General Electric: Steppin' In The Right Direction
- General Electric reported solid Q2 2019 results, but the stock finished the week lower by ~5%.
- The company beat bottom-line estimates and management raised their full-year 2019 guidance for EPS and cash flows.
- I plan to remain long General Electric.
On July 31, 2019, General Electric ($GE) reported what I would call solid Q2 2019 operating results, but the stock remained under pressure due in large part to overall market concerns (i.e., the trade war shenanigans and the Federal Reserve's jumbled communication on future interest rate expectations). However, GE shares are still outperforming the broader market by a wide margin so far in 2019.
But, yes, GE shares are still down big over the last 1-, 3- and 5-year periods. While the company still has a long way to go, Mr. Larry Culp, CEO, already has General Electric heading in the right direction, and the Q2 2019 results were, in my opinion, another step forward for this industrial conglomerate.
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