-=General Electric (GE) reported earnings on Tue 26 Jan 21 (b/o)

 

General Electric misses by $0.01, beats on revs; guides FY21 EPS below consensus

Reports Q4 (Dec) earnings of $0.08 per share, excluding non-recurring items, $0.01 worse than the S&P Capital IQ Consensus of $0.09; revenues fell 16.4% year/year to $21.93 bln vs the $21.62 bln S&P Capital IQ Consensus.

Co issues downside guidance for FY21, sees EPS of $0.15-0.25, excluding non-recurring items, vs. $0.38 S&P Capital IQ Consensus. GE Industrial revenues to grow organically in the low-single-digit range. Adjusted GE Industrial profit margin to expand organically by 250-plus basis points. GE's 2021 outlook reflects a reduction in cash and profit from businesses that were disposed in 2020 (primarily BioPharma) as well as continued reduction of Baker Hughes shareholder dividends in line with the orderly sale of GE's remaining stake. In the first quarter of 2020, BioPharma generated nearly $300 million* in cash and $400 million in profit, and GE received more than $250 million in Baker Hughes dividends in 2020.