As Q4 earnings roll out, GE is off the mark again—reporting for both the last quarter and 2016, comprehensively. Compared with last year’s Q4 earnings per share of $0.64 on revenues of $33.89 billion, this year General Electric Co. reported EPS of $0.39 on revenues of $33.09 billion. Analyst projections for this quarter showed an EPS of $0.46 on revenues of $33.63 billion.
While analysts had predicted full-year EPS at $1.49 on revenues of $124.33 billion, the full year report showed an EPS of $0.89 and revenues of $123.69 billion, compared with a year-ago loss of $0.61 per share and revenues of $117.39 billion.
Other highlights in the reports include:
- Industrial operating and verticals, earnings rose 36%, from $2.57 billion in the fourth quarter of 2015 to $3.48 billion
- Adjusted EPS dipped from $0.52 to $0.46
- Earnings for the full year rose from $1.66 billion in 2015 to $9.13 billion
- Adjusted EPS rose from $1.31 to $1.49
- Revenues in the oil and gas segment were down 22% year over year in the quarter from $4.36 billion to $3.40 billion.
- Energy connections revenue fell 29% to $3.33 billion and renewable energy revenues were up 29% to $2.50 billion.
It’s also notable that for last year, the GE financial report included large write-downs due to the company’s divesting of parts of GE Capital, to become Synchrony Financial. Other large deals that went south contributed to the disappointing earnings. Aviation, healthcare, and renewables performed very well during the year though. The company is additionally turning to additive manufacturing technology as a growth driver, following major investment in 2016.
“We executed on our 2016 goals and continued to drive growth across our businesses through the GE Store while investing in additive manufacturing and digital technology. We delivered $1.49 of earnings per share this year and 1% of organic growth,” said CEO Jeff Immelt.
“We reported $32.6 billion of free cash flow and dispositions and returned $30.5 billion to shareowners through dividends and buyback. We will continue to invest in the Industrial Internet to lead in productivity and performance for our customers in 2017.”
At the GE 4th Quarter 2016 Earnings Webcast, Jeff Immelt, Chairman and CEO; Jeff Bornstein, Senior Vice President and Chief Financial Officer; and Matt Cribbins, VP Investor Communications were in attendance, reporting the following additional information:
- 2017 should show an adjusted EPS in the range of $1.60 to $1.70.
- Estimated free cash flow and dispositions are forecast for this year in a range of $16 billion to $20 billion.
- GE also expects to return dividends totaling approximately $8 billion and buybacks totaling $11 billion to $13 billion in 2017.
The webcast described a volatile environment with challenges to continue within the oil environment. Optimism about the US economy is present, however, and GE sees globalization as being ‘redefined’ and ‘requiring flexibility.’
The first quarter is estimated by analysts to show a performance with EPS of $0.29 on revenues of $27.36 billion and the year to show EPS of $1.66 on revenues of $126.2 billion. Discuss in the GE forum at 3DPB.com.
[Sources: Yahoo Finance; GE]
Subscribe to Our Email Newsletter
Stay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.
You May Also Like
Former Formlabs Exec is New Quantica CEO
Inkjet 3D printer manufacturer Quantica has appointed Stefan Hollaender as its new Chief Executive Officer (CEO). This leadership change marks a pivotal moment in Quantica’s evolution, with the outgoing CEO,...
Innovations in Electronics and Additive Manufacturing: Highlights from Electronica and Formnext 2024
In November, J.A.M.E.S. participated in two big industry events: Electronica and Formnext 2024. These international events have been a good opportunity for J.A.M.E.S to show our ability in 3D-printed electronics...
Printing Money Episode 24: Q3 2024 Earnings Review with Troy Jensen, Cantor Fitzgerald
Welcome to Printing Money Episode 24. Troy Jensen, Managing Director of Cantor Fitzgerald, joins Danny Piper, Managing Partner at NewCap Partners, once again as it is time to review the...
Finding Solutions in an Uncertain Market: The impact of reduced material providers and trade tariffs on filament supply
The additive manufacturing market has been an ever-changing market with rapidly evolving technological advancements and growing dependencies on material innovation. The recent wave of material suppliers shuttering operations and the...