Here's how the company's results compared with analyst expectations: GE's stronger-than-forecast revenues were mainly driven by sales in the power and renewable energy divisions. "Our earnings performance was impacted by the ongoing impact of COVID-19 on our businesses, but Industrial free cash flow was better than our expectations and previously communicated range," CEO Larry Culp said in a statement. We are accelerating our transformation to make GE stronger and drive long-term, profitable growth." Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. GE shares have taken a big hit this year, dropping more than 38% as the coronavirus pandemic shut down the economy and slowed air travel to a crawl. General Electric on Wednesday reported a revenue figure for the second quarter that slightly beat analyst expectations. Total revenues (GAAP) $19.4B, (17)%; Industrial organic revenues* $17.9B, (12)%. We expect to return to positive Industrial free cash flow in 2021. Total orders $13.8B, (38)%; organic orders (35)%, Total revenues (GAAP) $17.7B, (24)%; Industrial organic revenues* $16.3B, (20)%, Industrial profit margin (GAAP) of (5.7)%, (390) bps; adjusted Industrial profit margin* (3.2)%, (1,170) bps, Continuing Earnings Per Share (EPS) (GAAP) of $(0.27), including non-cash goodwill and other charges and the impact of marking GE's investment in Baker Hughes to market; adjusted EPS* $(0.15), GE Cash Flow From Operating Activities (GAAP) $(1.6)B; Industrial free cash flow* $(2.1)B. Shares are up 44.9% since reporting last quarter. We remain committed to improving our balance sheet. Offering a suite of products to help unlock the full potential of additive manufacturing. For this quarter, we thought it would be helpful to point out a handful of key disclosures/process improvements: As Larry said today, "We're working through a still-difficult COVID-19 environment, and while it's too early to predict the trajectory for the recovery of commercial aviation, we continue to plan for a prolonged return to prior levels of activity. In Aviation and GECAS specifically, it’s no surprise that we’ve seen a steep decline in commercial demand due to COVID-19. Important information about our forward-looking statements. General Electric (GE) Q2 2020 Earnings Call Transcript GE earnings call for the period ending June 30, 2020. Get the detailed quarterly/annual income statement for General Electric Company (GE). General Electric (GE) reports earnings on 1/27/2021. In addition, as Larry highlights in the press release, we expect to return to positive free cash flow in 2021. On an adjusted per-share basis, the … These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. Building momentum amidst still-difficult environment. 2:08 GE Sees 10%-20% Annual Revenue Growth in Latin America Through 2020 By Jeffrey T. Lewis SAO PAULO—U.S. GE released its second quarter 2020 results today, and I encourage you to read the full materials and listen to our earnings call at 8:00 AM ET. Total revenues (GAAP) $17.7B, (24)%; Industrial organic revenues* $16.3B, (20)%. Access the latest press releases, media contacts, and press tools. GE Aviation is a world-leading provider of aircraft engines, systems and avionics. And in Power and Renewable Energy, some outages shifted to the right and field mobility constraints impacted projects. We’re deeply proud of GE employees around the world rising to the challenge. However, the industrial giant's bottom line took a bigger-than-expected hit as the company tries to weather the coronavirus pandemic. According to GE's 2018 10-K, the company saw net earnings of -$22.8 billion in 2018. Based on the number of new installations, the company became the top manufacturer of wind turbines in the United States in 2018. (GE) Do the numbers hold clues to what lies ahead for the stock? Our earnings performance was impacted by the ongoing impact of COVID-19 on our businesses, but Industrial free cash flow was better than our expectations and previously communicated range. Access important shareholder information. GE will also have the emerging markets of Asia and Africa in their sights. Revenue: $17.7 billion vs $17.12 billion forecast; Loss per share: 15 cents per share vs a loss of 10 cents per share expected by a Refinitiv survey of analysts Revenue from aviation disappointed, totaling $4.38 billion. ... we saw revenue down 20% organically due to lower volume across all businesses. This compares to earnings of $0.22 per share a year ago. I hope you and your families remain safe and healthy. GE posted total revenue of $20.524 billion, which represents a year-over-year decline of 8%. During the second quarter, GE reduced near-term liquidity needs by $10.5 billion through a series of GE and GE Capital debt offerings and repayments that GE expects to be leverage neutral by the end of 2021. MONTHLY GROSS REVENUE REPORT FOR THE MONTH OF OCTOBER, 2020 Year-to-Date Table and Other Games and Poker Win ..... Year-to-Date Slot Machine Win ..... NIEL CAFONE OPERATIONS CONTROLLER (1861-11) TITLE (LICENSE NUMBER) Got a confidential news tip? GE ANNOUNCES THIRD QUARTER 2020 RESULTS. Still, based on what we see today and the actions we've taken, sequential improvement in earnings and cash in the second half of the year is achievable. Sign up for free newsletters and get more CNBC delivered to your inbox. Access GE’s recent and historic Annual Reports and accompanying materials. GE Sees Digital Revenue More Than Doubling To $15 Billion By 2020 As GE reinvents itself as a digital industrial company, it is targeting the industrial internet. The commercial engine business accounts for the vast majority of GE Aviation's revenue: $24.2 billion in 2019. Answers to popular and relevant inquiries. The revenue cycle management market is estimated to grow at a CAGR of 12.9% in the forecasting period, from a base value of $71.11 billion in 2020 to $147.27 billion in 2026. Looking forward, we expect earnings and cash to improve in the second half of 2020 as end markets stabilize, our cost and cash actions take hold and decrementals improve. Induction Lamps Market 2020, Share, Size, Research Report, Growth Trends, Revenue, Segmentation | Companies like GE Lighting, Philips Lumec, Mahindra Hinoday, ItalTesla, Neptun Light. As we indicated to all of you during the last earnings call and investor conferences, 2Q’20 was indeed a challenging quarter, hitting our shorter cycle, more profitable businesses the hardest. In Healthcare, demand for COVID-19 related products remained elevated in 2Q’20, but we saw pressure on our Pharmaceutical Diagnostics business. GE's Revenue . Agenda.ge, 2 Oct 2020 - 13:24, Tbilisi,Georgia Georgia expects 10.5 million international visitors in 2024 and $6 billion in earnings from the tourism sector in 2024, said Head of the Georgian Tourism Administration Mariam Kvrivishvili. We’re continuing to do all we can to support our customers and employees during this unprecedented time. *Non-GAAP Financial measures GE released its second quarter 2020 results today, and I encourage you to read the full materials and listen to our earnings call at 8:00 AM ET. General Electric Company Common Stock (GE) Revenue EPS : Previous 3 Years Next 3 Years. GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GEs Facebook page and Twitter accounts, contain a significant amount of information about GE, including financial and other information for investors. GE Healthcare, which has about 6,000 employees in metro Milwaukee, continues to be a bright spot for General Electric Co. with GE CEO Larry Culp saying the unit has opportunities to grow. Learn how we’re delivering on our priorities. GE releases its 2Q 2020 Results. The revenue cycle management market is estimated to grow at a CAGR of 12.9% in the forecasting period, from a base value of $71.11 billion in 2020 to $147.27 billion in 2026. Discover how our people & technology are solving global issues, improving lives, and changing industries. I hope you and your families remain safe and healthy. We made faster progress on elements within our control, including our targeted cost and cash preservation actions." October 28, 2020. The company said it continued working toward cost reductions of more than $2 billion and its "near-term liquidity needs" were reduced by $10.5 billion in the second quarter. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. GE | Complete General Electric Co. stock news by MarketWatch. © 2020 CNBC LLC. Total gaming taxes reflect 8% of taxable casino gross revenue, 15% of Internet gaming gross revenue, 8.5% tax on casino and racetrack sports wagering gross revenue and 13% tax on casino and racetrack sports wagering Internet gross revenue. In 2019, GE … GES and Tableau were recently recognized with a prestigious Corporate Event Award AND a six page article in EXHIBITOR magazine. That said, we’re seeing some early signs of improvement in our end markets and businesses with GE/CFM departures now down less than (50)% below our January baseline, Healthcare scans recovering to near our 4Q baseline in July, and accelerated cost out measures executed in Power and Renewable Energy. GE's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. GE also issued “$6 billion of debt to repay $4.2 billion of debt maturing between 2020 and 2024,” according to Barron’s. Healthcare revenue fell 21% to $3.9 billion. As part of our efforts to mitigate the financial impact of COVID-19, we made progress on the $2B+ of cost actions and $3B+ of cash actions targeted for 2020, completing more than a third to date. Our technology, global network, and exceptional team is fueled by a mission—building a world that works. A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint. "We made faster progress on elements within our control, including our targeted cost and cash preservation actions.". This was primarily due to working capital improvement with better than expected collections across all businesses. Explore a career with us. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in our quarterly report on Form 10-Q and the GE earnings supplemental information package posted to the investor relations section of our website at www.ge.com, as applicable. GE Healthcare revenue declined to $3.9 billion from $4.9 billion. Furthermore, we are launching a program to fully monetize our Baker Hughes position over approximately three years. This intelligent study provides historical data from 2015 alongside a forecast from 2020 to 2025. Voices is a network for GE’s US supporters interested in the company’s impact in their communities and in issues that impact the company. A Division of NBCUniversal. General Electric gross profit for the twelve months ending September 30, … For the nine months ended September 30, 2020, Consolidated revenues were down $11.3 billion, driven by decreased GE Industrial revenues of $10.4 billion and decreased GE Capital revenues of $1.2 billion. GE Industrial revenues decreased $10.4 billion (16%), with decreases in services and equipment. Revenue:  $17.7 billion vs $17.12 billion forecast, Loss per share: 15 cents per share vs a loss of 10 cents per share expected by a Refinitiv survey of analysts. Creating the energy technologies of the future and improving the power networks that we depend on today. We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better. In this document, we sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). GE (GE) delivered earnings and revenue surprises of -7.14% and 4.34%, respectively, for the quarter ended June 2020. All Rights Reserved. Revenue fell 17% to $19.42 billion, but was above the FactSet consensus of $18.73 billion. Year to date, GE has reduced debt by $9.1 billion—including $7.8 billion in GE Industrial net debt* and $1.3 billion in GE Capital debt—and by approximately $22 billion since the beginning of 2019. Together with our customers, we’re proving that no one is ever limited to only affordable, reliable, or sustainable energy. At GE, we rise to the challenge of building a world that works. Guess (GES) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.06 per share. GE shares were down 4% in midmorning trading. GE's revenue from its Renewable Energy division grew by 4% in 2018. Global Reverse Flame Steam Boiler Market Revenue 2020: Atlantic Boilers, ATTSU, BoilerTech Pty, Byworth Boilers; Global Biological Fermentor Market Revenue 2020: Eppendorf, GE Healthcare, MS, INFORS, Sartorius AG; Global Electric Traction System Market Revenue 2020: ABB, Alstom, Siemens, Voith GmbH, Koncar, … Explore a timeline of GE technologies that have spurred transformation across the world. Read the latest GE financial news releases and stories. GES holiday projects Christmas in the Wizarding World and Santa’s Toy Factory, each win Silvers at the 2018 U.S. MAXI Awards at ICSC’s RECon. GE Revenue as of today (December 06, 2020) is $83,928 Mil. We want to hear from you. Get this delivered to your inbox, and more info about our products and services. Steve Of note, while earnings was negative $(0.15) and Industrial free cash flow was negative at $(2.1)B, our Industrial free cash flow came in almost $2B better than the midpoint of the guide we provided at a conference in May. We appreciate your continued interest in GE, and please take care. —CNBC's Michael Bloom contributed to this report. For the last 18 months, we have introduced and carried over some enhanced disclosures in the 10-K/Q. In all, the teams across GE met this quarter head-on with improving operational execution and further de-risking actions. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. In depth view into General Electric Co Revenue explanation, … We build intelligent devices, data analytics, applications and services to enable healthcare practitioners to deliver care more efficiently and with better outcomes. The Earnings Whisper Score gives the statistical odds for the stock ahead of earnings. General Electric reported a revenue figure that slightly beat analyst expectations. Explore GE’s recent and historic SEC filings. ... (February 24, 2020). Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Contact information for general inquiries and feedback. Back to GE Overview ©2020, EDGAR®Online, a division of Donnelley Financial Solutions. GE Has Cashed In Its Bio-pharmaceuticals Business. Read the results of the 2020 GE Global Innovation Barometer, titled “Pride and Protectionism: A Quest for Innovation Agency.”. General Electric Company (GE) is an American multinational conglomerate incorporated in New York City and headquartered in Boston.As of 2018, the company operates through the following segments: aviation, healthcare, power, renewable energy, digital industry, additive manufacturing and venture capital and finance.. For the month of July 2020, total gaming taxes were $26.4 million. Explore the latest stories, news, downloads, and press tools. The company also reported a loss of $2.1 billion in industrial free cash flow, which was better than the guidance issued by GE earlier this year. Aviation revenue sank 44% to $4.38 billion as the air-travel collapse added to Boeing 737 Max grounding woes. However, the industrial giant's bottom line took a bigger-than-expected hit as the company tries to weather the coronavirus pandemic. GE Healthcare revenue increased one percent to $4.7 billion, while the unit's profit increased 15 percent to $900 million. Commercializing GE’s technology and IP to accelerate growth and achieve market differentiation. By embracing diverse teams and perspectives, we are better equipped to build a world that works. Data is a real-time snapshot *Data is delayed at least 15 minutes. General Electric's revenue in FY … manufacturing and technology giant General Electric Co. (GE) is bullish on its business in Latin America and expects revenue growth of 10% to 20% a year through 2020, General Electric Latin America … View real-time stock prices and stock quotes for a full financial overview. Segment profits dropped to $550 million from $958 million. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted. Accomplished leaders building GE’s legacy. Revenue from power came in at $4.16 billion and renewable energy raked in $3.51 billion, both topping FactSet estimates. General Electric revenue for the twelve months ending September 30, … We had a very challenging second quarter that we met head-on, executing well operationally while we took actions to further de-risk our company. Transforming how industry solves its toughest challenges by bringing simplicity, speed and scale to digital transformation. Learn more about our culture, businesses, and life at GE. Find out the revenue, expenses and profit or loss over the last fiscal year. GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio. 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