General Electric is expected to report its fourth-quarter earnings before the bell on Wednesday, in a filing Wall Street is watching closely.
This will be the second quarterly report for GE under CEO John Flannery, amidst a tumultuous period for the company. Shares of GE slipped to nearly $16 on Monday, the lowest in six years.
- EPS: 29 cents per share, according to Thomson Reuters.
- Revenue: $34.06 billion, according to Thomson Reuters.
The knife continues to fall unabated at GE, with 2018 bringing additional nasty updates for investors. The company announced on Jan. 16 it would take a $6.2 billion charge in the fourth quarter after a review of its GE Capital insurance portfolio. Many expect GE is looking to split up the company, possibly as early as this spring.
Investors are evaluating GE’s value through sum-of-the-parts analyses, looking to find which segments of the company have the legs to stand alone. According to FactSet, eight firms updated the price target on GE shares in the week before its fourth-quarter earnings — and all of them lower. Bank of America Merrill Lynch, which downgraded the stock Monday to neutral from buy, wrote in a note that the firm expects GE to slash its 2018 outlook when GE reports its earnings.
The company’s stock has declined more than 43 percent over the past year as of Monday’s close, making it the worst performing stock among the Dow Jones industrial average.
This is breaking news. Please check back for updates.
