2024-11-05

http://w3.windfair.net/wind-energy/news/35131-ge-ge-renewable-energy-results-q2-quarter-covid-19-orders-revenues-profit-challenge

07/30/2020

Posted by: Windfair Editors

GE Publishes Q2 Results

GE Chairman and CEO H. Lawrence Culp, Jr.: "We expect to return to positive Industrial free cash flow in 2021. We are accelerating our transformation to make GE stronger and drive long-term, profitable growth."

Official Press Release GE:

GE announces second quarter 2020 results

Wind Industry Profile of

Challenging quarter that GE met head-on with better operational execution and de-risking actions

GE (NYSE:GE) announced results today for the second quarter ending June 30, 2020. Total orders $13.8B, (38)%; organic orders (35)% Total revenues (GAAP) $17.7B, (24)%; Industrial organic revenues* $16.3B, (20)% Industrial profit margin (GAAP) of (5.7)%, (390) bps; adjusted Industrial profit margin* (3.2)%, (1,170) bps Continuing EPS (GAAP) of $(0.27), including non-cash goodwill and other charges and the impact of marking GE's investment in Baker Hughes to market; adjusted EPS* $(0.15) GE CFOA (GAAP) $(1.6)B; Industrial free cash flow* $(2.1)B GE Chairman and CEO H. Lawrence Culp, Jr. said,... ... More: Official Press Release GE