General Electric (GE) reported Q4 2021 results with $20.3bn in revenues, down 3% YoY, missing expectations of $21.5bn. Its adjusted profits were at $1.58bn, up 28%, translating into an EPS of 92 cents vs. analyst expectations of 84 cents. It also reported free cash flows of $3.8bn. The mixed results came on the back of supply chain issues like shortages of semiconductors, labor, resins and parts, mainly hitting its healthcare business. Overall, guidance for 2022 was also mixed with $6bn in free cash flows and EPS of $3.15 vs. analysts expecting $5.9bn and $4 respectively. “We have taken a pragmatic plan to laying out 2022… Managing inflation isn’t a skill many of us have had to exercise”. GE CEO Larry Culp said.
GE’s dollar bonds were flat with its 6.75% 2032s at 131.89, yielding 3.06%.
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