to a positive $0.5 billion in the same period of 2023. The company continues to advance its strategic plan of separating into three distinct public companies, with the spin-off of GE HealthCare completed and progress being made towards the GE Vernova separation. Key performance drivers include robust demand in commercial air travel for Aerospace, and positive impacts from the Inflation Reduction Act expected for Renewable Energy. While inflationary pressures and supply chain challenges persist, GE is actively managing these through cost productivity initiatives and pricing adjustments. The company reiterated its commitment to a disciplined financial policy and maintaining an investment-grade credit rating.

    Jul 25, 2023
  12. 2023-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2023

    General Electric (GE) reported a strong first quarter of 2023, marked by a significant increase in total revenues to $14.5 billion, up 14% year-over-year, primarily driven by robust performance in the Aerospace and Power segments. The company's net earnings attributable to GE common shareholders surged to $7.36 billion, a substantial improvement from a net loss of $1.19 billion in the prior year's quarter. This turnaround was largely influenced by a significant gain on equity securities, notably from the GE HealthCare investment, and the non-recurrence of prior year charges. Operationally, GE Aerospace demonstrated strong growth, with revenues up 25% driven by commercial engine and services demand, reflecting a recovery in air travel. While Renewable Energy segment revenues saw a slight decline, segment losses narrowed due to improved performance in Grid Solutions and cost reduction initiatives. The Power segment also experienced revenue growth and improved profitability, supported by Gas Power services. The company continues to navigate inflationary pressures and supply chain challenges by implementing cost productivity measures and pricing adjustments. GE also made progress on its strategic plan to separate into three independent companies, with the spin-off of GE HealthCare completed in January 2023.

    Apr 25, 2023
  13. 2022-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2022

    General Electric (GE) reported mixed results for the third quarter of 2022. Total revenues increased by 3% to $19.1 billion, primarily driven by growth in the Aerospace and HealthCare segments. However, the company reported a net loss from continuing operations of $153 million, or $(0.14) per share. This loss was significantly impacted by a $0.5 billion net loss on the value of equity securities and decreases in segment profit. Operationally, the Aerospace segment showed strong recovery, with revenues up 24% and profit up 52%, benefiting from increased air traffic and services. HealthCare also saw revenue growth of 6%, albeit with a slight decrease in profit margin. The Renewable Energy segment continued to face significant headwinds, with revenues down 15% and substantial losses, impacted by project delays, cost inflation, and warranty reserves. The Power segment also experienced revenue declines of 12% and reduced profit margins. Free cash flow for the nine months ended September 30, 2022, was $0.5 billion, a significant improvement from $(1.8) billion in the prior year, indicating progress in cash generation despite operational challenges. The company is actively managing supply chain pressures and inflation, though these factors continue to impact margins.

    Oct 25, 2022
  14. 2022-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2022

    General Electric (GE) reported mixed results for the second quarter of 2022, with revenue increasing slightly year-over-year but earnings impacted by significant non-cash charges and ongoing macroeconomic pressures. The company's strategic plan to split into three independent public companies (GE Aerospace, GE HealthCare, and GE Vernova) remains a key focus, with new brand names announced. Aerospace demonstrated strong recovery and revenue growth, driven by increased shop visit volume and spare part shipments, reflecting the ongoing rebound in commercial air traffic. Conversely, Renewable Energy faced significant headwinds, including declining wind turbine deliveries and rising costs, leading to increased segment losses. HealthCare saw modest revenue growth but experienced a decline in segment profit due to inflation and logistics costs. The company is actively managing supply chain disruptions and inflationary pressures across its segments.

    Jul 26, 2022
  15. 2022-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2022

    General Electric (GE) reported flat total revenues of $17.0 billion for the first quarter of 2022, largely driven by a robust performance in its Aviation segment, which was offset by declines in Power and Renewable Energy. Despite stable revenues, the company incurred a net loss attributable to GE common shareholders of $(1.1) billion, or $(0.99) per share. This loss was significantly impacted by several one-time charges, including an $0.8 billion impairment charge related to the planned sale of a portion of its Steam Power business, and $0.2 billion in charges stemming from the conflict in Russia and Ukraine. Operationally, the Aviation segment showed strong growth, with revenues up 12% year-over-year, reflecting the ongoing recovery in commercial air travel. Conversely, Renewable Energy and Power segments experienced revenue declines, citing supply chain challenges, inflation, and market uncertainties. The company's outlook remains focused on its strategic plan to split into three independent companies, with continued efforts to navigate supply chain pressures and global economic headwinds. Free Cash Flow (FCF) usage improved year-over-year to $(0.9) billion from $(3.4) billion, indicating progress in cash generation despite the operational challenges.

    Apr 26, 2022
  16. 2021-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2021

    General Electric Company (GE) reported its third-quarter 2021 results, showcasing a mixed financial performance driven by segment-specific trends and ongoing strategic transformations. Consolidated revenues saw a slight decrease, primarily due to lower GE Industrial and GE Capital revenues. However, the company highlighted significant improvements in profitability, especially within its GE Industrial segment, boosted by gains on equity securities and higher profits in the Aviation and Power segments. The Aviation division demonstrated resilience with improved market fundamentals despite the ongoing impact of the COVID-19 pandemic on air travel, while Renewable Energy faced revenue declines and increased losses due to market uncertainties and product introduction costs. Operationally, GE is progressing with its GECAS divestiture to AerCap, expected to close soon, which will significantly impact its financial structure. The company also continues its liability management actions, having repurchased substantial amounts of debt. Despite supply chain pressures and inflationary impacts noted across several segments, GE remains focused on cost reduction and strategic investments for future growth, particularly in sustainable aviation and healthcare innovation.

    Oct 26, 2021
  17. 2021-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2021

    General Electric (GE) reported its second-quarter 2021 financial results, showing a significant rebound in revenues and improved profitability compared to the prior year period, largely driven by the performance of its industrial segments. Consolidated revenues increased by 9% to $18.3 billion, with GE Industrial revenues up 9% primarily due to strong performance in Aviation, Healthcare, and Renewable Energy. The company also managed its debt effectively, completing a significant debt tender and planning a reverse stock split. While the COVID-19 pandemic continues to impact operations, particularly in the Aviation segment, GE is focused on executing its strategic priorities, including the ongoing GECAS transaction with AerCap, which is expected to provide substantial cash proceeds. Investors should note the company's focus on deleveraging and strengthening its balance sheet. While earnings per share from continuing operations remained negative, adjusted earnings per share showed improvement, indicating operational progress. The company maintained a strong liquidity position with substantial cash reserves and available credit lines.

    Jul 27, 2021
  18. 2021-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2021

    General Electric Company (GE) reported its first-quarter 2021 results, characterized by a significant decline in consolidated revenues and a net loss attributable to shareholders. The primary driver for the revenue decrease was a substantial drop in GE Industrial revenues, heavily impacted by the ongoing effects of the COVID-19 pandemic on its Aviation segment. Despite operational challenges, GE reported progress on its strategic initiatives, most notably the announced agreement to combine its GE Capital Aviation Services (GECAS) business with AerCap Holdings N.V., a transaction expected to yield significant cash proceeds and a substantial stake in the combined entity. The company also continues its focus on de-leveraging and strengthening its balance sheet. While the industrial segments faced headwinds, the Healthcare segment showed organic revenue growth, indicating resilience in certain areas of the business. The financial results reflect the ongoing transformation at GE, with a notable non-cash after-tax charge related to the GECAS transaction. The company ended the quarter with a solid cash position and available credit lines, emphasizing its commitment to liquidity. Investors will be watching GE's execution of its strategic portfolio actions, cost-saving initiatives, and its ability to navigate the lingering impacts of the pandemic, particularly on its Aviation business, as key indicators for future performance.

    Apr 27, 2021
  19. 2020-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2020

    General Electric (GE) reported its third-quarter 2020 results, demonstrating resilience amidst the ongoing COVID-19 pandemic. While consolidated revenues saw a notable decline compared to the prior year, driven significantly by a severe downturn in the Aviation segment, other industrial segments showed mixed performance. Healthcare experienced increased demand for certain products, while Renewable Energy and Power saw slight revenue upticks, though order volumes were down. The company continued its focus on cost management and cash preservation, with significant actions taken across the organization, particularly in Aviation. GE's liquidity position remained strong, with substantial cash reserves and available credit lines. However, the company is also navigating ongoing SEC investigations related to legacy matters, which have resulted in a reserve for potential costs.

    Oct 28, 2020
  20. 2020-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2020

    General Electric (GE) reported a significant revenue decline in the second quarter of 2020, primarily driven by the severe impact of the COVID-19 pandemic on its Aviation segment. Consolidated revenues were $17.7 billion, down 24% year-over-year, with GE Industrial revenues decreasing 25%. The Aviation segment saw a substantial revenue drop of 44% due to reduced air travel and its associated impact on engine and service orders. While the Healthcare segment experienced increased demand for certain products like ventilators, this was largely offset by declines in other areas. GE continued to implement cost-saving and cash preservation measures, targeting over $2 billion in operational cost out and over $3 billion in cash preservation actions company-wide. The company also took steps to bolster its liquidity by issuing $13.5 billion in longer-dated debt, extending its maturity profile and reducing near-term debt obligations. Despite these efforts, GE reported a net loss attributable to common shareholders of $2.18 billion for the quarter, or $(0.27) per share. However, the company highlighted its substantial cash position of $41.4 billion at the end of the quarter, providing a cushion against ongoing market uncertainties. The company also recognized significant goodwill impairments across its Aviation and Capital segments due to the pandemic's impact on business outlooks.

    Jul 29, 2020
  21. 2020-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2020

    General Electric Company (GE) reported its first-quarter 2020 results amidst the unprecedented impact of the COVID-19 pandemic. The company experienced significant headwinds, particularly in its Aviation segment, due to reduced air travel and grounded fleets. Revenues for the quarter declined to $20.5 billion from $22.2 billion in the prior year. However, a substantial one-time gain from the sale of its BioPharma business within Healthcare boosted reported earnings significantly. Adjusted earnings per share (EPS) paint a clearer picture of ongoing operational performance, which was impacted by the pandemic's effects across various segments. Despite the challenges, GE ended the quarter with a robust cash position of $47.3 billion. The company has taken proactive cost-saving and cash preservation measures, targeting over $2 billion in operational cost out and over $3 billion in cash preservation actions. Furthermore, GE completed a significant debt offering and tender offer in April 2020 to extend debt maturities and enhance liquidity. The company remains focused on deleveraging its balance sheet, although it now expects to achieve prior targets over a longer period due to increased uncertainty.

    Apr 29, 2020
  22. 2019-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2019

    General Electric (GE) reported flat consolidated revenues of $23.4 billion for the third quarter of 2019 compared to the prior year. However, industrial segment organic revenues showed a healthy 7% increase, driven by strong performance in Aviation, Renewable Energy, and Healthcare, partially offset by the Power segment. The company continued its significant portfolio transformation, notably deconsolidating Baker Hughes and recording an $8.7 billion loss in discontinued operations, while also completing the spin-off of its Transportation segment. GE highlighted efforts to improve its financial position, including a tender offer to repurchase $4.8 billion of debt. However, a $1.0 billion pre-tax charge related to an insurance premium deficiency test in GE Capital, along with continued challenges in the Power segment and a $744 million goodwill impairment in Renewable Energy, impacted overall profitability. Investors should monitor the ongoing execution of GE's industrial segments, especially the recovery in Power, and the company's progress in reducing its debt and simplifying its financial services operations.

    Oct 30, 2019
  23. 2019-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2019

    General Electric (GE) reported a decline in consolidated revenues for the second quarter of 2019, primarily due to asset dispositions and foreign currency impacts. The company experienced a net loss of $0.01 per share on a consolidated basis. However, "adjusted" earnings per share, which excludes certain charges and gains, were $0.17. GE Industrial segment organic revenues saw an increase of 7%, driven by Renewable Energy, Oil & Gas, Aviation, and Healthcare. The company made significant progress in divesting non-core assets, including the spin-off of its Transportation segment and the agreement to sell its BioPharma business. Despite these divestitures, the company recognized a significant non-cash goodwill impairment charge of $0.7 billion in the Renewable Energy segment. The company's financial performance was impacted by various strategic actions, including the spin-off of Transportation to Wabtec and the pending sale of BioPharma. The Aviation segment remained a strong performer, while the Power segment continued to face challenges due to overcapacity and pricing pressure. GE's liquidity position remained solid with $20.1 billion in cash and cash equivalents at the end of the quarter. The company is focusing on deleveraging and operational improvements across its segments.

    Jul 31, 2019
  24. 2019-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2019

    General Electric (GE) reported its first-quarter 2019 results, highlighting significant progress in its strategic transformation. The company's consolidated revenues decreased by 2% year-over-year to $27.3 billion, primarily due to the divestiture of several businesses. However, industrial segment organic revenues saw a positive increase of 5%, driven by strong performance in Aviation, Oil & Gas, Healthcare, and Renewable Energy, partially offset by the Power segment. The company reported a significant gain from discontinued operations related to the spin-off and merger of its Transportation segment with Wabtec. GE also announced an agreement to sell its BioPharma business within Healthcare, a key step in streamlining its portfolio. The company continues its focus on de-leveraging and improving its financial position. While GE Industrial Free Cash Flows remained negative at $(1.8) billion, there was an improvement in Adjusted GE Industrial Free Cash Flows to $(1.2) billion, signaling progress in cash generation. GE is actively managing its portfolio through strategic divestitures and focusing on core industrial businesses to drive future growth and profitability.

    Apr 30, 2019
  25. 2018-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2018

    General Electric (GE) reported a significant net loss of $22.8 billion for the third quarter of 2018, primarily driven by a massive $22.0 billion non-cash goodwill impairment charge related to its Power segment. Excluding this impairment and other special items, adjusted earnings per share was $0.14. Consolidated revenues decreased by 4% to $29.6 billion, largely due to the divestiture of businesses like Water and Industrial Solutions. Despite the significant loss, GE announced a drastic reduction in its quarterly dividend to $0.01 per share, effective December 2018, which is expected to save approximately $3.9 billion annually. The company is undergoing a strategic transformation, focusing on its Power, Renewable Energy, and Aviation businesses, with plans to separate GE Healthcare and divest its stake in Baker Hughes. The company also saw a substantial increase in GE Pension Plan contributions, impacting cash flows from operations.

    Oct 30, 2018
  26. 2018-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2018

    General Electric (GE) reported its second quarter 2018 results, highlighting a strategic shift focused on streamlining its portfolio and reducing debt. Consolidated revenues saw a modest increase of 3% to $30.1 billion, though organic industrial segment revenues declined by 6%, primarily due to weakness in the Power and Oil & Gas segments. The company is actively pursuing portfolio divestitures, including the recent sale of its Industrial Solutions business and announced plans to separate GE Healthcare into a standalone company. Restructuring and other charges were significant, reflecting ongoing cost-reduction efforts. GE's Industrial segment profit margins saw a slight improvement year-over-year on a GAAP basis, but the company is facing ongoing challenges in certain segments like Power and Renewable Energy due to market softness and pricing pressures. Liquidity remains a focus, with GE managing its cash position and debt levels. The company announced plans to substantially reduce GE Industrial net debt by approximately $25 billion by the end of 2020 and achieve at least $500 million in corporate savings by the same date. Despite ongoing challenges and a negative outlook from credit rating agencies, GE is navigating a significant transformation, with a clear strategy to reshape its business for future stability and growth. Investors will be closely watching the execution of these strategic initiatives, particularly the planned separations and debt reduction targets.

    Jul 27, 2018
  27. 2018-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2018

    General Electric (GE) reported its first quarter 2018 results, showing a mixed performance across its diverse segments. The company experienced a 7% increase in consolidated revenues, driven by a 9% rise in its industrial segments, largely attributed to the Baker Hughes acquisition and favorable foreign currency movements. However, organic industrial segment revenues declined by 4%, primarily due to softer demand in the Power and Oil & Gas sectors. The Aviation and Healthcare segments demonstrated resilience with revenue growth. Financially, GE reported a consolidated loss from continuing operations, though adjusted earnings per share saw an improvement. A significant development was the recording of a $1.5 billion reserve in discontinued operations related to the U.S. Department of Justice's investigation into WMC and GE Capital. The company's liquidity position remained a focus, with GE Capital no longer expected to issue incremental senior unsecured term debt until 2020. Moody's changed its outlook on GE and GE Capital to negative, affirming existing ratings, while S&P and Fitch ratings remained unchanged.

    May 1, 2018
  28. 2017-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2017

    General Electric Company (GE) reported its third-quarter 2017 financial results, showing consolidated revenues of $33.5 billion, a 14% increase year-over-year, largely driven by the Baker Hughes transaction and a gain from the sale of its Water business. However, excluding these items, revenues saw a modest 1% decline, primarily due to weakness in the Power and Oil & Gas segments, with organic industrial revenues down 1%. Net earnings attributable to GE common shareowners decreased to $1.8 billion, impacted by significant restructuring and impairment charges totaling $2.4 billion, including goodwill impairment in the Power Conversion business. Leadership changes were a notable development, with John L. Flannery succeeding Jeff Immelt as CEO in August 2017, and Jamie S. Miller appointed CFO effective November 1, 2017. The company is actively managing a portfolio transformation, including plans to exit $20 billion in assets over the next one to two years. This includes the announced sale of the Industrial Solutions business. GE Capital continues its exit plan, with dividends to GE decreasing significantly year-over-year. The company faces ongoing challenges in its Power segment, particularly with service volumes and equipment shipments, while Aviation and Healthcare showed positive revenue growth. The company's credit ratings were placed on negative outlook by S&P and Fitch, reflecting concerns about future performance and restructuring efforts.

    Oct 30, 2017
  29. 2017-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2017

    General Electric (GE) reported its second quarter 2017 financial results, reflecting a period of significant strategic shifts and operational adjustments. The company's consolidated revenues decreased by 12% year-over-year to $29.6 billion, impacted by the prior year's gain from the Appliances business sale and a 12% decline in Financial Services revenues. Industrial segment revenues saw a modest 2% decrease, though organic industrial revenue growth remained positive at 2% for the quarter. The company announced a leadership transition with Jeffrey Immelt set to retire as CEO, succeeded by John L. Flannery. GE is actively executing its GE Capital Exit Plan, which is reducing the size of its financial services businesses. This is reflected in the significant decrease in Financial Services revenues and losses. The company also completed the creation of Baker Hughes, a GE company, in July 2017. Despite a challenging quarter in certain industrial segments like Oil & Gas and Energy Connections & Lighting, the Aviation and Healthcare segments showed strength with revenue and profit growth. The company remains focused on cost reduction and operational efficiency as it navigates its portfolio transformation.

    Jul 28, 2017
  30. 2017-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2017

    General Electric (GE) reported its first-quarter 2017 results, marked by significant strategic shifts aimed at streamlining its portfolio and focusing on industrial operations. Consolidated revenues saw a slight decrease of 1% to $27.7 billion, largely influenced by a 7% decline in Financial Services revenues, while industrial revenues remained relatively flat. The company's performance was bolstered by a substantial reduction in GE Capital's losses, which decreased by 95% due to cost-saving measures associated with the GE Capital Exit Plan. This significantly boosted overall consolidated earnings, which increased by $0.6 billion. GE continued to execute its portfolio transformation, announcing or completing several key transactions, including the acquisition of ServiceMax and LM Wind Power, and agreeing to combine its Oil & Gas business with Baker Hughes and sell its Water & Process Technologies business. The company highlighted positive performance in several industrial segments, notably Power and Aviation, which showed revenue and profit increases. However, the Oil & Gas segment experienced revenue and profit declines due to unfavorable market conditions. GE is actively managing its cost structure and undertaking restructuring actions across various segments to improve efficiency. The report also detailed GE Capital's ongoing efforts to shrink its balance sheet and reduce debt, with plans to issue new long-term debt to refinance existing obligations and fund strategic transactions. Liquidity remained strong, with significant cash reserves and committed credit lines available.

    May 5, 2017
  31. 2016-Q3-A

    GENERAL ELECTRIC CO Quarterly Report (Amendment) for Q3 Ended Sep 30, 2016

    This Form 10-Q/A filing for General Electric Company (GE) for the period ending September 30, 2016, primarily serves to correct an omission in the original filing concerning guarantor financial information. The company's financial performance shows a significant reduction in GE Capital's assets and liabilities, largely due to the ongoing GE Capital Exit Plan. Consolidated revenues increased year-over-year, driven by strong performance in the Power and Aviation segments, while the Oil & Gas segment experienced a notable decline. The company continued its strategic focus on divesting non-core financial assets and investing in its industrial businesses, including the announced combination of its Oil & Gas business with Baker Hughes and the acquisition of LM Wind Power. Shareholder returns remained a priority, with substantial amounts returned through share repurchases and dividends.

    Nov 9, 2016
  32. 2016-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2016

    General Electric (GE) reported its third-quarter 2016 results, showcasing continued progress in its strategic transformation, particularly with the GE Capital Exit Plan. The company's industrial businesses demonstrated resilience, with revenue growth in key segments like Power and Aviation. Significant strategic moves during the quarter included the announcement of the combination of GE's Oil & Gas business with Baker Hughes and the acquisition of LM Wind Power, signaling a continued focus on industrial growth and digital transformation. The financial services segment, GE Capital, continued its planned reduction, significantly decreasing its total assets and moving closer to completing its exit plan. This strategic divestment is a major focus for investors, aiming to streamline the business and improve financial flexibility. While the industrial segments showed positive top-line performance, the overall company performance was influenced by ongoing restructuring charges and the impact of the Alstom acquisition, which is still being integrated. Investors should monitor the successful execution of the Baker Hughes transaction and the ongoing integration of Alstom for future performance.

    Nov 2, 2016
  33. 2016-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2016

    General Electric Company (GE) reported its second-quarter 2016 results, showcasing significant progress in its strategic transformation. The company is actively divesting the majority of GE Capital's assets, a plan that is ahead of schedule and aimed at creating a simpler, more focused industrial company. This strategic shift is a key theme throughout the report, with substantial progress made in reducing the size of the financial services business. Despite ongoing restructuring charges and the impact of integrating the Alstom acquisition, GE's industrial segments demonstrated resilience, with notable revenue growth in Power, Renewable Energy, and Energy Connections. The company returned significant capital to shareholders through buybacks and dividends, underscoring its commitment to shareholder value while navigating a complex operational landscape. The financial performance for the quarter was bolstered by a substantial after-tax gain from the sale of the Appliances business. However, the financial services segment (GE Capital) continued to report losses, albeit with a significant year-over-year improvement due to the absence of prior year charges associated with the exit plan. Investors should note the substantial progress in reducing GE Capital's ending net investment and the successful rescission of GE Capital's designation as a Systemically Important Financial Institution (SIFI), which reduces regulatory oversight.

    Aug 1, 2016
  34. 2016-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2016

    General Electric Company (GE) reported its first quarter 2016 results, highlighting significant progress on its GE Capital Exit Plan. The company substantially reduced the size of its financial services business, with assets decreasing from $501 billion at the end of 2014 to $281 billion by March 31, 2016. This strategic shift is aimed at transforming GE into a simpler, more valuable industrial-focused company. The industrial segments showed mixed performance, with revenue growth driven by acquisitions like Alstom, but also impacted by foreign currency headwinds. The company also returned substantial capital to shareholders through dividends and share repurchases.

    May 4, 2016
  35. 2015-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2015

    General Electric (GE) reported its third-quarter 2015 results, highlighting significant progress on its strategic shift towards industrial businesses and away from its financial services arm, GE Capital. The company continued to divest assets from GE Capital as part of its announced exit plan, which is expected to be completed over the next 24 months. This strategic repositioning led to substantial after-tax charges in the period, primarily related to business dispositions, tax impacts from repatriating foreign earnings, and asset impairments. Despite these charges and the ongoing restructuring, GE's industrial segments showed resilience, with revenue and profit growth in several key areas like Aviation and Power & Water. The company also returned value to shareholders through dividends. Looking ahead, GE is focused on completing the GE Capital divestitures, integrating acquisitions, and driving growth in its core industrial operations. Investors should closely monitor the execution of the GE Capital Exit Plan, the impact of associated charges on near-term earnings, and the performance of the industrial segments as the company transitions to a more focused industrial portfolio. The exchange offer for Synchrony Financial is also a key development to watch, as it will reduce the number of outstanding GE shares.

    Nov 2, 2015
  36. 2015-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2015

    General Electric Company reported a net loss of $1.36 billion for the second quarter of 2015, a significant decline from the $3.55 billion profit in the same period last year. This downturn was primarily driven by substantial after-tax charges totaling $4.58 billion related to the announced GE Capital Exit Plan, which significantly impacted the Financial Services segment. The industrial segments, however, showed resilience, with combined industrial segment profit increasing by 5% year-over-year, driven by strong performance in Power & Water, Aviation, and Transportation. Despite the overall net loss, the industrial businesses demonstrated positive operational momentum. Revenues from industrial segments remained flat overall, but this was largely due to unfavorable foreign currency impacts of $1.3 billion, with organic growth offsetting this. The company is actively divesting a large portion of its GE Capital assets, as planned, which is creating significant one-time charges but is intended to streamline operations and focus on industrial growth. Investors should closely monitor the execution of the GE Capital Exit Plan and its impact on future earnings and the company's financial structure.

    Jul 30, 2015
  37. 2015-Q1-A

    GENERAL ELECTRIC CO Quarterly Report (Amendment) for Q1 Ended Mar 31, 2015

    This 10-Q filing from General Electric (GE) for the period ending March 30, 2015, primarily serves as an amendment to previous filings and includes essential certifications from company officers. While this specific filing does not contain detailed financial performance data or operational updates typical of a standard 10-Q, investors should note the supplementary pension plan amendment, which could have implications for the company's long-term liabilities and employee compensation structures. The inclusion of certifications under Rule 13a-14(a) or 15d-14(a) reinforces the company's commitment to corporate governance and financial reporting accuracy, assuring investors that the management is attesting to the integrity of the financial statements and disclosures.

    May 15, 2015
  38. 2015-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2015

    General Electric (GE) reported a significant shift in its financial strategy during the first quarter of 2015, marked by the announcement of its plan to "exit" most of its financial services business, GE Capital. This strategic pivot aims to refocus the company on its core industrial operations. The company incurred substantial charges in Q1 2015 related to this exit plan, impacting overall profitability. Despite a notable decline in revenues and earnings, particularly within the GE Capital segment, the industrial segments showed resilience, with Power & Water, Aviation, Healthcare, Transportation, and Appliances & Lighting all reporting increased segment profit or revenue, driven by factors like higher volume, improved productivity, and favorable business mix. Investors should note the substantial charges ($16.1 billion after-tax) recognized in Q1 2015 stemming from the GE Capital Exit Plan, which significantly weighed down net earnings. While the industrial businesses demonstrated positive trends in profitability and some revenue growth, the overarching story of this quarter is the aggressive deleveraging and restructuring of GE Capital. The company also provided a full guarantee for GE Capital's debt, a move designed to reassure bondholders during the transition.

    May 4, 2015
  39. 2014-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Nov 3, 2014

    General Electric (GE) reported solid performance for the third quarter of 2014, with a notable increase in net earnings attributable to the Company, up 11% year-over-year to $3.54 billion. Diluted EPS also saw a healthy increase, reaching $0.35, up from $0.31 in the prior year's quarter. The industrial segments collectively demonstrated strength, with revenues up 3% and segment profit increasing by 9%, driven by robust performance in Aviation, Oil & Gas, and Healthcare. GE Capital's performance showed a decline in segment profit, down 22%, reflecting ongoing efforts to reduce its balance sheet size and focus on core businesses. Key strategic developments during the quarter included progress on the planned exit of the Appliances business and continued efforts to divest non-core assets within GE Capital, demonstrating a commitment to portfolio optimization.

    Nov 4, 2014
  40. 2014-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Jul 31, 2014

    General Electric's Q2 2014 10-Q shows a mixed quarter. Consolidated revenues and other income rose 3% to $36.2 billion, and GAAP diluted EPS from continuing operations increased 13% to $0.35 (from $0.31). Net earnings attributable to the Company were $3.5 billion, up 13%. However, the year-to-date picture is weaker: six-month earnings from continuing operations attributable to the Company fell 5% to $6.6 billion, largely because the first-quarter 2013 gain on the sale of the remaining NBCU LLC stake (about $1.4 billion of earnings) did not recur. Industrial segment profit grew 9% in the quarter and 10% year-to-date, driven by Oil & Gas, Aviation, Power & Water and Energy Management, while Industrial segment revenues rose 7% in the quarter. GE Capital continues to shrink as management executes its strategy of reducing ENI (excluding cash) to a $300-350 billion target; ENI stood at $371 billion at June 30, 2014. GE Capital segment earnings fell 5% in the quarter and 2% year-to-date, and GECC total assets declined to $509.6 billion from $516.8 billion at year-end 2013. Credit quality metrics were broadly stable: nonaccrual receivables were $7.1 billion (2.9% of financing receivables, down from 3.1%), and the allowance for losses held at $5.2 billion (2.1% of receivables). Consolidated cash was $86.6 billion, and the company remains focused on portfolio pruning and deploying capital into industrial acquisitions, including the pending $13.5 billion Alstom Thermal, Renewables and Grid deal, which is targeted to close in 2015. Investors should also note the planned Synchrony Financial IPO (priced July 30, 2014 at $23.00 per share) and the WMC legacy mortgage repurchase litigation, with a reasonably possible additional loss of up to about $500 million over the existing reserve.

    Jul 31, 2014
  41. 2014-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended May 9, 2014

    General Electric's first-quarter 2014 Form 10-Q (quarter ended March 31, 2014) shows a company in transition: consolidated revenues fell 2% to $34.2 billion and earnings from continuing operations attributable to the Company declined 18% to $2.99 billion, largely because the prior-year quarter included roughly $1.4 billion of after-tax gains from the sale of GE's remaining 49% stake in NBCUniversal. Diluted EPS from continuing operations was $0.29 versus $0.35, and operating EPS (non-GAAP) was $0.33 versus $0.39. Within the industrial businesses, segment revenues rose 8% and segment profit rose 12%, led by Oil & Gas, Power & Water and Aviation, while Healthcare, Transportation and Appliances & Lighting were weaker. GE Capital revenues fell 8% and net earnings were flat at $1.9 billion, as the company continues shrinking GE Capital's ending net investment toward a $300–350 billion target from $374 billion. Liquidity and balance sheet remained strong. Consolidated cash was $87.0 billion, with $11.7 billion at GE and $75.3 billion at GECC, and total assets were $652 billion. Industrial cash from operations rose to $1.7 billion from $0.2 billion, helped by $0.5 billion of GECC dividends, while GE completed $3.0 billion of senior unsecured debt issuance and spent $1.4 billion on acquisitions, including API Healthcare and the Thermo Fisher life-sciences businesses (Hyclone). Shareowner returns continued with $2.2 billion in dividends and $1.3 billion in share repurchases in the quarter. Risk items include WMC legacy mortgage repurchase exposure, with $11.5 billion of claims, a $550 million reserve, and a reasonably possible additional loss of up to $500 million, plus 14 pending lawsuits. Credit quality in GE Capital was stable to improving, with nonaccrual receivables steady at $7.9 billion (3.1% of financing receivables) and the allowance for losses at $5.1 billion (2.0%). Subsequent to quarter end, GE submitted a binding offer of $13.5 billion, net of $3.4 billion assumed cash, for Alstom's Thermal, Renewables and Grid businesses, and it announced a planned staged exit from North American Retail Finance through the Synchrony Financial IPO.

    May 12, 2014
  42. 2013-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2013

    General Electric's Q3 2013 10-Q shows a mixed quarter. Consolidated revenues fell 1% to $35.7 billion, and earnings from continuing operations attributable to the Company declined 5% to $3.27 billion, with EPS from continuing operations down 3% to $0.32. Net earnings attributable to the Company fell 9% to $3.19 billion (EPS $0.31), weighed down by a $0.1 billion loss from discontinued operations, mainly GE Money Japan reserve increases. Operating EPS (non-GAAP) was flat at $0.36. For the nine months, EPS from continuing operations was flat at $0.98, operating EPS rose 4% to $1.11, and net earnings attributable to the Company rose 2% to $9.85 billion. The industrial business shows a split picture. Industrial sales rose 2% in the quarter, aided by the Avio and Lufkin acquisitions, but Power & Water revenue fell 10% and segment profit at that unit fell with it. For the nine months, Power & Water revenue dropped 17% on lower Wind and Thermal equipment volume. Aviation (+12% revenue in Q3) and Oil & Gas (+18%) were the main growth engines. GE industrial cash from operations fell to $7.8 billion from $10.7 billion, reflecting a lower GECC dividend and NBCU-related tax payments. GE Capital continues to shrink as management executes its plan to reduce ending net investment (ENI) toward $300–350 billion; ENI was $385 billion at quarter-end. Financial Services revenue fell 5% in Q3 and total assets fell $18.6 billion year to date. Credit metrics improved in several areas, with lower Q3 provisions, but the nine-month provision rose to $3.3 billion from $2.7 billion, driven by a more granular loss-reserving approach for U.S. consumer revolving credit. Key contingent exposures include WMC mortgage repurchase claims (pending claims $6.3 billion, reserve $800 million, plus $5.7 billion of litigation claims with no reserve) and GE Money Japan excess-interest refund claims (reserve $527 million).

    Nov 1, 2013
  43. 2013-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2013

    General Electric's Q2 2013 10-Q shows consolidated revenues of $35.1 billion for the quarter, down 4% from $36.4 billion a year earlier, and net earnings attributable to the Company of $3.133 billion (EPS $0.30), up 1% from $3.105 billion. Earnings from continuing operations attributable to the Company fell 11% to $3.255 billion, so the reported net earnings gain depends on a much smaller discontinued-operations loss of $122 million versus $553 million in Q2 2012. Industrial sales fell 2% to $24.6 billion, GE Capital revenues fell 3% to $11.0 billion, and GE Capital segment profit dropped 9% to $1.9 billion, weighed down by higher impairments and loan-loss provisions. For the six months, net earnings attributable to the Company rose 8% to $6.660 billion and EPS rose 10% to $0.64, aided by the roughly $16.7 billion sale of GE's remaining 49% stake in NBCUniversal to Comcast in March 2013 and a $0.9 billion pre-tax gain on the Rockefeller Center floors. Continuing-operations EPS was essentially flat in dollar terms at $0.66, and industrial sales fell 4%. Consolidated cash rose $11.3 billion to $88.7 billion, and total assets shrank to $660.5 billion as GE Capital continued reducing its balance sheet. Key investor watch items include the $0.3 billion-plus drag from GE Capital credit provisions, WMC mortgage repurchase exposure (pending claims of $6.3 billion with reserves of $787 million), GECC's designation as a nonbank systemically important financial institution on July 8, 2013, and the expected loss of tax benefits from the U.S. active financial services deferral after 2014.

    Jul 26, 2013
  44. 2013-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2013

    General Electric's first-quarter 2013 10-Q shows consolidated revenues flat at $35.0 billion (vs. $35.1 billion) and earnings from continuing operations attributable to the Company up 13% to $3.636 billion, with diluted EPS from continuing operations up 17% to $0.35. Net earnings attributable to GE common shareowners rose 16% to $3.527 billion ($0.34 per share), though this was helped by a $1.1 billion pre-tax gain on the sale of GE's remaining 49% stake in NBCUniversal LLC to Comcast, which closed March 19, 2013. Excluding the NBCU sale and related items, the underlying picture is weaker: Industrial sales fell 6% to $22.3 billion, with Power & Water revenue down 26% on lower Thermal and Wind equipment volume and segment profit down 39%. Financial Services (GE Capital) revenues rose 2% to $11.5 billion, and segment profit rose 9% to $1.9 billion, but this was partly supported by a $0.9 billion pre-tax gain on the Rockefeller Center real estate sale, while CLL and Consumer earnings declined sharply. Balance sheet and liquidity improved notably. Consolidated cash rose $12.4 billion to $89.8 billion, GE repaid $5.0 billion of senior notes, and GE Capital continued shrinking its ending net investment to $402 billion, with total GECC borrowings down about $10.5 billion. Credit metrics were mixed: nonearning financing receivables fell to $7.1 billion, but the allowance for losses rose to $5.4 billion (2.0% of receivables) on higher Consumer provisions, which were partly driven by a methodology change. Consolidated operating cash flow fell to $4.6 billion from $6.5 billion, with GE industrial cash from operations down to just $0.2 billion. GE also increased its share repurchase authorization by $10 billion to $35 billion through 2015. Key risks include a $6.2 billion pending WMC mortgage repurchase claim pool, with $740 million of reserves and about $5.6 billion of litigation claims excluded from reserves, a $0.5 billion-plus unrealized loss position in investment securities, $0.3 billion of OTTI impairments, and the potential designation of GECC as a nonbank systemically important financial institution. Management also flags that GE's low effective tax rate (12.3%) depends on the expiring U.S. deferral of active financial services income.

    May 8, 2013
  45. 2012-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2012

    General Electric's Q3 2012 10-Q shows a quarter that was broadly stronger on the industrial side and mixed at GE Capital. Consolidated revenues rose 3% to $36.3 billion and earnings from continuing operations attributable to the Company rose 5% to $3.454 billion. Diluted EPS from continuing operations was $0.33, up 43% from $0.23, though part of that jump reflects the absence of the $881 million preferred stock dividend in the 2011 quarter. Net earnings attributable to GE common shareowners were $3.491 billion, or $0.33 per share. For the nine months, revenues fell 1% to $108.0 billion, largely because 2011 included the NBCU transaction gain, while earnings from continuing operations rose 1% to $10.4 billion and EPS from continuing operations reached $0.98. Industrial sales grew 8% in the nine months, led by Energy Infrastructure, and Real Estate's impairments fell sharply. Financial Services (GECC) continues to shrink as planned. Its assets fell to $561.6 billion from $584.5 billion at year-end 2011, and financing receivables declined to $271.6 billion. Total GECC borrowings dropped by about $28.4 billion in the nine months, and the allowance for losses fell to $5.4 billion from $6.2 billion. Credit metrics improved overall, with nonearning receivables down to $8.3 billion, but the company flagged ongoing risks: WMC repurchase exposure (pending claims of $4.1 billion, reserves of $608 million), excess interest refund claims at GE Money Japan (reserve of $578 million after $344 million of increases), and a Moody's downgrade of GECC to A1 that triggered GIC redemptions. For investors, the key takeaways are the strength of the industrial franchise and cash generation at GE (GE CFOA of $10.7 billion, boosted by $5.4 billion of GECC dividends), the continued deleveraging of GE Capital, and the legacy liabilities and credit-rating sensitivity that remain in the financial services business. Total consolidated equity rose to $128.0 billion, including $4.0 billion of new GECC preferred stock that is classified as noncontrolling interest.

    Nov 7, 2012
  46. 2012-Q2

    GENERAL ELECTRIC CO Quarterly Report for Q2 Ended Jun 30, 2012

    General Electric's 10-Q for the quarter ended June 30, 2012 shows a mixed picture: industrial earnings and revenue momentum offset by a sharp drop in reported net earnings driven by discontinued operations. Second-quarter earnings from continuing operations attributable to the Company rose 2% to $3.658 billion ($0.34 per diluted share), and operating earnings (a non-GAAP measure excluding non-operating pension costs) rose 7% to $4.010 billion. However, net earnings attributable to GE common shareowners fell 16% to $3.105 billion ($0.29 per share), as discontinued operations swung to a $553 million loss, mainly from reserve increases tied to GE Money Japan excess interest refund claims and WMC mortgage repurchase obligations. Consolidated revenues were $36.5 billion, up 2%, with Industrial segment sales up 9% to $25.0 billion, while GE Capital revenues fell 8% to $11.5 billion as its asset base shrinks. GE Capital continues to shrink under management's deleveraging plan: total Financial Services assets fell $25.7 billion in the first half to $558.8 billion, and GECC's net financing receivables declined to $274.0 billion. Nevertheless, GE Capital segment profit rose 31% in the quarter to $2.1 billion on lower impairments and lower loan loss provisions, and GECC resumed paying dividends to GE ($0.5 billion regular plus a $2.5 billion special dividend in Q2). Consolidated cash and equivalents declined to $74.3 billion, and the allowance for losses on financing receivables fell to 1.9% of total financing receivables from 2.1% at year-end 2011, reflecting improved credit quality. Key risk items for investors include WMC's pending repurchase claims, which rose to $2.7 billion, with a $351 million reserve increase in the quarter; the Moody's downgrade of GECC's long-term rating to A1 on April 3, 2012, which triggered redemption rights on certain guaranteed investment contracts; and the GE Money Japan claims reserve, which rose by $336 million in the first half. Management reports no significant change to market risk since year-end 2011 and concluded that disclosure controls were effective.

    Jul 30, 2012
  47. 2012-Q1-A2

    GENERAL ELECTRIC CO Quarterly Report (Amendment) for Q1 Ended Mar 31, 2012

    General Electric's Form 10-Q/A (Amendment No. 2) for the quarter ended March 31, 2012 adds Exhibits 31(a) and 31(b) (SOX certifications) and reissues Exhibit 99(a), the non-GAAP reconciliation that was truncated in the original May 4, 2012 filing. It does not restate the quarter's financial statements or update other disclosures, so the investor-relevant content is the non-GAAP reconciliation itself, not a full set of financials. On a GAAP basis, earnings from continuing operations attributable to GE fell 4% to $3,251 million, and continuing EPS was flat at $0.31. Operating earnings, which exclude non-service pension costs, rose 1% to $3,587 million, and operating EPS rose 3% to $0.34 from $0.33. The gap between GAAP and operating results widened because non-operating pension costs, net of tax, were $336 million versus $163 million a year earlier. Consolidated revenues and other income declined 8% to $35,182 million, but excluding the effect of NBCU, which was transferred to a joint venture in 2011, revenues grew 4% to $34,995 million. GE Capital, the financial services segment, showed segment profit of $1,792 million, flat year over year. Excluding the prior-year Garanti Bank gain and related operations, segment profit grew 27%. GE Capital ending net investment excluding cash stood at $435.8 billion at March 31, 2012, down from $512.8 billion at January 1, 2009, which is the baseline management uses to track progress toward shrinking the financial services business.

    May 23, 2012
  48. 2012-Q1-A

    GENERAL ELECTRIC CO Quarterly Report (Amendment) for Q1 Ended Mar 31, 2012

    This Form 10-Q/A (Amendment No. 1) for GE's quarter ended March 31, 2012 was filed solely to replace Exhibit 99(a), the non-GAAP reconciliation exhibit. The original exhibit, filed May 4, 2012, was truncated by a technical error and omitted its last two pages. The amendment does not change any other part of the 10-Q or update disclosures for later events, so it contains no full GAAP financial statements. The information below comes only from the corrected non-GAAP exhibit and should be read alongside the original 10-Q. On a GAAP basis, earnings from continuing operations attributable to GE fell 4% to $3,251 million, and diluted continuing EPS was flat at $0.31. Operating earnings, which exclude non-service pension costs, rose 1% to $3,587 million, and operating EPS increased 3% to $0.34. Consolidated revenues and other income declined 8% to $35,182 million, largely because of the prior-year NBCU transaction. Excluding NBCU, revenues grew 4% to $34,995 million. GE Capital segment profit was flat at $1,792 million. Excluding the 2011 Garanti gain and operations, segment profit rose 27%. For investors, the main points are that the reported GAAP earnings decline was driven by higher non-operating pension costs, that underlying revenue growth was positive once NBCU is excluded, and that GE Capital's ending net investment (ex-cash) fell to $435.8 billion, continuing the planned shrinkage of the financial services segment.

    May 9, 2012
  49. 2012-Q1

    GENERAL ELECTRIC CO Quarterly Report for Q1 Ended Mar 31, 2012

    General Electric's first-quarter 2012 Form 10-Q shows consolidated revenues and other income of $35.2 billion, down 8% from $38.3 billion a year earlier. The decline reflects the absence of the 2011 NBCU gain, lower GE Capital revenues and the stronger U.S. dollar, partly offset by organic industrial growth. Earnings from continuing operations attributable to the Company fell 4% to $3.251 billion, while net earnings attributable to GE common shareowners fell 10% to $3.034 billion, or $0.29 per diluted share, after a $217 million loss from discontinued operations (mainly the Consumer Ireland disposal). Excluding discontinued operations, EPS from continuing operations was flat at $0.31. Operating EPS, a non-GAAP measure, rose 3% to $0.34. The industrial businesses performed better. Industrial segment revenues rose 14% to $23.7 billion, driven by Energy Infrastructure (up 18%) and Aviation, and industrial segment profit increased about 10%. GE Capital revenues fell 12% to $11.4 billion as the Garanti gain did not recur and ENI shrank, though GECC net earnings were flat at $1.79 billion. Total GECC financing receivables declined to $281.4 billion net, and the allowance for losses fell to $5.7 billion, with provisions well below write-offs, which points to improving credit quality. GECC total borrowings and bank deposits dropped to $431.9 billion from $443.1 billion, reflecting the planned balance sheet shrinkage. Investors should note several risks disclosed in the filing. Moody's downgraded GECC's senior unsecured rating by two notches to A1 on April 3, 2012, which triggered GIC redemptions of $2.1 billion on May 1, 2012, with a further $0.8 billion of GIC redemption periods pending. Management says the downgrade has no material operational or funding impact and that the total cash and collateral effect of affected contracts is under $0.6 billion. Other exposures include the WMC repurchase claims, the Japanese excess interest refund reserve of $496 million, European exposures of $91 billion, and a pending FRB review of the GECC dividend.

    May 4, 2012
  50. 2011-Q3

    GENERAL ELECTRIC CO Quarterly Report for Q3 Ended Sep 30, 2011

    General Electric Company (GE) reported its third-quarter and year-to-date results for 2011. The company demonstrated solid year-over-year growth in net earnings attributable to common shareholders, increasing by 36% for the nine-month period. Total revenues remained relatively flat year-over-year for the third quarter but showed a 1% increase for the nine-month period, driven by organic growth, a weaker U.S. dollar, and strategic acquisitions, partially offset by dispositions. The industrial segments, particularly Energy Infrastructure, Aviation, Healthcare, and Transportation, showed revenue growth, with Energy Infrastructure benefiting significantly from acquisitions. GE Capital also reported revenue growth, driven by stronger gains and a weaker dollar, with improved net earnings due to lower loss provisions. The company successfully reduced its GE Capital ending net investment and completed the redemption of its preferred stock held by Berkshire Hathaway. The company is actively managing its financial services portfolio, with a decrease in total borrowings and financing receivables. GE's overall financial position appears stable, with a continued focus on liquidity management and strategic capital allocation. The company also addressed operational changes, including segment realignments and changes in pension plan cost allocation. Despite a challenging economic environment, GE's diversified business model and strategic initiatives appear to be yielding positive results in terms of profitability and financial stability.

    Nov 8, 2011