GE Tumbles as Profit-Margin Growth Trails Immelt’s - TopicsExpress

GE Tumbles as Profit-Margin Growth Trails Immelt’s Forecast General Electric Co. (GE) fell the most in seven months after Chief Executive Officer Jeffrey Immelt failed to deliver a profit-margin forecast that he had been repeating for more than a year. GE dropped 2.3 percent to $26.58 in New York, the second biggest decline among industrial companies in the Standard & Poor’s 500 Index. Profit margins at GE units making jet engines, medical scanners and locomotives expanded last year by less than the 70 basis points, or 0.7 percentage point, that Immelt set as a goal in December 2012 and affirmed last month. GE’s industrial profit margin widened last year to 15.7 percent, compared with 15.1 percent in 2012. It grew 66 basis points excluding the effect of acquisitions and 60 basis points with deals factored in, GE said. Data Courtesy : ET, TOI, Bloomberg

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