General Electric beats by $0.02, beats on revs; reaffirms FY18 EPS guidance
- Reports Q2 (Jun) earnings of $0.19 per share, excluding non-recurring items, $0.02 better thanthe Capital IQ Consensus of $0.17; revenues rose 3.5% year/year to $30.1 bln vs the $29.39 bln Capital IQ Consensus.
- "The second quarter was in line with expectations, and we saw continued strength across many of our segments, especially in Aviation and Healthcare. We expect the power market to remain challenging, and we continue our focus on operational improvement. In the first half of the year, we reduced Industrial structural costs by $1.1 billion, more than halfway toward our 2018 goal of more than $2 billion. Our adjusted Industrial free cash flows improved in the first half year over year, and we plan to end 2018 with more than $15 billion of cash."
- Co reaffirms guidance for FY18, sees EPS of $1.00-1.07, excluding non-recurring items, vs. $0.94 Capital IQ Consensus Estimate.
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