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 both Q4 and full-year 2021 but exceeded adjusted profit per share expectations, attributing challenges to supply chain disruptions despite strong overall orders.
- The company is moving forward with its plan to split into three separate entities (healthcare, aviation, energy), with aviation becoming the primary focus by early 2024.
- GE's aviation division showed significant order growth in 2021 and maintains a substantial equipment and service backlog, with projections for over 20% revenue growth in 2022 as commercial air travel recovers.
- Looking ahead, GE anticipates improved profits and free cash flow in 2022, driven by business simplification, strategic price increases, and strengthening end markets.
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