general electric earnings q4 2017


General Electric fell short of Wall Street’s expectations as it reported its fourth-quarter earnings Wednesday but offered up a stronger than expected outlook for 2018.

This was the second quarterly report for GE under CEO John Flannery, amidst a tumultuous period for the company. Shares of GE slipped to nearly $16 on Monday, the lowest in six years.

GE expects adjusted earnings per share to be between $1 and $1.07 in 2018.

“Our results this quarter demonstrate some of the early progress we are seeing from our key initiatives,” said GE CEO John Flannery, in the company’s press release. “The team is focused
on operational execution, capital allocation and deep cost reduction to position us for continued improvement in 2018.”

The company says its cash performance in the latest period was better than expected. GE removed $1.7 billion in structural costs in 2017, and its targeting to remove another $2 billion in 2018.

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