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GE hits headwinds from wind turbines
But in thermal and particularly in wind, sales are lagging behind. GE's wind turbine sales and shipments were down nearly 50% year on year in the second quarter. And Chinese windmill makers are pushing hard into the market. As turbine prices have dropped, so too have profit margins in GE's energy business, falling from about 20% last year to roughly 15% so far in 2011. Investors are anxious to see a rebound.
October 21, 2011
by Kelly Evans
in Wall Street Journal
Larger General Electric has had some wind knocked out of its sails this year.
Shares in the global finance and industrial conglomerate are down 9.1% this year, while the Dow Jones Industrial Average is roughly flat. While largely down to worries over global growth and financial upheaval, a slump in its turbines business has done nothing to help.
Against that backdrop, GE on Friday is expected to report third-quarter earnings of 31 cents a share, up from 28 cents a year earlier, according to Thomson Reuters. Total revenue, excluding charges and special items, is seen up only about 1%, according to... [continue via Web link]
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