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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Dec 1, 2016 - GE Capital Sells $3.6B Investment in Italian Bank
Nov 17, 2016 - GE Capital to Exit Stake in Czech Moneta Money Bank
Nov 7, 2016 - GE Capital Completes Spin-Off of Polish Bank
Aug 22, 2016 - Wintrust Closes GE Capital Franchise Finance Portfolio Acquistion
Aug 15, 2016 - GE Capital Receives Binding Offer to Sell French Mortgage Portfolio
May 3, 2016 - GE Completes Sale of Lending/Leasing Assets in AU & NZ to Bain Capital
Apr 8, 2016 - CWB Acquires GE Capital’s Canadian Franchise Finance Business
Jan 15, 2016 - GE Agrees to Sell Appliances Business for $5.4 Billion
Jan 15, 2016 - GE to Cut 6,500 Jobs in Europe After Alstom Purchase
Jan 7, 2016 - GE Capital Divestitures in 2015 Reach $157 Billion
Dec 15, 2015 - GE Sells Japanese Commercial Leasing Business to Sumitomo Mitsui
Dec 10, 2015 - GE Capital Passes $100B Threshold of Transactions Closed
Dec 7, 2015 - GE to Sell Mexican Equipment Lending Platform to Linzor Capital Partners
Dec 7, 2015 - GE Completes Sale of $5.9B UK Home Lending Portfolio
Dec 3, 2015 - Moody’s Assigns A1 Issuer Rating to GE Capital Global Holdings
Dec 2, 2015 - GE Completes Sale of Healthcare Services Business to Capital One
Dec 2, 2015 - GE Completes Transportation Finance Sale to BMO
Nov 18, 2015 - Synchrony Financial Completes Separation from GE
Nov 16, 2015 - Two Bidders Remain for GE’s Japanese Commercial Finance Unit
Nov 4, 2015 - GE Completes Sale of European Fleet Services to Arval
Oct 28, 2015 - Burger Appointed GECAS President and CEO
Oct 19, 2015 - GE Begins Exchange Offer to Complete Separation of Synchrony Financial
Oct 16, 2015 - WSJ: Wells Fargo’s Pursuit of GE Assets Likely Over
Oct 14, 2015 - Wells Fargo Buys GE’s $32B Lending/Leasing Businesses
Oct 12, 2015 - Reuters: GE Nears Deal to Sell $30B of Loans to Wells Fargo
Oct 5, 2015 - GE Capital Nears $100 Billion in Asset Sales Since April
Oct 1, 2015 - GE Sells Tank Car Portfolio to Marmon, Railcar Leasing to Wells Fargo
Oct 1, 2015 - Element Closes GE Capital Fleet Ops in Mexico, Australia & NZ
Oct 1, 2015 - MidCap, Apollo Partner to Acquire $3.6B Mubadala GE Capital Portfolio
Sep 24, 2015 - Bloomberg: GE Capital Will Sell Private-Equity Unit to Ardian
Sep 17, 2015 - GE Completes Sale of European Sponsor Finance Business
Sep 14, 2015 - KKR, Apollo to Pursue GE’s $11B Inventory Finance Arm
Sep 11, 2015 - GE to Sell Transportation Finance Unit to BMO
Sep 11, 2015 - GE Exploring Sale of Asset Management Arm
Sep 2, 2015 - Bidders for GE Capital’s Australian Units Down to 3
Aug 28, 2015 - Contenders Emerge for GE Capital Australian Assets
Aug 24, 2015 - GE Completes Sale of U.S. Sponsor Finance Business to CPPIB
Aug 19, 2015 - Field Shrinks in Competition For GE Capital Australian Assets
Aug 18, 2015 - Early Returns on GE Capital Sale Spark Moody’s Upgrade
Aug 14, 2015 - GE Capital Sells Deposit Platform to Goldman Sachs
Aug 12, 2015 - Capital One Acquires GE Capital’s Healthcare Finance Unit
Aug 7, 2015 - Reuters: Capital One in Exclusive Talks for GE Healthcare Finance Arm
Aug 3, 2015 - FSOC Says GE Capital Still ‘Systemically Important’
Jul 31, 2015 - GE Capital Sells Japanese Office Holdings
Jul 29, 2015 - Reuters: Fed Tells GE Capital to Upgrade Resolution Plans
Jul 28, 2015 - Reuters: GE Sets Deadline for Japanese Leasing Unit Bids
Jul 21, 2015 - The Australian: Tudor in the Mix for GE Assets
Jul 20, 2015 - GE Capital CDF CEO Comments on Sale of Business
Jul 17, 2015 - GE Reports Q2 Net Loss on Discontinued Operations Charges
Jul 8, 2015 - GE Accelerates CLL Asset Disposals; Will Take Q2 Charge of $4.3B
Jul 1, 2015 - Reuters: Sherin Sees Asset Sale Pace Speeding Up in Q3
Jul 1, 2015 - GE Agrees to Sumitomo Mitsui’s Offer for European Sponsor Finance Business
Jun 29, 2015 - Element, Arval to Acquire Majority of GE Fleet Business
Jun 23, 2015 - WSJ: Sumitomo Mitsui Interested in GE’s Rail Business
Jun 17, 2015 - GE Capital Releases Q2/15 Fleet Market Economic Outlook
Jun 16, 2015 - NYT: GE Said to Struggle to Find Buyers of Australian Units
Jun 12, 2015 - Wells, TD Explore Bids for GE Lending Assets
Jun 10, 2015 - GE Sells U.S. Sponsor Finance Business to CPPIB for $12B
Jun 9, 2015 - GE Uses Own Metric to Value Its Finance Arm’s Assets
Jun 8, 2015 - WSJ: GE Close to Private Equity Sale to CPPIB
Jun 4, 2015 - GE Said to Hire Banks to Start Sale on $20B Assets
Jun 1, 2015 - GE Launches Sales Process for Portion of Commercial Lending Units
May 29, 2015 - GE Selects Deutsche Bank to Sell GE Capital Interbanca
May 28, 2015 - GE Capital CEO Prioritizes Sale of Private Equity Assets
May 27, 2015 - Bloomberg: GE, Element in Talks over Fleet Assets
May 26, 2015 - Rumor: Element’s $2.5B Raise Tied to GE Capital Fleet Acquisition
May 21, 2015 - Element Financial to Raise $2.2B to Fund Future Acquisitions
May 21, 2015 - GE Said to Be Running Ahead of Schedule on Asset Sales
May 13, 2015 - Banks Have Advantage Over PE Firms in GE Antares Bidding
May 11, 2015 - WSJ: GE Capital Bidders Said to Sign ‘Nonhire’ Clause
May 1, 2015 - Bloomberg: Oaktree Has Interest in GE Capital Assets
Apr 29, 2015 - GE Capital: Truck Transportation Spring 2015 Update
Apr 21, 2015 - WSJ: GE in Talks to Sell U.S. CLL Business to Wells Fargo
Apr 21, 2015 - GE Capital Finances AAA Acquisition
Apr 20, 2015 - Moody’s: GE Capital Asset Disposal Will Alter ABS Landscape
Apr 17, 2015 - GE Capital Q1/15 Net Loss of $14.7B After ‘Exit Impacts’
Apr 15, 2015 - NYT: Investment Bankers Will Feel the Pain of GE Capital Spinoff
Apr 15, 2015 - GE Capital Fleet Services Introduces BrightWorks Insights
Apr 14, 2015 - GE Capital Will Look Like a Captive in 2018
Apr 14, 2015 - Mubadala GE Capital: No Plans to Change Strategy of Business
Apr 13, 2015 - GE’s Decision to Sell Most of GE Capital ‘End of an Era’
Apr 13, 2015 - GE Shares Finish at Highest Level Since 2008
Apr 13, 2015 - Blackstone, Wells Fargo to Acquire GE Capital’s CRE Assets
Terry Mulreany
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