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GE Reports 4Q’12 Operating EPS $0.44, +13% 4Q Revenues $39.3B +4%, Industrial Organic Growth +8% For Total Year Operating Margins Expand 120 Bps Over 4Q’11, Total Year Up 30 Bps Record Backlog Of $210B

GE (NYSE: GE):

GE CFOA of $7.2B for the quarter, $17.8B for the year, +48%

4Q and Full-Year 2012 Highlights

  • Eleventh consecutive quarter of strong operating earnings growth
    • 4Q Operating EPS of $0.44, up 13%; Full-year operating EPS of $1.52, up 16% (up 10% excluding effects of 3Q’11 preferred stock redemption)
    • 4Q Continuing EPS of $0.41, up 11%; Full-year continuing EPS of $1.39, up 12%
  • Second consecutive quarter with all Industrial segments reporting positive earnings growth
    • Double-digit earnings growth for five of seven Industrial segments
  • 4Q orders up 7% ex. Wind and FX; Growth region orders up 12%
  • Margins up 120 bps over prior year period, increases in all seven Industrial segments
  • GE Capital earned $1.8 billion in 4Q, up 9%; GECC Tier 1 common ratio 10.2%
    • GE Capital 4Q ending ENI balance $419 billion

GE [NYSE: GE] announced today fourth-quarter 2012 operating earnings of $4.7 billion, or $0.44 per share, both up 13% from the fourth quarter of 2011. GAAP earnings from continuing operations were $4.3 billion, or $0.41 per share, up 9% and 11% respectively. Revenues were $39.3 billion for the quarter, up 4%, and $147.4 billion for the year. Industrial segment organic revenue growth was 4% for the quarter and 8% for the year.

“We ended the year with a strong quarter despite the mixed global economic environment,” said GE Chairman and CEO Jeff Immelt. “The outlook for developed markets remains uncertain, but we are seeing growth in China and the resource rich countries. With our largest backlog in history and a substantial amount of cash generated by our businesses in the fourth quarter, we have great momentum going into 2013.”

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