General Electric's Transformation Gains Steam With Wabtec Deal [The Motley Fool]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: The Motley Fool
General Electric has agreed to merge its transportation segment with Wabtec, with total proceeds to the company and its shareholders exceeding $10 billion. The last 12 months have been a roller coaster for General Electric ( NYSE:GE ) investors. The profitability of GE's largest business unit (GE Power) has plunged, while bad decisions made years ago by the company's finance subsidiary are finally coming back to haunt it. CEO John Flannery has reacted by promising to cut costs and radically simplify GE by selling or spinning off non-core businesses. The planned asset sales will have the secondary benefit of shoring up GE's weak balance sheet . On Monday, General Electric announced its biggest divestiture yet. The company is set to merge its transportation business, which primarily builds railroad locomotives, with Westinghouse Air Brake Technologies ( NYSE:WAB ) -- better known as Wabtec. This deal will generate a sizable cash windfall, and GE shareholders wi
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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