GE Publishes COVID-19 challenged Q1 Results

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

Official Press Release GE Renewable Energy:

GE announces first quarter 2020 results

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COVID-19 challenged first-quarter results; taking swift action to mitigate impact and solidify financial position

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... ... More: Official Press Release GE Renewable Energy