📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

Live from GE's investor update webcast

Published 01/16/2018, 08:40 AM
© Reuters.  Live from GE's investor update webcast
GE
-
  • "I am disappointed at this charge in out legacy portfolio, at a time when we are making profound changes to the company," GE CEO John Flannery declared on an investor webcast.
  • As mentioned earlier today, no agencies have "made changes to our credit ratings" despite the insurance charge.
  • The $6.2B after-tax GAAP charge in Q4 will translate to an about $7.5B charge at a 21% tax rate (determined by recent U.S. tax reform).
  • Expects a charge of ~$3.4B driven by the transition tax on overseas earnings & revaluation of deferred taxes (including $1.3B related to the insurance charge).
  • GE also sees Industrial operating + Verticals EPS at low end of guidance of $1.05-$1.10.
  • Check out the investor presentation here
  • Previously: General Electric down more than 3% on insurance charge (Jan. 16 2018)
  • Now read: I'd Buy General Electric At The Right Price Too


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.