Benzinga | Jul 27, 2021 11:13AM EDT

Recap: General Electric Q2 Earnings



Shares of General Electric (NYSE:GE) rose 3.7% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 133.33% over the past year to $0.05, which beat the estimate of $0.04.

Revenue of $18,279,000,000 rose by 2.98% year over year, which beat the estimate of $18,130,000,000.

Guidance

GE boosted its industrial free cash flow outlook to $3.5 billion to $5 billion.

Recent Stock Performance

Company's 52-week high was at $14.41

Company's 52-week low was at $5.93

Price action over last quarter: Up 1.52%

Company Overview

GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel, precision health, and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, onshore and offshore wind turbines, as well as medical diagnostic and mobile equipment. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by former Danaher alum Larry Culp who is leading a multi-year turnaround of the storied conglomerate based on Lean principles.