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Stock impact report

GE Stock Falls As Earnings Miss, Slow Aviation Recovery Seen [Investor's Business Daily]

General Electric Company (GE) 
Last general electric company earnings: 4/30 04:02 pm Check Earnings Report
US:NYSE Investor Relations: ge.com/investor-relations/overview
Related news General Electric ( GE ) posted sharp drops in earnings and revenue for the first quarter — and warned Q2 will be worse due to the coronavirus pandemic. GE stock fell. GE earnings crumbled 62% to 5 cents a share in Q1. Total revenue slid 8% to $20.52 billion. Analysts were expecting EPS of 6 cents on revenue of $20.7 billion, according to Zacks Investment Research. The deadly coronavirus, which shut down cities and travel, hurt all of the conglomerate's businesses, especially aviation. And on a conference call with analysts, CEO Larry Culp said he expects a slow recovery in aviation. That forecast for the aviation business, GE's biggest by revenue, should be no surprise to investors, Barclays analyst Julian Mitchell said Wednesday. But analyst John Inch at Gordon Haskett was disappointed that GE didn't continue a beat-and-raise pattern . And longtime GE bear, analyst Steve Tusa of JPMorgan, called Q1 a miss across the board on almost all fronts. "This is a worse than expe Show less Read more
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