=General Electric (GE) reported earnings on Fri 20 Apr 2018 (b/o)

General Electric beats by $0.05, beats on revs; reaffirms FY18 EPS guidance

• Reports Q1 (Mar) earnings of $0.16 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.11; revenues rose 6.6% year/year to $28.66 bln vs the $27.26 bln Capital IQ Consensus.
• Co reaffirms guidance for FY18, sees EPS of $1.00-1.07, excluding non-recurring items, vs. $0.95 Capital IQ Consensus Estimate.
• "We reduced Industrial structural costs by $805 million and are on track to exceed our cost reduction goal of $2 billion in 2018...Aviation, Healthcare, Renewables, and Transportation grew earnings, and BHGE continues to execute on its plan. Power is making progress on cost actions and operational and services execution, but the industry continues to be challenging and is trending softer than our forecast. We are working to resolve legacy matters in our discontinued operations, and we recorded a reserve of $1.5 billion related to the WMC FIRREA investigation. We are making significant progress on the $20 billion of dispositions planned for 2018 & 2019. There is no change to our framework for 2018."