https://www.reuters.com/article/us-ge-results-preview-idUSKCN24T25G
4 replies (most recent on top)
You missed the key part: GE did better than expected because of aggressive cost cut...
Also because Baker Hughes stock price went up a little, contributing to like 0.18 EPS, but don’t worry it would be gone within 3 years, after you get laid off in next quarter’s aggressive cost cut
Summary of the 2nd quarter 2020 earnings: Bad news first. GE had a 20% decline in revenue, a negative $2.1 billion free cash flow, and a negative $0.15 earnings per share. The good news: GE did better than expected.
I see big layoffs in Healthcare during the 3rd quarter. It's begun already from my understanding. No one is flying. Aviation will be stagnant at best. Power and the rest do not look good, either. 2020 is toast. Maybe next year we will see improvement.
The Zack Consensus Estimate for General Electric’s per share is pegged at $-0.14 cents. Not good. Refinitiv is calling for -$0.10 in adjusted earnings per share for the second quarter of 2020, and if GE is brave enough to offer very specific guidance (unlikely) it is expected to post only a -$0.01 EPS reading for the third quarter. Again, the state of GE is just not an earnings story at the current time.
We will find out at 8:00am tomorrow.