Posted by:
GE Announces Q2 2019 Results
Official Press Release GE:
GE Announces Second Quarter 2019 Results
GE Renewable Energy: Orders of $3.7 billion were up 35% reported and 38% organically, with onshore orders up 87% reported driven by North America.
Revenues of$3.6 billion were up 26% reported and 33% organically. Segment profit of negative $184 million was driven by joint venture consolidation, higherlosses on legacy contracts, challenging Onshore project execution in Asia Pacific, increased R&D investment, tariffs, and pricing, partially offset bycost productivity and strong volume. Renewable Energy's two major new products—Cypress in onshore and Haliade-X in offshore—continue toprogress toward commercialization, with Cypress securing launch orders in the first half and Haliade-X undergoing blade testing. ... More: Official Press Release GE
- Keywords:
- GE, Renewable Energy, Haliade, Cypress, revenue, 2019, Q2, orders, challenging