EnergyWatch

GE significantly downgrades forecast after sluggish quarter

Manufacturing giant General Electric has been forced to downgrade guidance after a weak third quarter. However, the company can celebrate an increased order intake for wind turbines, despite a disappointing decline in production during the period.

Photo: General Electric Company

Manufacturing conglomerate GE did not perform as it had expected and the company is significantly lowering its guidance for the full-year 2017, reports the company in relation to the third quarter interim report.

Earnings came to USD 0.29 per share in the quarter, whereas estimates had predicted USD 0.50, according to Bloomberg News.

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