future of energy
1,000 Shots On Goal: GE’s Culp, At Milken Institute Talk, Says He’s Optimistic About The Energy Transition
At this week’s Milken Institute Global Conference in Los Angeles, GE Chairman and CEO Larry Culp said there was “no one technology that will carry the day” when it comes to the energy transition. Instead, he said, the world needs to deploy a variety of approaches to address what he called the “trilemma” — reliability, affordability, and sustainability. “In many respects, we need just about everything that we can muster, both in terms of what we have today and what we’ll have as a result of innovation going forward,” he said.
investors
Investor Day: GE Reaffirms $5.5–$6.5 Billion Free Cash Flow* Outlook For 2022, Over $7 Billion In 2023
Earnings
Third-Quarter Earnings Results: Strong Performance Continues
Reporting GE’s third-quarter results, GE Chairman and CEO Larry Culp said the company delivered “another strong quarter as orders, margins and cash improved.” The results benefited from “continued signs of recovery” in the aviation market, Culp said, but he stressed that GE’s focus on continuous improvement and lean management was driving broader operational and financial progress. He also said that the company was managing through significant challenges, such as supply chain disruptions and onshore wind market pressure due to the U.S. production tax credit (PTC).
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Lean Management
The Lean Way: Culp Gives An Update On GE’s Lean Transformation
Perhaps the most important initiative Larry Culp announced when he joined GE as chairman and CEO was introducing the concept of lean management and putting it into action. Shortly following his second anniversary in the job, Culp delivered an update on lean, bringing his colleagues and select members of the media up to speed on how GE’s adoption of the management approach has progressed so far. From the get-go, he’s seen lean as a natural fit for GE. “I know of no other way to run a business than through lean principles,” he said.
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Annual Outlook
GE's 2019 Outlook: Building On Strengths And Tackling Challenges
GE Chairman and CEO H. Lawrence Culp Jr. hosted an outlook meeting with analysts and investors today. He walked them through the company’s plans to deliver on its strategic priorities of improving its financial position and strengthening its businesses in 2019 and beyond.
As part of the guidance for 2019, GE is expecting Industrial organic revenue (non-GAAP) growth in the low-to-mid single digits and adjusted Industrial free cash flows (non-GAAP) in the range of negative $2 billion to $0 billion.
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power
GE Names New Leadership For Its Power Units, John Rice Returns To GE
Today GE announced new leadership for its reorganized GE Power units.