General Electric Q3 Industrial Profit Rises, Revenue Mixed; Raises 2021 Guidance

General Electric Company (GE) said it delivered a strong third quarter as orders grew, and margins continued to improve from a year ago. Adjusted GE Industrial organic profit increased 54% year-on-year, organically, driven primarily by increases at Aviation and Power, partially offset by decreases at Renewable Energy and Healthcare. Adjusted Industrial profit margin was 7.5%, up 270 bps from prior year. Revenue was mixed with GE Industrial organic revenue declining 1%, for the quarter. GE Capital revenues were down 3%.

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