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Bond Market News
GE Reports Solid Results and Lifts 2021 Forecasts
October 27, 2021
General Electric (GE) reported an adjusted earnings of $633mn, up 51% YoY during its Q3 results. GE Industrial free cash flow stood at $1.7bn vs. $514mn during the same period last year. However, revenues were ~1% lower to $18.4bn. The company updated its 2021 outlook with an adjusted EPS of $1.80-$2.10 and free cash flow of $3.75bn–$4.75bn. CEO H. Lawrence Culp, Jr. said, “The GE team delivered another strong quarter. Orders grew, margins expanded, our overall cash performance was significantly better, and Aviation is building momentum and showing continued signs of recovery”
GE’s bonds were slightly higher with its 4.35% 2050s up 1.6 to 125.05, yielding 3.02%.
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