Earnings: Industrial Conglomerate General Electric Reports Tomorrow
April 20, 2017 - 12:21pm
Industrial conglomerate General Electric Company (NYSE: GE) reports first-quarter earnings before market open tomorrow. It’ll be sharing the stage tomorrow morning with another industrial titan, Honeywell International Inc. (NYSE: HON). The industrial sector is expected to report the largest year-over-year earnings decline of all eleven sectors in the S&P 500 (SPX) and eight out of the twelve industries are reporting or are predicted to report earnings declines, according to FactSet research. That same research says the airline industry is the largest contributor to the expected earnings decline; if they are excluded the estimated Industrials earnings decline improves from a 7\% decrease to a 0.7\% decrease.
As a result of its size and scope in industrials, GE has “felt every bump in this industrial recession that we have been in for the past 7 quarters,” according to RBC analyst Deane Dray. Its shares declined just over 5\% year to date while the SPX is up about 5\%. It ended 2016 up 1.44\%, lagging the SPX’s 9.84\% increase.
Last quarter, ...Full story available on Benzinga.com
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