COVID-19 stellte die Ergebnisse des ersten Quartals in Frage; rasche Maßnahmen ergreifen, um die Auswirkungen abzuschwächen und die Finanzlage zu festigen

GE ANNOUNCES FIRST QUARTER 2020 RESULTS

(WK-intern) – COVID-19 challenged first-quarter results; taking swift action to mitigate impact and solidify financial position

• Total orders $19.5B, (5)%; organic orders (3)%
• Total revenues (GAAP) $20.5B, (8)%; Industrial organic revenues* $18.9B, (5)%
• Industrial profit margin (GAAP) of 34.9%, +2,960 bps; adjusted Industrial profit margin* 5.8%, (410) bps
• Continuing EPS (GAAP) of $0.72, including a $11.1 billion after-tax gain following the sale of BioPharma and a $4.6 billion after-tax unrealized loss on marking
• GE’s investment in Baker Hughes to market; adjusted EPS* $0.05
  GE CFOA (GAAP) $(1.7)B; Industrial free cash flow* $(2.2)B
• BOSTON — April 29, 2020 — GE (NYSE:GE) announced results today for the first quarter ending March 31, 2020.

GE Chairman and CEO H. Lawrence Culp, Jr. said, “During this unprecedented pandemic, the GE team is focused on protecting the safety of our employees and communities, serving customers in their critical time of need, and preserving our strength for the long term. GE is delivering critical infrastructure and services across the globe, including our teams at Healthcare supporting caregivers who diagnose and treat COVID-19 patients every day.“

Culp continued, “The impact from COVID-19 materially challenged our first-quarter results, especially in Aviation, where we saw a dramatic decline in commercial aerospace as the virus spread globally in March. We are targeting more than $2 billion in operational cost out and $3 billion of cash preservation to mitigate the financial impact, and we executed a series of actions to de-risk and de-lever our balance sheet amid a challenging environment. While there are many unknowns, there will be another side—planes will fly again, healthcare will normalize and modernize, and the world still needs more efficient, resilient energy. We’re embracing today’s reality and accelerating our multi-year transformation to make GE a stronger, nimbler, and more valuable company.“

Read the full results on GE’s Investor Relations website.

Please visit our investor website for full information:

• Full press release
• Presentation

This release and certain of our other public communications and SEC filings may contain statements related to future, not past, events. These forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as „expect,“ „anticipate,“ „intend,“ „plan,“ „believe,“ „seek,“ „see,“ „will,“ „would,“ „estimate,“ „forecast,“ „target,“ „preliminary,“ or „range.“ Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the potential impacts of the COVID-19 pandemic on our business operations, financial results and financial position and on the world economy; our expected financial performance, including cash flows, revenues, organic growth, margins, earnings and earnings per share; macroeconomic and market conditions and volatility; planned and potential business or asset dispositions; our de-leveraging plans, including leverage ratios and targets, the timing and nature of actions to reduce indebtedness and our credit ratings and outlooks; GE’s and GE Capital’s funding and liquidity; our businesses’ cost structures and plans to reduce costs; restructuring, goodwill impairment or other financial charges; or tax rates.

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