GE shares rise 5% after earnings top expectations

General Electric delivered fourth-quarter earnings before market open on Wednesday that topped analyst expectations.

Shares of GE rose as much as 5% in premarket trading from its previous close of $11.73.

“The fourth quarter marked a strong close to the year for GE. We met or exceeded our full-year financial targets and are on a positive trajectory for 2020,” GE Chairman and CEO Larry Culp said in a statement.

Here’s what GE reported versus what Wall Street expected:

• EPS: 21 cents vs. 18 cents expected according to analysts surveyed by Refnitiv.
• Revenue: $26.24 billion vs. $25.57 billion expected according to analysts surveyed by Refnitiv.

While the company’s quarterly results better than anticipated, GE’s 2020 earnings forecast came in below what analysts surveyed by FactSet expected. GE said it expects to see earnings between 50 cents a share and 60 cents a share next year, below the 67 cents a share analysts were looking for from the industrial conglomerate.

GE forecast that industrial free cash flow, another closely watched metric, would fall between $2 billion and $4 billion in 2020.

This story is developing. Please check back for updates.