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BRIEF-GE says 2018 EPS forecast of $2/shr is at high end of expectations "where markets are today" - EPG 2017 Conf
May 24, 2017 / 4:18 PM / 6 months ago

BRIEF-GE says 2018 EPS forecast of $2/shr is at high end of expectations "where markets are today" - EPG 2017 Conf

May 24 (Reuters) - General Electric Co

* Says Asia is “strong”, emerging markets and Europe are “improving”

* Says “resource markets remain tough impacting oil & gas, power, transportation”

* Says expect 2018 to be in line with goals of 3-5 pct organic growth and 100 bps of margin improvement

* Says oil-related markets remain “challenging”

* Says negative impact from revenue recognition accounting change estimated to be about $0.05 of EPS in 2018

* Says capital allocation and acquisition impact in line with expectations for 2018

* Says 2018 EPS forecast of $2 is at high end of expectations “where markets are today”, hitting goals will require additional cost contingencies

* Says $1 billion industrial structural cost out plan for 2017 is on track; targeting $2 billion in industrial cost reductions by 2018

* GE CEO Jeff Immelt says we have to underwrite 2018, assuming resource markets don’t get better

* GE CEO Jeff Immelt says “today when i think about where the stock is, compared to what the company is, it’s a mismatch”

* GE CEO Jeff Immelt says by 2020 GE Digital ought to be a steady income producer Further company coverage:

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