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General Electric Co - Stock Quote GE

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Morningstar's General Electric Co Stock Analysis

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GE’s Messy Q1 Print Calls Company’s Forecast Into Question; We Reduce FVE by 5% to $126

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

We were disappointed by narrow-moat-rated General Electric’s first-quarter performance, even accounting for well-documented supply chain and inflationary pressures. GE’s first quarter is traditionally weaker, but even so, renewables and healthcare operating margins were an eye sore, and we’re skeptical that these two businesses will be anywhere near GE’s aspirations earlier this year at outlook, despite the mixed signals provided by management. Therefore, we reduce our fair value estimate by 5% to $126.

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General Electric Co's Company Profile

Business Description

GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel, precision health, and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, onshore and offshore wind turbines, as well as medical diagnostic and mobile equipment. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by former Danaher alum Larry Culp who is leading a multi-year turnaround of the storied conglomerate based on Lean principles.

Contact
5 Necco Street
Boston, MA, 02210
T +1 617 443-3000
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 168,000