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Global 500

Kristopher Grunert

41

General Electric

GE

U.S.

General Electric is transforming itself urgently after its share price collapsed in 2017 and continued to fall into 2018. Longtime CEO Jeff Immelt stepped down in October 2017, and his successor, company veteran John Flannery, has promised major changes, saying “everything is on the table,” including a possible break-up. Most troubled now is GE’s largest business, which makes and services giant turbines for electric utilities; orders and profits plunged in 2017, and Flannery has set expectations low for 2018. But he says GE’s problems extend beyond any one business and include capital allocation, culture, and execution–big factors to try to reform.

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CEO

John L. Flannery Jr.

Sector

Industrials

Industry

Industrial Machinery

HQ Location

Boston

Website

Years on Global 500 List

24

Employees

313,000

Includes revenues from discontinued operations.
Key Financials (Last Fiscal Year)
($ Millions)% change
Revenues ($M)$122,274-3.5%
Profits ($M)$-5,786.0-165.5%
Assets ($M)$377,945
Total Stockholder Equity ($M)$64,263
Profit Ratios
Profit as % of Revenues-4.7%
Profits as % of Assets-1.5%
Profits as % of Stockholder Equity-9.0%
STOCK QUOTE
()0.00 0.00 (0)
  • Previous Close:
  • Market Cap: NaNB
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  • 52 Week Change %: 0.00
  • P/E Ratio: n/a
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  • Dividend Yield: n/a

News about General Electric

GE's Stock Drops as CEO Warns of Higher Cash Burn at Its Troubled Power Unit

“This is a multiyear turnaround in power. I don’t want to sugarcoat that in any way, shape or form.”

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GE's Turnaround Plan Gets a Boost With $21.4 Billion Sale of Biopharma Unit to Danaher

GE halted plans to spin off its broader health care business as it focuses on completing the deal.

Read More →
GE’s Decision to Scrap Boston HQ Shows Corporate Tax Incentives Don't Work

General Electric is going to pay back $87 million to Massachusetts after downgrading plans for its Boston headquarters.

Read More →