Business Strategy and Spin-offs - General Electric plans to pursue a spin-off of its energy businesses, combining them into a new entity called GE Vernova[5]. - The company completed the separation of its HealthCare business on January 3, 2023, through the spin-off of GE HealthCare Technologies Inc.[8]. - GE's strategic plan includes separating GE Aerospace and GE Vernova into independent companies to enhance operational effectiveness[8]. - The GE HealthCare separation in January 2023 was executed as a tax-free spin-off, with the GE Vernova separation also intended to be tax-free for U.S. federal income tax purposes[156]. - The planned separation of GE Aerospace and GE Vernova into independent companies is expected to create long-term growth opportunities, but may face challenges and risks that could delay or prevent completion[156]. Financial Performance - Total revenues for General Electric Company in 2023 were $68.0 billion, an increase of $9.9 billion (17%) compared to 2022[22]. - Continuing earnings attributable to GE common shareholders were $8.772 billion, with earnings per share of $7.98, a significant increase from a loss of $1.1 billion in 2022[29]. - Adjusted earnings per share for 2023 were $2.81, reflecting a strong operational performance[23]. - Cash flows from operating activities increased to $5.6 billion in 2023, up from $4.0 billion in 2022[24]. - Total revenues for 2023 increased to $67.954 billion, up 17% from $58.1 billion in 2022[32]. - Adjusted total corporate operating costs decreased by $0.1 billion, mainly due to higher bank interest and improved performance in the Digital business[67]. - The company achieved adjusted earnings of $8,769 million in 2023, compared to a loss of $1,097 million in 2022, resulting in an EPS of $7.98[144]. Revenue Segments - Equipment revenues for 2023 were $26.8 billion, up $4.5 billion (20%) from 2022, primarily due to growth in Renewable Energy and Aerospace[28]. - Services revenues increased to $37.8 billion, a rise of $4.9 billion (15%) compared to 2022, with notable growth in Aerospace and Power segments[28]. - Aerospace segment revenues rose to $31.770 billion, a 22% increase from $26.050 billion in 2022, driven by higher commercial engine sales and services[42]. - The Renewable Energy segment's RPO (Remaining Performance Obligations) increased by $18.6 billion (14%) to $153.858 billion, reflecting higher demand for both equipment and services[41]. - Total segment revenues for 2023 were $15,050 million, up $2.1 billion (16%) from 2022, with segment losses decreasing by $1.0 billion (45%)[53]. Operational Efficiency and Challenges - The company faced inflationary pressures and supply chain delays, impacting profit margins and the conversion of RPO to revenue[30]. - The company is proactively managing inflationary pressures through lean initiatives and adjusting pricing strategies[57]. - Operational execution challenges, particularly with new product platforms like the Haliade-X offshore wind turbine, could adversely affect financial performance and cash flows[170]. - The company continues to have exposure to legacy insurance operations that may require future capital contributions, potentially leading to funding or liquidity stress[182]. Research and Development - The company emphasizes the importance of research and development, with long product development cycles critical to success[11]. - Research and development (R&D) expenses totaled $1.9 billion in 2023, an increase from $1.8 billion in 2022, with significant contributions from the Aerospace segment[81]. - The company continues to invest in new product development, including small modular nuclear reactor technology, with a focus on cleaner, more reliable power[60]. Sustainability and Emissions - The company aims to reduce emissions and enhance sustainability through its product offerings and operational practices[9]. - The energy transition presents both risks and opportunities for GE, particularly in sectors historically reliant on fossil fuels, with significant investments needed in new technologies and infrastructure[161]. - GE's success in reducing greenhouse gas emissions will depend on government actions, market incentives, and the development of new technologies, which may involve complex and costly processes[161]. Human Capital and Workplace Culture - GE's human capital management focuses on health and safety, talent development, and promoting an inclusive workplace culture[12]. - The company is committed to maintaining competitive pay practices, with men and women performing similar work paid within 1% of each other[13]. - General Electric Company employed approximately 125,000 people as of December 31, 2023, with around 44,000 in the United States[14]. Cybersecurity and Risk Management - The company anticipates continued evolution of its cybersecurity risk management strategies following the planned spin-off of its GE Vernova businesses[148]. - The company has implemented a third-party risk management process that includes cybersecurity assessments on certain suppliers based on their risk profile[149]. - Cybersecurity threats pose significant risks to the company's systems and data, with increasing sophistication of attacks expected to impact operations[175]. Legal and Regulatory Risks - The company is subject to various legal proceedings and compliance risks that could lead to material cash outflows and reputational damage[189]. - Regulatory changes, including increased protectionism and environmental laws, may impose additional costs and affect the company's competitive position[187]. - The company is subject to risks from government audits and investigations that could lead to fines or penalties, affecting its ability to secure government contracts[188].

(Photo credit should read STAN HONDA/AFP via Getty Images)AFP via Getty ImagesOn January 23, 2024, General Electric GE (NYSE: GE, $131.10, Market Capitalization: $142.69 billion) reported solid 4Q23 results, with a beat on revenues and EPS versus consensus. The company plans to file Form 10 by mid-February 2024 and expects to complete the GE Vernova spin-off in April 2024. Revenue increased 15.4% YoY organically, with all segments up double digits. Adjusted operating profit was up 20%, driven by volume and ...

Sundry Photography General Electric (NYSE:GE) reported quarterly earnings for 4Q-23 on Tuesday which beat estimates: The industrial company said it earned $1.03 in adjusted profits, handily beating the Street’s $0.89 estimate. The EPS outlook for 1Q-23 is what caused General Electric’s stock price to slump 3% in trading before market open on Tuesday. Nevertheless, the conglomerate is seeing robust order strength, particularly in its Aerospace segment which has started to shine in 2023. The energy infras ...

Key PointsShares of GE are down slightly as weak guidance overshadowed a double beat in the company's fourth-quarter earnings report. The next quarter will likely be the last quarter that GE reports before spinning off its Verdana power-generation business.  GE stock looks fairly valued, but investors can look at any dip as a buying opportunity ahead of the split.  5 stocks we like better than General ElectricShares of GE NYSE: GE are down about 1.5% in midday trading after the company reported earnings. Th ...

With the earnings season now in full force, valuable data to gauge the broader economy will be rolling in.Below, I will share three stocks that posted earnings beats this morning, and that I think may be appealing additions to many investors’ portfolios.General Electric In 2023 General Electric (GE)  stock recorded one of its best performances in modern history gaining 60% in the year. General Electric also enjoys a Zacks Rank #2 (Buy) rating reflecting upward trending earnings revisions. Following the high ...

General Electric Company (GE) reported fourth-quarter 2023 adjusted earnings of $1.03 per share, which beat the Zacks Consensus Estimate of adjusted earnings of 90 cents per share. However, the bottom line decreased 16.9% year over year.Total segment revenues of $18,518 million beat the consensus estimate of $17,767 million. The top line increased 15.3% year over year.Segmental DiscussionGE started reporting its revenues under two segments, effective from the first quarter of 2023, namely GE Aerospace and G ...

Key TakeawaysGE reported better-than-expected fourth-quarter earnings.Revenue grew 15% to $19.42 billion, hurt a little by a slowdown in aerospace revenue growth compared to previous quarters.GE's guidance for the first quarter of 2024 said the company "expects to deliver high-single-digit revenue growth" with earnings per share between $0.60 and $0.65.The company is working to spin off its renewables company by early April.Shares of General Electric Co. (GE) fell during pre-market trading and Tuesday morni ...

Rolls-Royce Holdings PLC (LSE:RR.) was the biggest FTSE 100 faller today, sliding on the back of a weak outlook from General Electric for the first quarter of 2024. Shares dipped 2.3% to 301.8p, having risen over 170% over the past 12 months, as GE’s first-quarter profit forecast for the combined operations fell short of Wall Street estimates. The company's predicted earnings per share of 60 to 65 cents a share was below the 70-cent average of analyst estimates compiled by Bloomberg. Results from London-lis ...

General Electric (NYSE:GE) Q4 2023 Earnings Conference Call January 23, 2024 7:30 AM ET Company Participants Steve Winoker - Vice President, Investor Relations Larry Culp - Chairman and Chief Executive Officer, GE Aerospace Rahul Ghai - Senior Vice President and Chief Financial Officer, GE Aerospace Scott Strazik - Chief Executive Officer, GE Vernova Conference Call Participants Myles Walton - Wolfe Research Joe Ritchie - Goldman Sachs Ken Herbert - RBC Capital Markets Julian Mitchell - Barclays Sheila Kahy ...

General Electric (GE) reported $18.52 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 15%. EPS of $1.03 for the same period compares to $1.24 a year ago.The reported revenue represents a surprise of +4.22% over the Zacks Consensus Estimate of $17.77 billion. With the consensus EPS estimate being $0.90, the EPS surprise was +14.44%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...