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 mixed Q4 and full-year 2021 results, with revenues declining below analyst expectations despite adjusted profits beating forecasts, primarily attributed to supply chain disruptions.
- The company is progressing with its strategic plan to split into three independent entities focused on healthcare, aviation, and energy, with the aviation segment set to become its main focus by early 2024.
- GE's aviation division demonstrated strong order growth in 2021 and is projected to drive significant recovery in 2022, with anticipated revenue increases exceeding 20% and overall company-wide growth in free cash flow and earnings.
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