GE recently posted their first quarter 2016 earnings report. For a full report, click here.
Highlights:
- Industrial operating + Verticals EPS $0.21, +5%; Industrial segments include $(0.02) total FX impact
- 1Q GAAP EPS from continuing operations, $0.02 vs. $(0.45) in 1Q’15
- Total Industrial margins excluding Alstom 12.8%, +30 bps
- Orders +1%, -7% organic; backlog $316 billion, +18% vs. 1Q’15, +7% excluding Alstom
- Reaffirms 2016 Industrial operating + Verticals EPS guidance $1.45–$1.55
“GE continues to deliver in a volatile environment and performed well in the first quarter. Our teams delivered $0.21 of earnings per share that included $(0.02) of total FX impact in the industrial segments. The Oil & Gas environment is challenging and the value of GE is that we are able to offset this with better performance across the portfolio. We are reaffirming our guidance for 2016 of $1.45–$1.55 EPS, 2–4% organic growth, margin expansion and returning $26 billion to shareholders,” said Jeff Immelt, Chairman and CEO.
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