GE CEO John Flannery. Source: General Electric
General Electric (GE) reported Q4 revenue of $31.4 billion and EPS of -$1.23. The company missed on revenue and earnings, but gave expected adjusted earnings for 2018 of $1.00 - $1.07 which was similar to a consensus of $1.06. However, its reserving practices for long-term care policies could be the next shoe to drop for the industrial giant.
Power's Demise Continues
Revenue for GE's core Industrial products grew 3% Y/Y. The results were not totally apples-to-apples as Oil and Gas revenue included its merger with Baker