General Electric, commonly known as GE, is an American multinational energy company, based in Fairfield, Connecticut.
The company is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘GE’.
It is one of the world’s largest and most diversified providers of infrastructure and financial services.
General Electric has a presence in over 100 countries and a global team of approximately 307,000 employees.
Its products and services include power generation, household appliances, medical imaging, aircraft engines, oil and gas production equipment, industrial products, and consumer financing.
GE’s operating segments are: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital.
Power & Water – develops products and technologies that use oil, gas, water, and wind to
produce electric power. It operates in North America, Europe, Asia, South America, Africa and the Middle East.
Oil & Gas – focuses on manufacturing turbines, auxiliary equipment, turboexpanders, high pressure reactors, compressors, drilling and production systems, and floating production platform equipment. It operates in North America, Europe, Asia, Australia, South America and Africa.
Energy Management – provides electrical products and systems used to distribute, secure and control energy, including, lighting and power panels, switchgears, circuit breakers, and motor, drives and control technologies. It operates in North America, Europe, Asia, Latin America and the Middle East.
Aviation – designs, creates, and sells jet engines, turbo shaft engines, and military and commercial replacement parts. It operates in North America, Europe, Asia and South America.
Healthcare – focuses on selling or providing medical imaging and information technologies, patient monitoring systems, biopharmaceutical manufacturing technologies, medical diagnostics equipment, and disease research.
Transportation – a leader in supplying technology to the railroad, marine, drilling and mining industries. It operates in n North America, Europe, Asia, South America, Africa and Australia.
Appliances & Lighting – sells major appliances lighting products directed to consume, commercial and industrial applications. It operates in North America, Europe, Asia and Latin America.
GE Capital – offers a range of financial services and products, including commercial loans and leases, credit cards, personal loans, fleet management, financial programs, and other financial services.
General Electric was formed in 1892 following the merger of Edison General Electric Company of Schenectady, New York, and Thomson-Houston Electric Company of Lynn, Massachusetts. It was one of the first 12 companies to be listed on the Dow Jones Industrial Average (in 1896).
- Chairman and CEO: Jeffrey R. Immelt
- CFO: Jeffrey S. Bornstein
- Type: Public
- Industry: Conglomerate
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: GE
- Dow Jones Industrial Average
- S&P 500 Component
- Revenue: $146.045 billion USD (2013)
- Net income: $13.355 billion USD (2013)
- Diluted earnings per share: $1.27 USD (2013)
- Founded: 1892
- Employees: 307,000 (2013)
- Corporate headquarters: 3135 Easton Turnpike, Fairfield, CT, USA
- Corporate contact number: +1 203-373-2211
- Investor relations contact number: +1 203-373-2460
- Investor relations email address: [email protected]
- Website: http://www.ge.com/
|Operating data (in $ millions)||2013||2012|
|Sales of goods||$71,873||$72,991|
|Sales of services||$28,669||$27,158|
|GECC revenues from services||$42,395||$43,972|
|Total revenues and other income||$146,045||$146,684|
|Total costs and expenses||$129,894||$129,303|
|Net earnings attributable to GE||$13,057||$13,641|
|Balance sheet data (in $ millions)|
|Total GE shareowners’ equity||$130,566||$123,026|
|Cash flow data (in $ millions)|
|Net cash provided by operating activities||$28,579||$31,331|
|Net cash provided by investing activities||$29,117||$11,302|
|Net cash used in financing activities||$(45,573)||$(51,074)|
|Cash and cash equivalents at end of period||$77,459||$84,622|
|Common share data (in $)|
|Basic earnings (loss) per common share||$1.28||$1.29|
|Diluted earnings (loss) per common share||$1.27||$1.29|
July 18, 2014: General Electric Q2 net income rose by 13%. The company announced Q2 profits of $3.55 billion USD. Synchrony Financial, part of GE’s financial arm, will be spun off at the end of this month. The company says it aims to focus entirely on its core businesses by the middle of next year.
June 13, 2014: American Airlines orders $2.6 billions’ worth of LEAP-1A engines for its 100 Airbus A320neo aircraft. The engine maker, CFM International, based in France and the US, is a joint venture by GE Aviation and Safran.
June 26, 2014: GE’s $16.9 billion (€12.35 billion) offer to Alstom was approved unanimously by the French company as well as by the government of France. GE is buying Alstom’s Power and Grid businesses.
June 23, 2014: Banco Santander and GE Money Nordic Holding AB have reached a deal worth about $952 billion (€700 million) for the sale of GE’s Scandinavian business. Santander wants to expand into northern Europe while GE aims to reduce its exposure in the banking sector.