{"id":163315,"date":"2021-01-26T17:51:34","date_gmt":"2021-01-26T14:51:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/general-electric-upbeat-on-2021-after-profitable-2020\/"},"modified":"2021-01-26T17:51:34","modified_gmt":"2021-01-26T14:51:34","slug":"general-electric-upbeat-on-2021-after-profitable-2020","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/general-electric-upbeat-on-2021-after-profitable-2020\/","title":{"rendered":"#General Electric upbeat on 2021 after profitable 2020"},"content":{"rendered":"

“#General<\/a> Electric upbeat on 2021 after profitable 2020<\/strong>”<\/p>\n

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\"General
\n General Electric reported a profitable 2020 after three straight annual losses
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General Electric scored higher fourth-quarter orders in key industrial segments as it reported a profitable 2020 and eyes further improvement in 2021, according to results Tuesday.<\/p>\n

The industrial giant, which has been in turnaround mode following losses the prior three years, projected a jump in adjusted profit margins in 2021 on anticipated improvement in the macroeconomy with widespread use of coronavirus vaccines.<\/p>\n

“Over the past year our team proved resilient, and momentum is growing across our businesses,” Chief Executive Lawrence Culp said. <\/p>\n

“We are in leading positions to capture opportunities in the energy transition, precision health, and the future of flight.”<\/p>\n

In the fourth quarter, GE reported $2.4 billion in profits, more than four times the level in the year-ago period, reflecting the benefits of cost-cutting initiatives.<\/p>\n

Revenues fell 14 percent to $22.1 billion.<\/p>\n

GE reported earnings of $5.2 billion for all of 2020, compared with a loss of $5.4 billion the prior year.<\/p>\n

The latest batch of quarterly results included a jump in orders in the power segment to $5.6 billion, which was above the level in the third quarter as well as the 2019 fourth quarter. <\/p>\n

Problems with the power division have been at the heart of GE’s multi-year slump, during which it replaced its CEO twice and was tossed from the prestigious Dow index.<\/p>\n

In the latest quarter, GE also scored an increase in orders in its renewable energy business. However, orders were lower in aviation amid an ongoing industry downturn due to Covid-19, and in healthcare, following a divestiture.<\/p>\n

Shares of GE gained 6.4 percent to $11.69 in pre-market trading.\n <\/p>\n\n

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GE reports smaller loss, shares rise\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n General Electric upbeat on 2021 after profitable 2020 (2021, January 26)
\n retrieved 26 January 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-01-electric-upbeat-profitable.html<\/p>\n

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