General Electric's power unit struggles as wind, solar gain [MSN Money]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: MSN Money
Vistra Energy and Dominion Energy, which serve about 5.5 million electricity customers in more than a dozen U.S. states, both say they are done building combined-cycle natural gas-fired power plants. Load Error Instead, they are building large solar plants, which offer plentiful and inexpensive electricity. This bearish view of fossil-fuel energy, reflective of a growing acceptance by utilities of renewable power sources, poses a hurdle to John Flannery's plan to turn around General Electric's $35 billion-a-year power unit. GE's chief executive spelled out the difficulty on Wednesday. Power profits will be flat this year after falling 53 percent in 2017, he said, and GE is planning that demand for heavy-duty natural gas power plants will be less than half what it forecast just over a year ago, and will stay at that level through 2020. New plant sales are going to be tough, Flannery said at an investor conference on Wednesday. This is not going to be a quick fix, bu
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GE
Earnings
- 4/23/24 - Beat
GE
Sec Filings
- 4/23/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/15/24 - Form 3
- GE's page on the SEC website