Download now: King Coal Triple Play

GE's (NYSE: GE) Oil and Gas Sector Boosts Q4 Results

Oil and Gas Investments Show Promise

Written by Swagato Chakravorty
Posted January 21, 2013

General Electric’s (NYSE: GE) foray into the oil and gas sector has returned good results; the company was able to see its net income go up 8 percent in Q4, while also tallying up $210 billion in backlogged orders.

Net income amounted to $4 billion, or 38 cents per share, resulting in a profit of 44 cents per share. Per-share prices for GE rose to $21.95, up 3.1 percent.

Under Jeffrey Immelt, GE has renewed focus on its industrial operations, such as industrial equipment, services to industrial businesses, etc., while forging ahead into providing equipment and support services to the oil and gas industry. That’s a smart move considering the ongoing oil and gas boom across North America driven by shale discoveries and explorations.

It’s that move that has proven key for GE in the latest quarter, with the company’s oil and gas, energy management, aviation, and transportation segments each posting growth higher than 10 percent, as USA Today reports.

GE’s net income based on total revenues of $147.4 billion was $13.6 billion for 2012, and both are expected to increase through 2013.

New contracts have been unveiled with Brazil’s Petrobras and Chevron’s (NYSE: CVX) Angola projects, and the company has received enough orders for jet engines to supply 50 airplanes for Alaska Airlines.


Energy demand will increase 58% over the next 25 years.

Trillions will be spent to secure the world's energy supply over the next two decades... and all sources are on the table.

Oil, Natural Gas, Solar, Wind. There will be money made.

Follow the money trail. Sign up for Energy and Capital now--It's free.

We never spam! View our Privacy Policy

By signing up, you'll also get our latest report, Six Oil & Gas Steals.


Related Articles

GE Electric Car Opportunity
GE's building a $4.3 billion back door to the electric vehicle market.
North America to Be Net Oil and Gas Exporter by 2025
In its latest annual energy report, Exxon Mobil (NYSE: XOM) predicts a healthy future for North American energy production.
Saudi Arabia Wants U.S. Oil and Gas
Lead oil producer Saudi Arabia may be slowing down in the race as it looks to the U.S. for new investments...


Invest in the Lithium Revolution
Lithium Demand is Going Berserk
Investing in the Tesla (NASDAQ: TSLA) Powerwall
Tesla (NASDAQ: TSLA) Just Killed Your Power Company
Tesla (NASDAQ: TSLA) Powerwall Investing
How to Make $800 Million in One Week!
Putin and Saudi Arabia: Oil Dream Team Meet
Marijuana Bank Investing
3 Guaranteed Profits: Gambling, Prostitution, and...