ge expected to report 13 percent rise in profit - outside air conditioner

by:HICOOL     2021-10-11
ge expected to report 13 percent rise in profit  -  outside air conditioner
BOSTON (Reuters)-
Analysts expect GE (GE. N)
Reported net profit growth of 13% on Friday, strong demand from emerging markets continued to offset weak U. S.
Demand and its shrinking-
Financial sector. The largest U. S.
The group's demand for a variety of heavy equipment, from aircraft engines to gas turbines to gears used to produce oil and gas, said officials.
"Business is good," Executive President Jeff Immelt told reporters last week in Greenville, South Carolina.
"In the context of this huge demand.
This huge demand comes mainly from major emerging markets such as China, Brazil and parts of the Middle East.
As the U. S. market continues to rise, domestic demand, especially consumer demand is more prominent. S.
Unemployment and low house prices.
GE accounts for more than half of its operations outside the United States.
The gap between the strength of the developing world and the domestic downturn has overshadowed the earnings report of the industrial sector this quarter.
United Technology Corporation (UTX. N)
It generated about 60% of revenue outside the United States, surpassing analysts' forecasts this week, while Ingersoll Rand (IR. N)
Missed a large residential air-conditioning business.
Wall Street expects GE's net profit to reach $3.
Earnings per share were $43 billion and earnings per share were $34.
Revenue is 7 billion per cent, according to Thomson Reuters I/B/E/S
The revenue target means a 7% drop, reflecting the company's continued efforts to scale back its GE Capital finance unit.
One thing investors will most likely not be able to get from GE management is a detailed understanding of the rest of the year.
Unlike peers, GE does not provide per-
Share earnings forecasts.
This could help sell GE shares
Companies including Danaher (DHR. N)
In the release of what analysts call cautious secondhalf targets.
"Even if the macro uncertainty is not fully reflected in the company's performance, there are so many uncertainties.
I don't think there's much motivation for anyone to be a hero in the backcourt, "says Jeffrey schplatg, managing partner at Vertical Research.
Analysts expect GE's total profit of 2011 to grow by 18%.
Fairfield Inn Connecticut
The US-based Dow Jones industrial average has risen about 3% so far this year, down from 9%. DJI.
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