GE - General Electric: NewCo Remains A Disaster
GE flood lights. Source: Barron's
Heading in to Q4 earnings General Electric's (GE) credit quality was cause for concern. After downgrading GE's down a few notches from junk status, the rating agencies expressed concern over the diminution of Power Systems. The company also named H. Larry Culp as new CEO. Culp has accelerated asset sales in order to pare debt and appease the rating agencies.
Revenue from core GE (NewCo) - Aviation, Power Systems and Renewable Energy - was $18.6 billion, flat Y/Y. This was an improvement over the high single-digit decline last