Source: Dreamstime
Reading time: 2 minutes
Besides delayed deliveries, the Boston-based industrial conglomerate is also wrestling with inflation, which has led to higher transportation costs and prices of key commodities, such as steel.
Financial performance for Q4 2021
“2021 was an important year for the GE team, marked by significant strategic, operational, and financial progress. We delivered solid margin, EPS, and free cash flow performance in 2021, exceeding our outlook. Orders for the year were up double digits, supporting faster growth going forward.”
Lawrence Culp, Jr., Chairman and CEO
Here’s how General Electric did for the period:
– Total revenue: $20.3 billion (down 3% from a year ago) versus $21.5 billion expected
– Earnings per share: 92 cents versus 85 cents expected
– Total orders: $22.1 billion
– Gross debt: for the period, the company has completed several transactions that allowed it to reduce its gross debt down to $35 billion from the initial $60 billion
– Announced split: going forward, General Electric will split into three public companies focusing on the aviation, healthcare, and energy sectors.
Outlook for Q1 2022 and beyond
“Our dramatic debt reduction means we can further intensify efforts to strengthen our operations and play offence, setting us up to deliver between $5.5 to $6.5 billion in free cash flow in 2022 and more than $7 billion in 2023.”
Lawrence Culp, Jr.
Despite the headwinds it experienced throughout 2021, General Electric remains confident that it will deliver a better return on investment thanks largely to its aviation revenue, which as of late has grown by more than 20%. This is no surprise as its aviation business is tasked with creating jet engines for no other than Boeing and Airbus.
Going forward, General Electric expects profits to range between $2.80 and $3.50 per share, compared with the $1.71 that it reported last year. When it comes to free cash flow, it estimates full-year figures of about $5.5 billion to $6.5 billion, which would once again be a significant boost compared to the $2.6 billion reported for the entirety of 2021.
Upcoming reports
See the full list of upcoming earnings reports for 24-28 January in the tables below.
Monday, 24th January 2022
| Country | Company | Fiscal period |
|---|---|---|
| USA | International Business Machines Corp | Q4 2021 |
| USA | Halliburton Co | Q4 2021 |
| United Kingdom | Go-Ahead Group PLC | Full Year 2021 |
| Kingdom of the Netherlands | Koninklijke Philips NV | Q4 2021 |
Tuesday, 25th January 2022
| Country | Company | Fiscal period |
|---|---|---|
| Canada | Canadian National Railway Co | Q4 2021 |
| USA | Capital One Financial Corp | Q4 2021 |
| USA | Texas Instruments Inc | Q4 2021 |
| USA | Microsoft Corp | Q2 2022 |
| USA | 3M Co | Q4 2021 |
| USA | Johnson & Johnson | Q4 2021 |
| USA | General Electric Co | Q4 2021 |
| USA | Lockheed Martin Corp | Q4 2021 |
| USA | Xerox Holdings Corp | Q4 2021 |
| USA | American Express Co | Q4 2021 |
| USA | Verizon Communications Inc | Q4 2021 |
| USA | Paccar Inc | Q4 2021 |
| USA | Las Vegas Sands Corp | Q4 2021 |
| Sweden | Telefonaktiebolaget LM Ericsson | Q4 2021 |
Wednesday, 26th January 2022
| Country | Company | Fiscal period |
|---|---|---|
| USA | Xilinx Inc | Q3 2022 |
| USA | Tesla Inc | Q4 2021 |
| USA | Lam Research Corp | Q2 2022 |
| USA | Whirlpool Corp | Q4 2021 |
| USA | Vertex Pharmaceuticals Inc | Q4 2021 |
| Ireland | Seagate Technology Holdings PLC | Q2 2022 |
| USA | Intel Corp | Q4 2021 |
| USA | SLM Corp | Q4 2021 |
| Canada | Celestica Inc | Q4 2021 |
| USA | Levi Strauss & Co | Q4 2021 |
| USA | Kimberly-Clark Corp | Q4 2021 |
| USA | AT&T Inc | Q4 2021 |
| USA | Boeing Co | Q4 2021 |
| USA | General Dynamics Corp | Q4 2021 |
| USA | Norfolk Southern Corp | Q4 2021 |
| USA | Abbott Laboratories | Q4 2021 |
| USA | Progressive Corp | Report for December 2021 |
| USA | Automatic Data Processing Inc | Q2 2022 |
| USA | Corning Inc | Q4 2021 |
| USA | Freeport-McMoRan Inc | Q4 2021 |
| USA | Anthem Inc | Q4 2021 |
| Norway | Gjensidige Forsikring ASA | Q4 2021 |
Thursday, 27th January 2022
| Country | Company | Fiscal period |
|---|---|---|
| USA | Mondelez International Inc | Q4 2021 |
| USA | United States Steel Corp | Q4 2021 |
| USA | Visa Inc | Q1 2022 |
| USA | Western Digital Corp | Q2 2022 |
| USA | Apple Inc | Q1 2022 |
| USA | Juniper Networks Inc | Q4 2021 |
| USA | Robinhood Markets Inc | Q4 2021 |
| USA | Eastman Chemical Co | Q4 2021 |
| USA | KLA Corp | Q2 2022 |
| France | LVMH Moet Hennessy Louis Vuitton SE | Full Year 2021 |
| USA | Blackstone Inc | Q4 2021 |
| USA | McDonald's Corp | Q4 2021 |
| USA | Comcast Corp | Q4 2021 |
| USA | Altria Group Inc | Q4 2021 |
| USA | Nucor Corp | Q4 2021 |
| USA | Northrop Grumman Corp | Q4 2021 |
| USA | Valero Energy Corp | Q4 2021 |
| USA | Marsh & McLennan Companies Inc | Q4 2021 |
| USA | International Paper Co | Q4 2021 |
| USA | Mastercard Inc | Q4 2021 |
| South Korea | Samsung Electronics Co Ltd | Q4 2021 |
| Italy | UniCredit SpA | Full Year 2021 |
| Switzerland | STMicroelectronics NV | Q4 2021 |
| Germany | SAP SE | Full Year 2021 |
| Germany | Deutsche Bank AG | Preliminary Q4 2021 |
| Germany | Software AG | Q4 2021 |
| Norway | PGS ASA | Q4 2021 |
| United Kingdom | Mitie Group PLC | Q3 2022 |
| United Kingdom | IG Group Holdings PLC | Half Year 2022 |
| United Kingdom | Diageo PLC | Half Year 2022 |
| Sweden | Skandinaviska Enskilda Banken AB | Q4 2021 |
| Cyprus | Polymetal International PLC | Q4 2021 |
Friday, 28th January 2022
| Country | Company | Fiscal period |
|---|---|---|
| USA | Colgate-Palmolive Co | Q4 2021 |
| USA | Chevron Corp | Q4 2021 |
| USA | Caterpillar Inc | Q4 2021 |
| USA | Weyerhaeuser Co | Q4 2021 |
| Sweden | Volvo AB | Q4 2021 |
| Sweden | Electrolux AB | Q4 2021 |
| Sweden | Telia Company AB | Q4 2021 |
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