Here at SG Energy Solutions, we pride ourselves on not only providing great service but also providing great research and a forward-thinking mindset.
Thoughtfulness is always a big priority for us. We always want to be great at what we do, and we always want to deliver thought-provoking content as well.
That’s why today, we’re taking a look at General Electric, who’s also a great partner of SG Energy Solutions.
For those who might be unfamiliar with what they do, General Electric Company (GE) is an American multinational conglomerate incorporated in New York State and headquartered in Boston.
As recently as 2018, the company operated through the following segments: aviation, healthcare, power, renewable energy, digital industry, additive manufacturing, locomotives, and venture capital and finance.
Three years later, in 2021, the conglomerate had divested from several areas and primarily consisted of the first four segments: aviation, healthcare, power, and renewable energy.
GE has been a great partner to SG Energy Solutions. We, of course, have been providing exceptional construction-related services for automotive, industrial, and utility projects since 2000. Major power plants around the globe rely on our skills and experience to complete complex, large-scale projects in a timely manner. From local work in the United States to international projects, we will go wherever our clients need us to be.
Let’s take a look at GE’s second-quarter numbers and current progress:
Reporting GE’s second-quarter results, GE Chairman and CEO Larry Culp said the company delivered a strong performance and that it was returning to growth. “Orders and revenue returned to growth, our operating margins expanded across all segments and we generated positive Industrial free cash flow,” he said. Industrial revenue increased in three of GE’s four main segments — Healthcare, Aviation and Renewable Energy — and remained even in Power. The company has also raised its Industrial free cash flow outlook from the $2.5 billion–$4.5 billion range to $3.5 billion–$5 billion.
Forward momentum: Culp said services in Healthcare, Renewable Energy and Power were all back to levels similar to or better than 2019. “In Aviation, we’re beginning to benefit from the market recovery,” he said. “We’re making tremendous progress in our journey to become a more focused, simpler, stronger, high-tech industrial,” Culp said. “Our GE team has been at the heart of driving our transformation forward, building momentum through lean and embracing a more decentralized business model.”
Momentum is extremely powerful and we look forward to continuing to monitor our industry trends!