Our commitment to transparent performance reporting
Today, GE released its fourth-quarter 2019 results which reflect another quarter’s progress on our multiyear transformation. Below are some select highlights from our results, and I encourage you to read the full materials and listen to our earnings call on GE’s investor website.
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GE reported a 7% increase in Industrial segment organic revenue* to $21.5 billion in the third quarter of 2019 and expanded its adjusted industrial profit margin* by 150 basis points to 10.0%. The company reported Industrial free cash flow* of $650 million and adjusted earnings per share* of $0.15 in the quarter.
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Today I’m pleased to welcome GE’s Chairman and CEO Larry Culp to this newsletter for the first time.
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Many of you have shared thoughtful responses to our statements from last week. Given your follow-up questions, I wanted to lay out our perspective in a bit greater detail, especially on two issues: GE long-term care (LTC) insurance and Baker Hughes, a GE company (BHGE).
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I have been using this newsletter to address a broader set of topics of interest over time, from Power to Aviation to Insurance as well as our quarterly results, and I will continue to do so given investor feedback.