Company Profile: General Electric (GE)
Type: Multinational ConglomerateEncyclopaedia Britannica
Headquarters: Boston, Massachusetts, USA
Founded: 1892Wikipedia+4en.wikipedia.org+4Encyclopaedia Britannica+4
Key Divisions: GE Aerospace, GE Vernova, GE HealthCareStock Analysis+5Wikipedia+5investors.com+5
Overview
General Electric (GE) is a multinational conglomerate founded in 1892, known for its extensive contributions to various industries, including aviation, energy, healthcare, and finance. Over the years, GE has undergone significant transformations to adapt to changing market dynamics.Encyclopaedia Britannica+1en.wikipedia.org+1
Recent Developments
Corporate Restructuring: In November 2021, GE announced plans to split into three separate public companies, each focusing on aviation (GE Aerospace), healthcare (GE HealthCare), and energy (GE Vernova). The spin-off of GE HealthCare was completed on January 4, 2023, followed by the separation of GE Vernova on April 2, 2024. Post these separations, the original General Electric Company was renamed GE Aerospace, marking the end of GE as a conglomerate. investors.com+4es.wikipedia.org+4de.wikipedia.org+4
Stock Performance: As of October 2024, GE Aerospace’s stock surged by 75%, driven by strong demand for jet engines and aftermarket services. The company reported a 62% increase in profits for the second quarter of 2024, with revenues rising by 4%. investors.com
Divisions
GE Aerospace: Focuses on designing and producing commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. Stock Analysis
GE Vernova: Encompasses GE’s renewable energy and power generation businesses, including wind turbines, gas turbines, and other energy solutions.
GE HealthCare: Specializes in medical imaging, monitoring, biomanufacturing, and cell and gene therapy technologies. As of 2022, it was an $18.3 billion business with 50,000 employees. ge.com
Financial Highlights
Revenue: In 2022, GE reported revenues of $76.6 billion. de.wikipedia.org
Employees: Approximately 172,000 as of 2022.
