Fourth quarter 2021 (prior three-column reporting format1; variances on a year-over-year basis)
Total orders
Total revenues (GAAP)
Industrial profit margin (GAAP) 1.1%, (1,330) bps; adjusted Industrial profit margin* 9.0%, +280 bps org.*
Continuing EPS (GAAP)
GE Industrial CFOA (GAAP)
Full year 2021 (prior three-column reporting format1; variances on a year-over-year basis)
Total orders
Total revenues (GAAP)
Industrial profit margin (GAAP) 1.8%, (820) bps; adjusted Industrial profit margin* 6.8%, +390 bps org.*
Continuing EPS (GAAP)
GE Industrial CFOA (GAAP)
Culp continued, "We're seeing real momentum and opportunities for sustainable profitable growth from near-term improvements in
Announced plans to form three independent, investment-grade, industry-leading companies focused on the growth sectors of aviation, healthcare, and energy.
Solidified financial position by completing the GECAS transaction and a
Drove innovation and reinvested for growth, delivering technologies that transform lives:
Please visit our investor website for full information:
1Based on prior three-column reporting format, which showed Industrial operations separately from financial services operations
2Includes borrowings, after tax pension & principal retiree benefit plan liabilities, operating leases, 50% preferred stock, and factoring
3As of
*Non-GAAP Financial Measure
Caution Concerning Forward Looking Statements:
This release and certain of our other public communications and
For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include:
- our success in executing and completing asset dispositions or other transactions, including our plan to pursue spin-offs of our Healthcare business and our combined
- the continuing severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic, of businesses' and governments' responses to the pandemic and of individual factors such as aviation passenger confidence on our operations and personnel, on commercial activity and demand across our and our customers' businesses, and on global supply chains;
- the extent to which the COVID-19 pandemic and related impacts, including global supply chain disruptions and price inflation, will continue to adversely impact our business operations, financial performance, results of operations, financial position, the prices of our securities and the achievement of our strategic objectives;
- changes in macroeconomic and market conditions and market volatility (including developments and volatility arising from the COVID-19 pandemic), including inflation, interest rates, the value of securities and other financial assets (including our equity ownership positions in
- our de-leveraging and capital allocation plans, including with respect to actions to reduce our indebtedness, the timing and amount of
- downgrades of our current short- and long-term credit ratings or ratings outlooks, or changes in rating application or methodology, and the related impact on our liquidity, funding profile, costs and competitive position;
- our liquidity and the amount and timing of our cash flows and earnings, which may be impacted by customer, supplier, competitive, contractual and other dynamics and conditions;
- capital and liquidity needs associated with our financial services operations, including in connection with run-off insurance operations and Bank BPH, the amount and timing of any required capital contributions and any strategic actions that we may pursue;
- global economic trends, competition and geopolitical risks, including changes in the rates of investment or economic growth in key markets we serve, or an escalation of sanctions, tariffs or other trade tensions between the
- market developments or customer actions that may affect demand and the financial performance of major industries and customers we serve, such as secular, cyclical and competitive pressures in our Power business; pricing, the timing of customer investment and other factors in renewable energy markets; demand for air travel and other dynamics related to the COVID-19 pandemic; conditions in key geographic markets; and other shifts in the competitive landscape for our products and services;
- operational execution by our businesses, including the success in improving operational performance at our Renewable Energy business, and the performance of our Aviation business amidst the ongoing market recovery;
- changes in law, regulation or policy that may affect our businesses, such as trade policy and tariffs, regulation and incentives related to climate change (including extension of the
- our decisions about investments in research and development, and new products, services and platforms, and our ability to launch new products in a cost-effective manner;
- our ability to increase margins through implementation of operational changes, restructuring and other cost reduction measures;
- the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of
- the impact of actual or potential failures of our products or third-party products with which our products are integrated, and related reputational effects;
- the impact of potential information technology, cybersecurity or data security breaches at
- the other factors that are described in "Risk Factors" in our Annual Report on Form 10-K for the year ended
These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
This release includes certain forward-looking projected financial information that is based on current estimates and forecasts, and actual results could differ materially. Refer also to the webcast of our investor conference later this morning for additional discussion of our outlook and uncertainties that could cause our future results to be different than our current expectations.
Our financial services business is operated by
Additional Financial Information
Additional financial information can be found on the Company's website at: www.ge.com/investor under Events and Reports.
Conference Call and Webcast
About
For IR inquiries, please contact:
Vice President, Investor Relations
617.443.3400
For media inquiries, please contact:
Director,
+1 202 304 6514
Senior Manager,
1 857 303 3079
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