GE Said Today It Will Achieve High End of Existing 3Q 2005 EPS Guidance at $0.44, Up 16% Over 2004; Full Year EPS Guidance Increased to $1.81-1.83 for 2005; Will Increase Share Repurchase to Over $4 Billion in 2005
FAIRFIELD, Conn.--(BUSINESS WIRE)--Oct. 6, 2005--During the company's Commercial Finance investor webcast, GE (NYSE:GE) Senior Vice President and Chief Financial Officer Keith Sherin highlighted a healthy global economic outlook for the company and updated third quarter and full year 2005 earnings per share (EPS) guidance.
With solid growth continuing in flow, major equipment and services orders, Sherin said the company's earnings per share outlook for the third quarter will come in at the high end of the previous range of .43-.44 at .44 per share, up 16% year-over-year. He further added that with the momentum carrying into the fourth quarter, the company is increasing the lower end of its full year EPS guidance range from $1.80 to $1.81. The new full year guidance range is $1.81-1.83 for total year 2005.
Sherin also provided an update on the company's increased Cash Flow from Operating Activity (CFOA) position, "With our strong cash flow growth, we now see CFOA in excess of $19 billion dollars for total year 2005. Accordingly, we intend to increase our 2005 share repurchase by $1 billion to over $4 billion this year."
Sherin's and all of the presentations delivered during today's Commercial Finance meeting are available at www.ge.com/investor. GE will host its regularly scheduled 3Q'05 earnings webcast on Friday, October 14, 2005 at 8:30 a.m. (ET).
GE (NYSE:GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming, and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
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Ulrike Gaissert
GE in Deutschland Österreich und der Schweiz
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