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General Electric’s 1Q17 Results Beat Estimates: Stock Fell 2.5%

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General Electric’s 1Q17 Results Beat Estimates: Stock Fell 2.5% PART 1 OF 12

General Electric’s 1Q17 Results Beat Estimates: Stock Fell 2.5%

GE’s 1Q17 earnings

General Electric (GE) announced its 1Q17 results on April 21, 2017. The industrial giant has beaten Reuter-surveyed analysts’ consensus earnings in the last eight consecutive quarters.

The company’s adjusted EPS (earnings per share) was $0.21 in 1Q17 against analysts’ forecast EPS of $0.17. The company beat analysts’ earnings estimate by 24.0%.

General Electric’s 1Q17 Results Beat Estimates: Stock Fell 2.5%

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GE’s industrial plus vertical operating EPS was $0.21, almost flat compared to 1Q16. Its EPS from continuing operations was $0.10, which was 233.0% higher on a year-over-year basis.

Stock price reaction

General Electric is an industrial mammoth with diversified business operations. Jeffery Immelt, its CEO (chief executive officer), has been on track to convert it into a pure play industrial company. Having said that, market participants may not be able to fathom the depth of its quarterly results in a single breath due to the complexity of its business.

After GE posted its 1Q17 earnings, GE stock fell 2.5% to close at $29.50 on April 21, 2017. That same day, the SPDR S&P 500 ETF (SPY), which tracks the broad market, fell 0.32%. GE’s 1Q17 results should be viewed as a mirror of global industrial activity. Let’s see how its peers fared on April 21, 2017:

  • Illinois Tool Works (ITW): rose 0.22%
  • 3M (MMM): rose 0.18%
  • United Technologies (UTX): rose 0.92%
  • Honeywell International (HON): rose 2.7%

In this series

In this post-earnings series, we’ll be looking at the performances of General Electric’s major segments. We’ll also take a look at its operating margins and Wall Street analysts’ views on GE since its 1Q17 earnings.

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