GE RE 1Q 2019 Earnings InfographicGE Renewable Energy has announced results for the first quarter ending March 31, 2019.Orders of $2.4 billion were up 1% reported and 3% organically. Renewable Energy received its first order for the new 5 MW onshore Cypress platform and signed an agreement to install the first Haliade-X 12 MW offshore wind turbine.
 
Revenues of $1.6 billion were down 3% reported with equipment down 7% partially offset by services up 9%; however, revenues were up 3% organically. Segment profit was negatively impacted by liquidated damages and contract terminations in 2018. Excluding those items, the business was still down year over year, principally driven by higher R&D investment for the Haliade-X, tariffs, JV consolidation, and pricing. This was partially offset by cost productivity and higher volume.
Use of cookies

Windtech International wants to make your visit to our website as pleasant as possible. That is why we place cookies on your computer that remember your preferences. With anonymous information about your site use you also help us to improve the website. Of course we will ask for your permission first. Click Accept to use all functions of the Windtech International website.