General Electric (NYSE:GE) earnings for the American conglomerate company’s fourth quarter of 2019 have GE stock soaring on Wednesday. That’s thanks to adjusted EPS of 21 cents, which is better than Wall Street’s estimate of 18 cents. Revenue of $26.24 billion was also above analysts’ estimates of $25.57 billion.
Here’s what else is worth mentioning from the most recent General Electric earnings report.
- Adjusted per-share earnings for the quarter are up 23.53% from 17 cents in Q4 2018.
- Revenue comes in almost 1% lower than the $26.50 billion from the same period of the year prior.
- Operating income of $845 million is a 21.23% increase YoY from $697 million.
- The General Electric earnings report also includes a net income of $721 million.
- This is a 16.16% decrease compared to the company’s net income of $860 million from the same time last year.
H. Lawrence Culp, Jr, Chairman and CEO of General Electric, says this about the GE stock earnings report.
“The fourth quarter marked a strong close to the year for GE. We met or exceeded our full-year financial targets and are on a positive trajectory for 2020. We’re proud of our progress in 2019, including decisive actions to reduce our leverage and strengthen our businesses.”
The General Electric earnings report also includes its outlook for 2020. It is expecting adjusted earnings per share for the year to range from 50 cents to 60 cents. Wall Street is looking for EPS of 66 cents for the year.
GE stock was up 10.23% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
