=General Electric (GE) reported earnings on Wed 29 Jan 20 (b/o)

General Electric beats by $0.03, beats on revs; guides FY20 EPS below consensus

Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.18; revenues fell 1.0% year/year to $26.24 bln vs the $25.77 bln S&P Capital IQ Consensus.

Orders of $4.5 billion were down 30% reported and down 28% organically. Gas Power orders were down 8% reported and organically, largely driven by the non-repeat of a large turnkey equipment order. The business booked orders for 22 heavy-duty gas turbines, including three HA units and one aeroderivative unit, and services had its strongest orders growth quarter of 2019. Power Portfolio orders were down 57% reported and 55% organically, driven by the non-repeat of a large order in Steam Power.

Co issues downside guidance for FY20, sees EPS of $0.50-0.60, excluding non-recurring items, vs. $0.67 S&P Capital IQ Consensus.