PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Announced First-quarter 2012 Operating Earnings - GE (NYSE: GE) announced first-quarter 2012 Operating Earnings of $3.6 billion, or $0.34 per share, up 1% and 3% respectively from the first-quarter of 2011
GE Announced First-quarter 2012 Operating Earnings


NewswireToday - /newswire/ - Fairfield, CT, United States, 2012/04/20 - GE (NYSE: GE) announced first-quarter 2012 Operating Earnings of $3.6 billion, or $0.34 per share, up 1% and 3% respectively from the first-quarter of 2011. NYSE: GE

Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


GE Reports 1Q’12 Operating EPS of $0.34, +3% (+17% excluding 1Q’11 one-time items) Industrial Segment Revenues of $23.7B, +14%; Organic Growth +11%

Infrastructure Orders +20%; Industrial Segment Profit +10%
Industrial CFOA of $2.1B, +22%

1Q 2012 Highlights

• Eighth consecutive quarter of strong operating earnings growth
1Q Operating EPS of $0.34, up 3%; up 17% excluding one-time items
1Q Continuing EPS of $0.31, flat vs. prior year
Revenues of $35.2 billion for the quarter, Industrial segment revenues of $23.7 billion, up 14%

• Leading indicators remain positive
Record first quarter Infrastructure orders of $23.1 billion, up 20%; Equipment up 29%; Services up 11%
Organic orders up 14%
Industrial segment orders in growth markets up 21%

• GE Capital earned $1.8 billion (flat vs. 2011), up 27% excluding 1Q’11 Garanti sale impact
Real Estate returns to profitability
GECC Tier 1 Common Ratio of 10.4%

• On track to deliver double-digit earnings growth in Industrial segments and GE Capital for 2012

Operating EPS was up 17% excluding one-time items. GAAP earnings from continuing operations (attributable to GE) were $3.3 billion, down 4%, or $0.31 per share, flat from the prior year quarter. Revenues were $35.2 billion for the quarter, down 8% reflecting the non-repeat of the NBCU and Garanti sales in 1Q ’11 and lower ENI at GE Capital. Industrial segment revenue grew by 14%. The strength of GE’s portfolio was underscored by record first quarter Infrastructure orders of $23.1 billion, up 20%. The company is executing well and is on track to deliver double-digit earnings growth in 2012 for both Industrial businesses and GE Capital.

“We have previously communicated two significant catalysts for investors: double-digit Industrial earnings growth and the return of the GE Capital dividend to the parent,” said GE Chairman and CEO Jeff Immelt. “Today’s results demonstrate that we are achieving Industrial growth and GE Capital continues to grow stronger. This quarter we witnessed broad-based strength in orders across all our Infrastructure businesses and in both equipment and services. We see encouraging leading indicators driven by global growth. Our strategy to invest in technology and global growth platforms continues to produce results with 11% organic Industrial segment revenue growth and 10% Industrial segment profit growth in the first quarter.”

GE Capital’s first quarter earnings were $1.8 billion, flat from last year, but up 27% excluding the 1Q’11 Garanti sale impact. The company believes that GE Capital’s strong business performance should continue for the year. Margins on new business continue to be attractive, with overall portfolio margins increasing. Real Estate turned its first profit since 3Q 2008. GECC’s Tier One common ratio of 10.4% has never been stronger. GE Capital’s solid liquidity position and earnings power remain a source of strength.

Infrastructure orders were a record high for the first quarter at $23.1 billion, up 20% from the prior year. Organic orders grew 14% in the first quarter, marking the eighth consecutive quarter of positive growth. Industrial growth market orders were up 21%. All businesses grew equipment orders at double-digit rates for the quarter. Orders for the quarter included: South Africa’s Transnet ordered 43 new Model C30ACi locomotives, bringing the total number of GE locomotives ordered to 143 since December 2009. GE Oil & Gas received orders of $1 billion to supply a wide range of equipment and services for the Ichthys liquefied natural gas (LNG) project in Australia. Also, GE received commitments for GEnx-1B engines from Kenya Airways valued at $380 million. Yesterday, GE announced a key strategic commitment from Qantas Group involving the selection of the LEAP (CFM) engine to power 78 A320 aircraft valued at $2 billion. The GE joint venture with Snecma has secured orders and commitments for more than 3,500 LEAP engines in the past year.

Total revenues for the quarter were $35.2 billion, up 4% excluding the impact of NBCU. GE’s first-quarter Industrial segment revenues were $23.7 billion, up 14%. Industrial segment organic revenue was up 11% for the quarter. Industrial growth market revenues were up 14%, driven by double-digit growth in Australia, Canada, China, Russia, Latin America, and Sub-Saharan Africa. The U.S. was also strong with Industrial segment revenues up 17%.

Industrial segment profit was up 10% to $3.3 billion and segment operating profit margins showed improvement in Healthcare and Transportation in the first quarter. While margins were down in total in the quarter, we expect them to increase 50 basis points over the total year as businesses continue to implement productivity projects and recognize value gap improvements. In addition, pricing on new orders was up 50 basis points in total with higher prices in 4 out of 5 businesses. Cash generated from Industrial operating activities was up 22% at $2.1 billion. At the end of the first quarter, GE had $84 billion of consolidated-cash and cash equivalents.

Immelt concluded,“We had a strong performance to kick off the year and the leading indicators support our 2012 framework. Industrial segment profit grew. We are positioned for double digit growth and our Industrial cash plan remains solid. We expect to return excess cash from GE Capital over the course of 2012, subject to review by the Federal Reserve. Capital allocation will be balanced and investor friendly. We are prepared for a variety of global outcomes which positions us to deliver for our investors in 2012 and beyond.”

First-quarter Highlights:

First-quarter operating earnings were $3.6 billion, up 1% from the first quarter of 2011 and operating EPS was $0.34, up 3% from $0.33 in the first quarter of last year. GAAP earnings from continuing operations (attributable to GE) were $3.3 billion, down 4%, or $0.31 per share, flat from the prior year quarter.

Including the effects of discontinued operations, first-quarter net earnings attributable to GE were $3.0 billion ($0.29 per share attributable to common shareowners) in 2012 compared with $3.4 billion ($0.31 per share attributable to common shareowners) in the first quarter of 2011. Discontinued Operations included $0.2 billion charge primarily related to our intent to exit our Irish mortgage platform in GE Capital. We do not expect further charges related to this business post sale. Positive items of $0.01 per share were offset by $0.01 per share of restructuring and other one-time charges.

First-quarter revenues decreased 8% to $35.2 billion and were up 4% excluding NBCU revenues. Industrial sales of $23.7 billion increased 7% versus 2011. GE Capital Corporation (GECC) revenues of $11.4 billion decreased 12% from last year.

Cash generated from GE Industrial operating activities in the first three months of 2012 totaled $2.1 billion, up 22% from $1.7 billion last year.

The accompanying tables include information integral to assessing the Company’s financial position, operating performance and cash flow.

GE will discuss preliminary first-quarter results on a Webcast at 8:30 am. ET today, available at Related charts will be posted there prior to the call.

About GE
GE ( works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing.

Caution Concerning Forward-Looking Statements:
This document contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; potential market disruptions or other impacts arising in the United States or Europe from developments in the European sovereign debt situation; the impact of conditions in the financial and credit markets on the availability and cost of General Electric Capital Corporation’s (GECC) funding and on our ability to reduce GECC’s asset levels as planned; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; changes in Japanese consumer behavior that may affect our estimates of liability for excess interest refund claims (Grey Zone); our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the adequacy of our cash flow and earnings and other conditions which may affect our ability to pay our quarterly dividend at the planned level; our plan to resume GECC dividends, which is subject to Federal Reserve review; our ability to convert customer wins (which represent pre-order commitments) into orders; the level of demand and financial performance of the major industries we serve, including, without limitation, air and rail transportation, energy generation, real estate and healthcare; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of financial services regulation; strategic actions, including acquisitions, joint ventures and dispositions and our success in completing announced transactions and integrating acquired businesses; the impact of potential information technology or data security breaches; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

PRESS Contact
Trevor Schauenberg - GE Corporate, VP Investor Communications
P: +1 203 373 2424 - E: trevor.a.schauenberg[.]

Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Written by / Agency / Source: General Electric Company


Availability: All Regions (Including Int'l)


Traffic Booster: [/] Quick Newswire Today Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!

GE Announced First-quarter 2012 Operating Earnings

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Deirdre Latour - GE Corporate 
203-373-2145 / 203-231-8531 (mobile) deirdre.latour[.]
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Articles From General Electric Company / Company Profile

Read Financial/Legal/Venture Most Recent Related Newswires:

Acquisition Assessments Arouse the Interest of TPA Business Owners Looking to Sell
TRA Hires Programmer Analyst to Enhance IT Department
Bosnia, Privatized Krajina Insurance Osiguranje is Nationalized - Investors Start Arbitration
TRA Announces Acquisition of Retirement Planning, Inc.
Lexis Advance Wins SIIA Business Technology CODiE Award
FTI Consulting Launches Specialist Director Support Services in the Cayman Islands
LexisNexis Spotlights New Innovations, Analytics & A.I. Offerings at AALL 2017
LexisNexis Digital Library Announces New Agreement with ALM
TRA Hires Tiffany Hanks as Regional Sales Consultant
LexisNexis® Expands Media Intelligence Portfolio with LexisNexis® Media Contacts Solution
LexisNexis Wins 21 Awards from Two Prestigious Publications
Frost & Sullivan Commends AutoGravity for Transforming Automotive Financing Industry
NYSE Governance Services and FTI Consulting Announce 17th Annual Corporate Law Firms Rankings
FTI Consulting and Asia Group Advisors Formalise Affiliate Relationship Across Asia Pacific
LexisNexis Receives 2017 Corporate Leadership Award from Freedom House for Activism in Advancing the Rule of Law

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business


Visit  RightITnow Ltd


  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (