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GE's stock turns lower after profit and FCF beats, but revenue fell shy

Published Apr 27 2021 at 10:43 AM GMT
Key
Points
  • Shares of General Electric Co sank 2 3% in premarket trading Tuesday, reversing an earlier gain of as much as 1 3%, after the industrial conglomerate swung to a first-quarter loss, but reported adjusted profit that topped expectations while revenue fell shy.
  • The net loss for the quarter was $2.87 billion, or 33 cents a share, after net income of $6.
  • 16 billion, or 70 cents a share, in the year-ago period.
  • Excluding nonrecurring items, adjusted earnings per share came to 3 cents, beating the FactSet consensus of a penny per share.
  • Total revenue fell 12% to $17.12 billion, below the FactSet consensus of $17.



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  • Published Apr 27, 2021 10:43 AM GMT