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General Electric: Management Failed To Fill In The GA[A]P

July 24, 2018

Summary: 

- General Electric released better-than-expected adjusted Q2 2018 earnings results but the market was not impressed.

- Management was asked to provide full-year GAAP earnings guidance and they failed to disclose this 'necessary' metric to the investment community.

- I plan to stay long General Electric but my patience is wearing thin.

 

General Electric ($GE) released Q2 2018 financial results that were not well-received by the market, as shown by the fact that the company’s stock has declined by almost 6% over the last two trading days. On a YTD basis, GE shares have declined in value by approximately 26% and have underperformed the broader market by a wide margin.

 

As most of the Seeking Alpha community is aware of, I have been bullish about General Electric’s long-term business prospects but, to be honest, the company’s most recent quarterly results [and management commentary] caused me to be even more concerned about the near-term prospects for the stock of this industrial conglomerate (please note the concern about the stock and not necessarily the company). The failed attempt to fill in the GA[A]P - i.e., management side-stepping a question related to GAAP earnings guidance for 2018 - should have investors nervous about what may be in store for this company over the next 12-18

months.

 

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