General Electric (NYSE:GE) saw revenues decline 3 percent in the fourth quarter from the same period in 2020, the company said during its earnings call Tuesday.
The company also reported a 2 percent drop for all of 2021.
GE Sees Small Drop in Q4 Earnings; Aviation Division Remains Strong
Key Takeaways:
- General Electric reported a decline in Q4 and full-year 2021 revenues, largely due to supply chain disruptions, though its adjusted quarterly profit per share exceeded analyst predictions.
- The company is undergoing a major strategic transformation, splitting into three independent entities—healthcare, aviation, and energy—with aviation becoming its main focus by early 2024.
- Despite overall revenue dips, GE's aviation division showed strong order growth and is projected to see over 20% revenue increase in 2022, driven by commercial air travel recovery.
- Looking forward, GE anticipates substantially higher profits and free cash flow in 2022 and 2023, leveraging business simplification and market recovery, alongside planned price increases.
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