Shares of General Electric (NYSE:GE) fell 6.7% in premarket trading Tuesday after the energy solutions provider’s Q1 outlook missed analysts’ expectations.
Notably, the company reported fourth-quarter earnings per share (EPS) of $1.03, exceeding analysts’ expectations of $0.89. Adjusted revenue came in at $18.5 billion, topping the consensus estimates of $17.25 billion.
General Electric generated $5.79 billion in power revenue, 15% higher than in the year-ago quarter, and above the projected $4.89 billion. Renewable energy revenue stood at $4.21 billion in Q4, up 23% year-over-year and above the estimated $3.65 billion.
Power organic revenue growth was reported at 12% in the quarter, while analysts expected negative growth of 0.62%. GE posted a power operating profit of $759 million, up 9.7% from the same quarter last year and better than the estimated $594.7 million.
Adjusted free cash flow stood at $2.96 billion, compared to the expected $2.87 billion.
Despite positive Q4 results, soft Q1 guidance sent GE’s shares tumbling in the premarket. The company expects first-quarter EPS to be in the range of 60c to 65c, below the consensus estimates of 70c per share.
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