General Electric posted $19.4 billion in revenues, up from expected $19.1 billion in Q3 2020 despite the “still-dIfficult” operating environment, according to the company’s press release. Continuing GAAP earnings per share (EPS) was $0.13, while the adjusted EPS was $006. The company is improving profit and cash performance with expansions in organic margin in every segment except aviation. 

  • GE anticipates industrial free cash flows (FCF) of at least $2.5 billion in Q4 and affirms positive FCF in 2021
  • The company has set a new goal of carbon neutrality in its operations by 2030 after achieving the 2020 greenhouse gas emissions target ahead of schedule
  • GE will pursue an exit from the new-build coal power market and invest in core renewable energy and power generation businesses. 
  • GE has strengthened operational execution  and realized 75% of its target of more than $2 billion cost actions and more than $3 billion cash actions in 2020
  • The company has reduced debt by $11.7 billion year to date, $8.1 billion in industrial debt, and $3.6 in capital debt. Q3 debt has been reduced by $2.6 billion.
  • Segment organic revenue:
    • Healthcare $4.6 billion, up 10% year-over-year basis
    • Renewable energy $4.5 billion, up 4% year-over-year basis
    • Power revenues $4.0 billion, up 3% year-over-year basis
    • Aviation revenues $4.9 billion billion, down 39% year-over-year basis

General Electric stock is gaining. GE: NYSE is up on premarket 5.35%