GENERAL ELECTRIC 851144 - So günstig wie noch nie (Seite 256)

[brsenbrian]

GE announced today first-quarter 2009 earnings from continuing operations (attributable to GE) of $2.8 billion, or $.26 per share attributable to common shareowners, down 40% from first quarter 2008. First-quarter 2009 revenues from continuing operations were $38.4 billion, down 9% year-over-year.

“In a recessionary environment impacting every segment of the economy, we delivered first-quarter business results consistent with our GE Capital investor meeting on March 19th and the framework provided last December, which included a smaller but still-profitable GE Capital and 0-5% earnings growth in our Industrial segments,” GE Chairman and CEO Jeff Immelt said. “Amid a continued weak economy, we’re performing well and our backlog remains strong.

“Infrastructure and Media earnings together were flat versus last year. Energy Infrastructure grew earnings by 19% while Technology Infrastructure had earnings growth of 6%. While Cable continued to deliver double-digit growth, NBC Universal had a tougher performance overall due to a soft advertising market and fewer major DVD releases compared to a year ago.

“Despite the difficult economy, we generated $19 billion in Infrastructure orders, a decline of 10%. Importantly, high-margin service orders grew 7%. Major equipment and service backlog held approximately flat at $171 billion vs. year-end 2008 and was up 6% versus a year ago.

“Capital Finance earned $1.1 billion in the quarter and remains on track to be profitable for the full year,” Immelt said. “Revenues and profitability declined year-over-year in our financial services business and we continue to experience rising delinquencies. However, we have taken prudent actions to address these challenges, including tightening risk requirements, improving liquidity and reducing leverage. Also, questions about credit ratings have been resolved. We still have a strong rating and our outlook is stable.”

On balance, positive items were mostly offset by charges in the quarter. The Company realized a $0.3 billion after-tax net benefit from transaction gains, marks and impairments and an incremental $0.2 billion tax benefit, which were mostly offset by $0.4 billion in after-tax restructuring and other charges. First-quarter results do not include any impact from the newly issued mark-to-market accounting rules, which we will implement, as required, in the second quarter 2009.

“We are aggressively managing our cost structure to respond to challenging global economic conditions,” Immelt said. “For 2009, we will reduce our costs by more than $5 billion. We’ve reduced headcount and are managing company operations more efficiently, leading to improved operating leverage in our infrastructure businesses.”

First Quarter 2009 Financial Highlights:

Earnings from continuing operations attributable to GE were $2.8 billion, down 35% from $4.4 billion in the first quarter of 2008. EPS from continuing operations was $.26, down 40% from last year. Segment profit fell 27% in the quarter, as strong 19% growth at Energy Infrastructure was more than offset by a 58% decline at Capital Finance and a 45% decrease at NBC Universal.

Including the effects of discontinued operations, first quarter net earnings attributable to GE were $2.8 billion ($.26 per share) in 2009 and $4.3 billion ($.43 per share) in the first quarter of 2008.

Revenues fell 9% to $38.4 billion. GE Capital Services’ (GECS) revenues fell 20% over last year to $14.4 billion. Industrial sales were $24.0 billion, down 1% from the first quarter of 2008. Industrial organic revenue held steady year over year.

Cash generated from GE operating activities in the first quarter of 2009 totaled $2.8 billion, down 42% from last year, primarily reflecting the lack of a GECS dividend payment in 2009 and lower progress collections, which were offset by improvements in working capital. Historically, the Company has generated approximately 18% of its full-year cash flow in the first quarter. GE is on track to meet its full-year cash flow plan.

“We are running GE for the long term. Over the last six months, we have made the difficult decisions to raise equity and cut the dividend to keep GE safe and secure,” Immelt said. “On March 19, we conducted a ‘deep dive’ into GE Capital that demonstrated the strength of our team and our commitment to transparency. Estimated stress-test results showed that we do not need to raise additional capital even in the Fed’s adverse-case scenario.

“Meanwhile, we are investing in growth, while lowering cost and generating cash. We see great opportunity in a global economy that favors clean energy, affordable healthcare and services that drive customer productivity. GE is positioning itself to lead in this reset economy.”

GE will discuss preliminary first-quarter results on a conference call and Webcast at 8:30 a.m. ET today. Call information is available at www.ge.com/investor, and related charts will be posted there prior to the call.

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.

Caution Concerning Forward-Looking Statements:

This document contains “forward-looking statements”- that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of U.S. and foreign government programs to restore liquidity and stimulate national and global economies; the impact of conditions in the financial and credit markets on the availability and cost of GE Capital’s funding and on our ability to reduce GE Capital’s asset levels and commercial paper exposure as planned; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the soundness of other financial institutions with which GE Capital does business; the adequacy of our cash flow and earnings and other conditions which may affect our ability to maintain our quarterly dividend at the current level; the level of demand and financial performance of the major industries we serve, including, without limitation, air and rail transportation, energy generation, network television, real estate and healthcare; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks; strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These 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.

[Cartman24.]

Antwort auf Beitrag Nr.: 36.983.323 von KingsGambit am 16.04.09 20:21:28

Die Dividende ist doch auf 10 Dollarcent gekürzt worden.

[Powerjogger]

Antwort auf Beitrag Nr.: 36.983.323 von KingsGambit am 16.04.09 20:21:28

Läuft doch alles. 9,40 Euro. Tendenz strikt Richtung 10 Euro.
Alles bestens.

[KingsGambit]

Wow, 21 Cent Gewinn bei 39B Einnahmen, das ist schon ein heftiger Abschlag gegenüber dem letzten Quartal. (Wenn man bedenkt dass man > 30 Cent Dividende für die ersten Quartale zahlt)
Bin mal gespannt ob es wirklich so heftig kommt.

[brsenbrian]

Zahlen schon mal vorbörslich!

WASHINGTON (AP) -- General Electric Co. is scheduled to report its first-quarter financial results Friday, April 17, before the market opens. Below is a summary of key developments and analyst opinion related to the period.
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OVERVIEW: Fairfield, Conn.-based GE has a stake in almost every sector of a U.S. economy in a severe recession. It builds turbines for power plants and high-tech medical machines. Jetliners use GE engines. When homeowners remodel, GE's stainless steel ovens and refrigerators anchor their kitchens. And many people still screw GE light bulbs into their living room lamps.

GE is also a barometer of the health of the financial world through its lending arm GE Capital. The unit, which until recently made up about half of GE's profit, has suffered from growing losses in areas like credit card lending and commercial real estate during the financial crisis.

During the first quarter, GE slashed its dividend for the first time in 60 years and lost its top credit ratings during the quarter largely because of GE Capital's growing losses in areas like credit cards and commercial real estate.

While the company spent most of the first quarter trying to calm fears about its finance business, it will also need to reassure investors that it's industrial division is weathering the deep downturn and is healthy enough to overcome GE Capital's woes. GE expects its industrial businesses to earn up to $5 billion this year, while GE Capital may just break even.

GE is also laying off workers, though it hasn't provided a companywide figure. Cutbacks have come at units including GE Capital, the healthcare equipment, and GE's transportation division.

BY THE NUMBERS: Analysts polled by Thomson Reuters expect quarterly earnings of 21 cents per share on revenue of $39 billion.

ANALYST TAKE: Analysts predict GE will report lower sales for equipment like jet engines, high tech medical equipment, microwave ovens and light bulbs, a sign of depressed demand from consumers and businesses during the recession.

There may be a few bright spots. GE's business making turbines for power plant, energy generating windmills and equipment for a new energy saving power grid is expected to report relatively strong earnings that some analysts believe will be a big reason GE will turn a profit in the quarter.

Utilities are expanding their plants, analysts said, driving the need for new turbines. GE is also selling 56 gas turbines to Iraq, a $3 billion deal signed in December. It could also benefit from the $787 billion stimulus package, which includes money for clean energy like windmills.

"GE needs to see solid performance coming out of energy," said Joel Levington, director of corporate credit for Hyperion Brookfield Asset Management in New York.

WHAT'S AHEAD: GE Capital remains a major concern. Following a nearly 60-percent drop in its 2009 share price by early March, GE Capital gave investors an exhaustive look at its books to convince them that it wasn't hiding big losses and would not need more capital.

GE has said GE Capital will be profitable this quarter, but analysts say that will only be because of tax benefits connected to reserves set aside to cover potential loan losses. Before those tax benefits are factored in, Nigel Coe of Deutsche Bank estimated GE Capital would post a loss of $600 million, well down from $2.5 billion in 2008 first quarter earnings.

STOCK PERFORMANCE: GE's stock fell sharply during the first three months of 2009, dropping as low as $5.72 in March after opening the year at $16.20. Shares recovered late in March to close the quarter at $10.11, but were still down nearly 40 percent from the start of the year. By comparison, the 30-stock Dow Jones Index, which includes GE, was down only about 10 percent.

[brsenbrian]

Abwarten ich denke das der Wert völlig unterbewertet ist. Die Überreaktion vor drei Monaten muss korrigiert werden, so hoffe ich. Hoffe das die Zahlen besser sind als erwartet.

[impyer]

Antwort auf Beitrag Nr.: 36.975.591 von KingsGambit am 15.04.09 21:57:33

Ich schätze das wir einen Umsatzstabiliesierung sehen und 50 cent pro Aktien durchaus denkbar seien.

Es sprechen dafür auch die Auftragseingänge und Verträge der letzten Monate.

GE C. wird für mich nur ein Nullrunden läufer dieses und nächstes Jahr.

Doch sehe ich großes potenizal in der Infrastruktursparte/Energiesparte, wird wärend der Krise den größten und massivsten Gewinn einfahren, da auch die Konjukturpakete nun erste Projekte finazieren.

Die Medizintechnik wird lau nach ersten Berichten, doch das kann sich im laufenden Jahr noch ändern.

Ich gehe davon aus das wir dieses und nächstes jahr keine großen Sprünge sehen werden in den Umsatzzahlen, weder weit nach unten, noch weit nach oben.

Ich bin schon sehr gespannt auf Freitag.

mfg impyer

[KingsGambit]

Prognosen für Freitag ?
Wenn ich die Abschwächung der letzten Quartale hochrechne, komme ich auf so etwas wie 32 Cent pro Aktie bei einem Umsatz von ungefähr 44B.

[brsenbrian]

Man muss sich mal den 10 Jahreschart anschauen. Der Wert ist so ausgebombt. 200% sind da drin long. Meine Meinung keine Kaufempfehlung.

[KingsGambit]

Am Freitag werden wir sehen wo der Zug kurzfristig hingeht. Einiges wurde ja bereits auf der Konferenz zu GE Capital angedeutet, z.B. eine eher mager laufende Medizinsparte und eine gut laufende Energiesparte.
Der Kursanstieg ist sicher im Zuge der Bank-Aktien zu erklären, schliesslich wurde GE zusammen mit den Banken abgestraft und profitiert nun von dem Hype der Banken-Aktien. Da kann einem schon schwindelig werden, wenn man sich ausrechnet um vieviele Milliarden die MarktCap von GE jeden Tag variiert.