Portfolio Management
Before Friday’s opening bell, General Electric (GE) released its first quarter financial results. Here’s what the results mean for mutual fund investors.
Inside the Results
Earnings
GE reported a net loss of $13.57 billion, or $1.35 per share, compared to net income of $3.00 billion, or 30 cents per share, in the year prior. Adjusted EPS was 31 cents, above analysts’ view of 30 cents.
Revenue
Revenue dropped to $29.36 billion from $33.55 billion. On average, analysts expected to see revenue of $34.23 billion.
GE Reports a Net Loss on Divesting Expenses
General Electric fell into a loss for the first quarter, citing charges related to its GE Capital exit, foreign exchange impacts, and weak energy prices.
Although the company was hurt by these factors, it was able to exceed expectations on an adjusted basis.
Mutual Funds to Watch
Investors considering a stake in GE may be interested in the funds listed below. These funds currently hold the largest stakes in the company.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| VTSMX | Vanguard Total Stock Market Index | 1.76% |
| VFINX | Vanguard 500 Index | 1.12% |
| FKINX | Franklin Income | 0.57% |
The Bottom Line
The funds above offer investors exposure to a diverse group of securities and industries. Investors interested in GE may also be interested in Caterpillar (CAT) or United Technologies (UTX).
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