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   Wednesday, January 24, 2018 6:30:00 AM ET

BOSTON - January 24, 2018 - GE (NYSE:GE) announced results today for the fourth quarter of 2017.

GE Chairman and CEO John Flannery said, “In the fourth quarter, EPS was at the low-end of guidance, excluding insurance-related items, U.S. tax reform, and industrial portfolio actions. Cash performance was above expectations and our visibility and execution on cash is improving.  Aviation and Healthcare had strong performances in the quarter. Power was down significantly and we expect market challenges to continue. Our results this quarter demonstrate some of the early progress we are seeing from our key initiatives. The team is focused on operational execution, capital allocation and deep cost reduction to position us for continued improvement in 2018.”

  • • 4Q’17 continuing operations EPS (GAAP) of $(1.15); full-year of $(0.68)
  • • 4Q’17 Industrial operating + Verticals EPS (non-GAAP) of $(1.23); full-year of $(0.45)
  • • Industrial + Verticals at low end of guidance excluding $(1.49) of charges for insurance-related items $(0.91), the Tax Cuts and Jobs Act (“U.S. tax reform”) $(0.40), and industrial portfolio items $(0.18)
  • • 4Q’17 GE CFOA of $7.0 billion; adjusted Industrial CFOA-a) (non-GAAP) of $7.8 billion; full-year adjusted Industrial CFOA of $9.7 billion
  • • Power continues to be challenging, Power segment profit down 88%
  • • Strong performance in Aviation and Healthcare
  • • $1.7 billion of structural cost-b) (non-GAAP) out in 2017

For the full press release, please go here

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