Fourth quarter earnings report shows a “strong close to the year” for GE, according to CEO Larry Culp, Jr.
GE reported a total revenue of $95 billion in 2019, compared to 2018’s $97 billion. The results closely matched or slightly exceeded estimates.
That’s consistent with GE’s stated goals. CEO Larry Culp, Jr., in a statement, said GE is strengthening their business and “driving long-term profitable growth.” GE’s corporate plans include the selling or spinning off of less-profitable companies and property, including oil and gas holdings, to reduce the company’s net debt. “We are solidifying our financial position, continuing to strengthen our businesses as improvement efforts build momentum,” said Culp.