General Electric Company GE is scheduled to report third-quarter 2019 results on Oct 30, 2019, before the market opens.
The GE Aviation segment manufactures commercial and military jet engines and components, and provides aftermarket services. It accounted for roughly 29.1% of Industrial revenues in the second quarter of 2019. Alternatively, the Renewable Energy segment — comprising wind and hydropower businesses — accounted for roughly 13.4% of Industrial revenues in the second quarter.
Apart from Power and Renewable Energy segments, the Industrial segment’s results include that of three other segments.
Factors Influencing Segments & Estimates
Over the past few quarters, the Aviation segment has supported top-line growth for General Electric. This trend is expected to get reflected in third-quarter performance. Increasing popularity of LEAP engines, strengthening services and military businesses, and rise in passenger air travel globally are anticipated to have benefited the segment in the third quarter.
For the third quarter of 2019, the Zacks Consensus Estimate for Aviation’s revenues is pegged at $8,041 million, suggesting 2.1% rise from the previous quarter’s reported figure and 7.5% growth from the year-ago quarter’s number.
Growth in the onshore wind business, efforts to develop products and cost-reduction moves are expected to have strengthened revenues for the Renewable Energy segment in the third quarter of 2019.
For the third quarter of 2019, the Zacks Consensus Estimate for Renewable Energy’s revenues is pegged at $4,051 million, suggesting growth of 11.7% from the previous quarter’s reported figure and 41% rise from the year-ago quarter’s number.
Industrial’s Q3 Expectations
The Zacks Consensus Estimate for Industrial’s revenues in the to-be-reported quarter is currently pegged at $24,107 million, suggesting a 10.9% decline from the previous quarter and a 13.2% decrease from the year-ago quarter’s reported figure. Profits for the Industrial segment are likely to be $2,489 million, indicating 5.5% rise from the previous quarter’s reported figure and 7.1% growth from the year-ago quarter’s number. (Read more: General Electric to Post Q3 Earnings: What to Expect?)
Zacks Rank & Other Upcoming Releases
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some stocks in the industry, which are also likely to report their results soon, are Macquarie Infrastructure Company MIC — to report results on Oct 31; HC2 Holdings, Inc HCHC — to report results on Nov 5; and ITT Inc ITT — to report results on Nov 1.
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Click to get this free report ITT Inc. (ITT) : Free Stock Analysis Report Macquarie Infrastructure Company (MIC) : Free Stock Analysis Report General Electric Company (GE) : Free Stock Analysis Report HC2 Holdings, Inc. (HCHC) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research