GE earnings: Wall Street analysts have lowered the beat bar, but investor expectations are now 'slightly elevated'

General Electric Co. investors should expect a “particularly noisy” earnings report for the industrial conglomerate’s fourth quarter, which will be the first since the company said it was breaking up, and said it would start reporting results on a consolidated basis.

The company is expected to post year-over-year growth on the bottom line for the third-straight quarter, but a 13th-consecutive quarter of total revenue declines, according to FactSet data, as the company has continued to execute its turnaround plan by selling off assets. “Demand remains solid but many companies are building record backlog and are unable to handle the high volume of orders,” Dray wrote in a research note to clients. “The setup for fourth-quarter earnings is now likely more dour than consensus was expecting in early December.”

GE’s stock fell 2.0% Friday to $96.30. It has slumped 6.6% amid a four-day losing streak but has gained 1.9% year to date. Meanwhile, the SPDR Industrial Select Sector exchange-traded fund XLI, -0.92% has lost 4.4% this year and the S&P 500 index SPX, -1.89% has dropped 7.7%.Earnings: The average estimate of 18 analysts surveyed by FactSet is for adjusted earnings per share of 85 cents, up from 64 cents in the same period a year ago.

“This quarter is going to be a particularly noisy one as GE is transitioning its financials to single-column reporting going forward, where headline results will now be on a consolidated basis,” RBC’s Dray wrote.

However, the oil price reached the highest since 2014. It was up so quick without fundamental support in COVID pandemic. It was done by someone and company at Wall Street on purpose. It is encouraging Russia's aggressive. Let's see how Biden can afford it.

I never thought of meeting a legit bitcoin trader after been scammed many times at my age but the heavens sent SamAndCoTradin guided me and help me make a living through bitcoin with my coinbase app, I recommend you to meet him now and also be a beneficiary of good work

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan's Nikkei Falls 2% as Asia-Pacific Stocks Track Wall Street Declines; Oil Slips From HighsAsia-Pacific Markets Set to Track Wall Street Declines; Oil Prices Slip From Highs
Source: nbcchicago - 🏆 545. / 51 Read more »

European stocks tumble, led by tech stocks, renewables after Wall Street routInvestors tracked losses across Asia and Wall Street, which suffered a late selloff, led by tech.
Source: MarketWatch - 🏆 3. / 97 Read more »