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 revenue decline for Q4 and full-year 2021, falling short of analyst revenue predictions, yet it exceeded adjusted profit per share estimates despite ongoing supply chain disruptions.
- The company is proceeding with its plan to split into three independent public entities focused on healthcare, aviation, and energy, with aviation slated to become its primary focus by early 2024.
- GE's aviation division showed strong order growth for 2021 and anticipates over a 20% revenue increase in 2022, contributing to an overall company forecast of higher profits and free cash flow for the coming years.
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