GE Reports $126B of Signed Dispositions, Will Close $100B by YE

General Electric reported Q3/15 operating earnings of $3.3 billion on revenues of $31.7 billion, which included GE Capital revenues of $6.3 billion. Earnings per share from continuing operations were $0.28 beating analysts surveyed by Thomson Reuters of $0.26 on topline sales of $28.65 billion.

In a GE Capital portfolio update, GE said it signed $126 billion of dispositions, ahead of plan and on track for goal of closing about $100 billion by year-end.

GE Capital revenues for Q3/15 and YTD of $6.3 billion and $17.5 billion, respectively compared to $6.4 billion and $19.2 billion for the same periods in 2014. Segment profit in Q3/15 of $734 million was down from $834 million in Q3/14. For the nine month period ended September 30, 2015, the GE Capital segment loss of $7.55 billion compared to a segment profit of $3.09 billion a year earlier.

Jeff Immelt, chairman and CEO said, “Our GE Capital exit plan is ahead of plan and we expect GE Capital dividends to the parent of about $3 billion for 2015. This week we announced the sale of $30 billion of commercial lending businesses, bringing our total signed deals to date to $126 billion.”

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