The consensus fourth-quarter revenue estimate for General Electric is $38.715 billion, increasing from $36.349 billion in the third quarter, and $37.973 billion, a year earlier. Coe trails the consensus, estimating third-quarter revenue of $37.948 million, with year-over-year declines in the Power & Water, Transportation and the GE Capital segments (driven by "asset attrition"), partially offset by revenue increases in the Oil & Gas, Energy Management, Aviation, Healthcare and Home & Business Solutions segments. Barclays analyst Scott Davis on Jan. 10 estimated that GE's fourth-quarter revenue will total $39.026 billion, with revenue growth across all segments, except for GE Capital, for which he expects a 3% decline.
Power & Water
Coe estimates that segment fourth-quarter revenue will decline by 5% year-over-year, to $7.134 billion, with a decline in gas turbine shipments to 31 from 33, a decline of more than 20% in "in Aeroderivative shipments (38) and lower balance of plant revenues. Coe also said that "in Wind, we expect 750 turbine shipments vs. 1,014 in 3Q12 and 688 in 4Q11, driving 10% Y/Y Wind revenue growth."