- Revenue $34.2bn
- EPS on $3.3bn operating earnings (-18% y/y) $0.33 vs $0.32 exp (-15%)
- Q1 infrastructure orders $23.7bn, flat y/y
- Backlog of equipment and services $245bn, up in every segment from a year ago
- Operating margins up 50bps
- GE Capital earnings -$7bn from Q4 2013
GE’s CEO Jeff Immelt says;
“We’re off to a good start to the year, and our 2014 framework remains unchanged. The environment is consistent with our expectations, with a positive bias. The GE team is executing with strong organic growth, consistent margin enhancement, cash growth with disciplined allocation, and a stronger GE Capital. We are on track for our Retail Finance IPO and remain committed to a GE that has 70% of our earnings from the Industrial businesses. GE is in good shape.”
Not a bad report. There were falls in the transportation side of the business but overall industrial profits were up around 12% helped by the margin increase. The stock is up around 1% on the pre market.
