General Electric Q1 Profit Beats Estimates, Industrial Organic Revenues Down 10%; Reiterates Outlook

(RTTNews) - General Electric Company (GE) reported first quarter adjusted EPS of $0.03 compared to $0.02, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.01, for the quarter. Analysts' estimates typically exclude special items.

First quarter earnings from continuing operations attributable to shareholders declined to $20 million from $6.17 billion, prior year. Continuing EPS was breakeven compared to $0.70.

First quarter total revenues were $17.12 billion, down 12% from prior year. Industrial organic revenues were $16.0 billion, down 10%. Total orders were $17.0 billion, down 13%; organic orders declined 8%. Analysts expected revenue of $17.52 billion, for the quarter.

GE reiterated its total company outlook for full-year 2021. GE Industrial revenues are expected to grow organically in the low-single-digit range. Adjusted earnings per share is estimated in a range of $0.15 to $0.25.