--> GE -1.28% pre open 30k shares traded
General Electric reaffirms FY17 guidance; stock -0.7% premarket
- Reaffirms FY17 operating EPS $1.60-1.70 vs. $1.66 CIQ consensus; organic growth +3-5%; margin expansion ~100 bps; FCF + dispositions $16-20 bln; $19-21 bln cash returned to investors ($11-13 bln buyback).
- Q4 highlights
- Equipment orders (10)% organic with Alstom driven by tough comparisons in Transportation; growth in Renewables, O&G, Healthcare, and Aviation
- Service orders +19% organic with Alstom driven by strength in Power, Renewables, and Transportation
- Backlog +2% VPY and 1% versus prior quarter driven by services
- Global dynamics ... U.S. +23%, international developed markets +8%, and growth markets (9)%