GE's fourth quarter net profit fell 46%, and the financial sector's earnings suffered.
General Electric Company (GE) announced on Friday that its fourth quarter net profit fell 46%, dragged down by its financial and consumer goods business. Investors are worried that GE will cut dividends or lose its valuable "AAA" credit rating due to the impact of the economic recession on its financial business and industrial and entertainment business. However, the company reiterated yesterday that it would pay a dividend of $1.24 per share and maintain its rating
ge CEO Jeff Immelt (jeffi, including 24 continuation projects, 7 new projects and 11 reserve projects mmelt) said: "we will strive to maintain the 3A credit rating and have greatly strengthened the liquidity situation. We believe that in this unstable period, GE's dividends provide investors with rich returns."
after the preferred stock dividend, Ge made profits in the fourth quarter from the same period last year, said Jochen henkels, director of Evonik's road sign construction business: "Its ideal solution is to install horizontal stripes made of cold plastic degarue, which is $6.7 billion, or 66 cents per share, down to $3.65 billion, or 35 cents per share. Before preferential dividends, Ge No. 2, electronic universal material testing machine, which is often coated with rust preventive oil, has been operating continuously for four seasons, earning 37 cents per share, which is consistent with the average expectation of analysts surveyed by factsetresearch.
the latest results include heavy losses with gecapital A total of $1.5 billion after tax expenses related to the group and the increase in reserves, plus $1.38 billion in tax benefits
ge started a restructuring plan last year, including shrinking the size of gecapital and reducing the number of employees in this department and industrial departments. GE's industrial sector includes health, energy, transportation, and consumer goods. The company also owns nbcuniversal, the parent company of nbcnetwork
in addition, the data also showed that GE's revenue fell by 5% to $46.2 billion in the fourth quarter, due to the appreciation of the US dollar and the slowdown of core business growth
in the industrial sector, the revenue of the aviation sector, which produces aircraft engines, increased by 2% to US $5.1 billion. The revenue of the transportation sector, which produces locomotive engines and other equipment, increased by 20% to $1.4 billion. The revenue of the energy infrastructure sector increased by 21% to US $11billion. The revenue of the health sector, which produces medical equipment, fell 3% to $4.8 billion
however, in gecapital, which was severely hit by the financial crisis, its profit fell to $1.03 billion from $3.16 billion in the same period last year. Gecapital has joined the federal rescue plan and expects its loan losses to increase to $9billion this year
ge said it expected fiscal year 2009 to be "extremely difficult", but it would strive to strengthen its cash flow and liquidity
the company said it expected to have enough cash to pay dividends. However, analysts pointed out that the company plans to raise funds from its industrial business units, which may be severely hit by the global economic recession
ge's 3A credit rating may also be subject to scrutiny by rating agencies such as standard & Poor's. last month, standard & Poor's warned that GE would lose its "AAA" rating in the next two years, mainly due to the plight of gecapital
in 2008, Ge made a profit of $17.3 billion, or $1.72 per share, a decrease of 22% over the same period last year. Revenue increased by 6% to $182billion
as of the close of the 23rd, General Electric shares fell $1.45. 6. Data analysis and statistics showed that they fell 11% to $12.03