General Electric Q1 adjusted EPS up 14%Staff Writer | April 23, 2018
General Electric reported first-quarter consolidated adjusted EPS of $0.16 compared to $0.14, prior year.
General Electric BHGE revenues were $5.4 billion
First-quarter earnings per share from continuing operations was $0.04 compared to $0.01. Earnings from continuing operations increased to $440 million from $52 million. First-quarter adjusted Industrial earnings per share was $0.18, up 29% from prior year.
First-quarter total revenues increased 7% year-over-year to $28.66 billion. Industrial revenues were up 9% to $26.5 billion. Organic revenues for Industrial segments were down 4%. Power segment revenue was $7.2 billion, down 9%.
The company said the Power segment is making progress on cost actions and operational and services execution, but the industry continues to be challenging and is trending softer than its forecast.
BHGE (Oil & Gas) revenues were $5.4 billion, up 74% reported and down 14% organic. Aviation revenues in the quarter grew 7% to $7.1 billion.
For 2018, GE continues to project consolidated adjusted EPS of $1.00-1.07; and adjusted Industrial FCF in a range of $6-7 billion. ■