Industrial conglomerate General Electric (NYSE: GE) will be reporting results tomorrow before the bell. Here’s what investors should know.
General Electric missed analysts’ revenue expectations by 4.7% last quarter, reporting revenues of $8.94 billion, down 3.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates.
Is General Electric a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting General Electric’s revenue to grow 11.4% year on year to $9.47 billion, in line with the 11.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.04 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at General Electric’s peers in the industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. 3M’s revenues decreased 3.2% year on year, missing analysts’ expectations by 0.8%, and Worthington reported a revenue decline of 8.1%, in line with consensus estimates. Worthington traded up 10.2% following the results.
Read our full analysis of 3M’s results here and Worthington’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 5.3% on average over the last month. General Electric is up 9.7% during the same time and is heading into earnings with an average analyst price target of $208.60 (compared to the current share price of $188.19).
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