General Electric (GE) 8-KRegulation FD Disclosure
Filed: 3 Apr 03, 12:00am
Exhibit 99
'03 Earnings Outlook
($B) | 2002 | Earnings Growth | ||
"Old" 8:1 Basis | New Basis | '03E | 1QE | |
Commercial Finance | $3.2 | $3.2 | 15-20% | ~15% |
Consumer Finance | 1.9 | 1.8 | 15-20% | ~10% |
Equipment Management | 0.3 | 0.3 | (5)-5% | ~(30)% |
Insurance | (0.5) | (0.1) | F | ~Flat |
Corp/Other | (0.3) | (0.6) | 0-10% | U |
Total | $4.6 | $4.6 | 60-75% | 0-5% |
Commercial and Consumer Up Strong Double Digit |
First Quarter '03 Dynamics
1Q V% | |||
Revenue | Op Profit/ | Comments | |
Power | ~ (20)% | ~ (40)% | As Planned: 33 (Greenville) GT Units |
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Other Long Cycle | 5-10% | 10-15% | Service Growth & New Products on Plan |
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Plastics | 5-10% | ~ (55)% | Volume & Material Inflation Worse |
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Other Short Cycle | 5-10% | 5-10% | Industrial Systems & Specialty Materials |
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Financial Services | 0-5% | 0-5% | Comm'l. & Consumer Up Double Digit; ERC Turnaround ... Securitization Down ~$200 million; Tax Rate as Planned; Dividend at 10% Rate
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In Tough Environment
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Supplemental Schedule
($ in Millions)
First Quarter 2002 | ||||
Revenue | Op Profit | -a) | ||
Aircraft Engines | $2,577 | $421 | ||
Power Systems | 5,271 | 1,552 | ||
Medical Systems | 1,863 | 266 | ||
Transportation | 482 | 53 | ||
Eliminations | (385 | ) | -- | |
Total Long Cycle | 9,808 | 2,292 | ||
Less Power Systems | 5,271 | 1,552 | ||
Other Long Cycle | $4,537 | $740 | ||
1Q 2003 V% | 5-10 | % | 10-15 | % |
(a- Earnings Before Interest & Other Financial Charges, Income Taxes & Effects of Accounting Changes |
($ in Millions)
First Quarter 2002 | ||||
Revenue | Op Profit | -a) | ||
Plastics | $1,179 | $207 | ||
Specialty Materials | 401 | 47 | ||
Appliances | 1,414 | 91 | ||
Lighting | 540 | 20 | ||
Industrial Systems | 1,097 | 103 | ||
NBC | 1,998 | 313 | ||
Supply | 532 | 20 | ||
GXS | 105 | 5 | ||
Eliminations | (340 | ) | -- | |
Total Short Cycle | 6,926 | 806 | ||
Less Plastics | 1,179 | 207 | ||
Other Short Cycle | 5,747 | 599 | ||
Less Olympics | 716 | 15 | ||
Other S/C Ex. Olympics | $5,031 | $584 | ||
1Q 2003 V% | 5-10 | % | 5-10 | % |
Supplemental Schedule
($ in Millions)
First Quarter 2002 Revenue | ||||||
Total | Non-Service | Service | Service 1Q'03 V% | |||
Power Systems | $5,271 | $3,871 | $1,400 | ~21 | % | |
Medical Systems | 1,863 | 1,006 | 857 | ~19 | ||
Aircraft Engines | 2,577 | 1,250 | 1,327 | ~12 | ||
Transportation | 482 | 142 | 340 | ~7 | ||
First Quarter 2002 Revenue | |||||||
Total | Non-Growth Platform | Growth | Growth Platform 1Q'03 V% | ||||
Industrial Systems | $1,097 | $1,027 | $70 | ~20% | -a) | Security | |
Specialty Materials | 401 | 401 | -- | ~10 | -a) | Water | |
Medical Systems | 1,863 | 1,566 | 297 | ~20 | H/C IT | ||
Power Systems | 5,271 | 4,926 | 345 | ~67 | Oil & Gas | ||
(a- V% Assumes Acquisitions Included in Prior Year Results Since 1/1/02 |