General Electric Company (NYSE:GE) shares are trading lower after the company reported worse-than-expected fourth-quarter sales results.
General Electric's fourth-quarter adjusted EPS came in at 92 cents, beating the analyst consensus estimate of 87 cents estimate. GE's fourth-quarter sales of $20.30 billion did however miss the analyst consensus estimate of $21.48 billion.
GE Chairman and CEO H. Lawrence Culp, Jr. said, “2021 was an important year for the GE team, marked by significant strategic, operational, and financial progress. We delivered solid margin, EPS, and free cash flow performance in 2021, exceeding our outlook. Orders for the year were up double digits, supporting faster growth going forward, while supply chain challenges, commercial selectivity, and uncertainty surrounding the U.S. wind production tax credit impacted our top-line."
GE is a global leader in air travel, precision health and in the energy transition.
GE has a 52-week high of $116.16 and a 52-week low of $85.12.
