General Electric Earnings Review

Earnings Review Second Quarter 2013: GE's 2QFY13 revenues clocked in at Its EPS clocked in at $35.7bn, $0.36, down 1.5% YoY. flat It missed analysts estimates of $36.01bn $36.01bn due to slower sales in Europe. YoY. GE Industrial's revenues totaled $25.81bn, up 3% YoY. GE Capital's revenues totaled J............ However, GE Industrial's operating margins were up $10.67bn, 5% YOY. down aobps 40 YTD. GE's consolidated profits were up 12% YOY. GE Industrial's profits were up 11% YoY. GE Capital's profits were 13% YOY. up GE's Order Backlog Growth: (in billions) GE currently has a very strong backlog, with $229bn worth of orders still pending. Its order book has grown by 12.8% YoY in the US alone, which indicates increased confidence in the economy. $223 $229 $204 $210 $216 $201 $203 1QFY12 2QFY12 3QFY12 4QFY12 1QFY13 2QFY13 2QFY13 Strong Cash Position: GE holds $10.4bn in cash and equipments. Year-to-Date (YTD) cash flows from operating activities, excluding taxes related to the NBC Universal sell-off, total Order pricing $5.9bn. flat over the preceding year. GE's current book-to-bill ratio is 1.2, which means it received 20% more orders in the quarter than it billed. In YTD GE Capital paid $3.9bn in dividends to its parent company. GE expects to receive a total of $6.5bn GE Capital's in dividends from GE earnings have increased Capital in 2013. 13% YOY. This is in line with its asset reduction policy, but at a faster pace than analysts expected. Aviation GE Aviation contributes 21% of GE Industrial's total revenues. Revenues: up 12% YoY Orders improved Segment profits: up18% YoY 51% YΟΥ to $7.8bn, taking the total backlog to a staggering Margins: up 100bps $114bn. due to a better value gap, which offset GENX (next-generation) jet engine headwind and higher research and development costs. Healthcare GE Healthcare contributes 18% of GE Industrial's total revenues. Revenues: flat at $4.3bn. Segment profits: up 7% YoY to Margins were $665m. up 100bps due to Orders were restructuring at GE. up 2% YoY on the back of strong demand from China. Revenues from emerging markets were up 5% YOY. Transportation GE Transporation contributes 6% of GE Industrial's total revenues. TA TA TA 00 00 Revenues: flat% YoY $1.4bn. at Revenue growth was driven by a Segment profits: up 15% YoY to $306m. 28% strong services revenues. Margins improved 300bps due to an improvement in the value gap and services. Orders for equipment were down45% YoY. Orders for services were up 8% YoY. Energy Management GE Energy Management contributes 8% of GE Industrial's total revenues. Revenues: down 3% YoY Margins contracted to $1.83bn. 120bps Segment profits: down 57% YoY $31m. due to a larger value gap. Home & Business GE Home & Business contributes 8% of GE Industrial's total revenues. Revenues: 7% YoY Division revenues: up to $2.1bn. Appliances: up8% YoY. Segment profits: Lighting: up 28% YoY to $77m. up 4% YoY. Margins exposed 60bps Oil & Gas GE Oil & Gas contributes 16% of GE Industrial's total revenues. Revenues: up 18% YoY $4.3bn. to Segment profits: Margins contracted by up 11% YoY dn $519m. 90bps due to acquisition, lower measurement to The Oil & Gas segment secured orders worth & control growth and project deals. $5bn in the quarter, Equipment orders: up24% up 42% YoY. ΥΟΥ Services orders: up 8% Yoy Power & Water GE Power & Water contributes 23% of GE Industrial's total revenues. Aggregate orders: Power & Water down1% Yoy segment revenues and profits were both to $6bn, down10% YoY to $6.5bn and segm ent profit of which equipment orders were up 37% YoY, up $9% to $13bn, YoY and services orders were up4% YoY. ΥΟΥ respectively. Margins expanded by 330bps Company Guidance for FY13 Sales are expected to grow from $147bn EPS growth is anticipated to be in the to double $154bn Margins are targeted to increase by digits 70bps Organic growth in the industrial business should be between 5% to 10% There is no change in the operating framework for 2013 SOURCES: BIDNESS Company Data, SEC filings, Bloomberg Professional Services ec. DISCLAIMER: Bidness Etc(TM) and related marks are owned by Bidness Etc. Any other trademarks appearing on this website are the property of their respective owners, and are not used to indicate the origin of goods or services offered or provided by Bidness Etc herein or to suggest approval for or affiliation with Bidness Etc. 0000