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General Electric (GE) Arm Clinches Gas Turbine Deal in Taiwan
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General Electric Company’s (GE - Free Report) business unit General Electric International, Inc. recently announced that it secured a deal from Taiwan Power Company (TPC) for delivering and installing gas turbine packages. Financial terms of the deal were not disclosed by the parties involved.
General Electric’s share price decreased 0.1% yesterday, eventually closing the session at $89.67.
Inside the Headlines
Per the deal, General Electric will be responsible for supplying six sets of its state-of-the-art LM2500XPRESS power packages to TPC. These turbine packages will be used at TPC's Tung Hsiao power plant renewal project in Miaoli County, Taiwan. GE’s power packages will help the 175-MW gas plant deal with power outages and stabilize the grid, providing flexible and reliable power.
It’s worth noting here that GE’s LM2500XPRESS power package can be 95% assembled in the factory for easy site installation and is made using the LM2500 aero derivative gas turbine technology. Its ‘plug and play’ features help bringing power to the grid efficiently, on requirement. LM2500’s high efficiency helps users lower plant emissions, operating costs and dependence on the local grid.
The product assembly will be done at GE Gas Power’s Manufacturing Excellence Center based in Veresegyhaz, Hungary.
Zacks Rank, Price Performance and Earnings Estimate Trend
General Electric with $98.8 billion market capitalization currently carries a Zacks Rank #3 (Hold). GE stands to benefit from its portfolio-restructuring program, expansion in digital business and efforts to deleverage its balance sheet in the quarters ahead.
Image Source: Zacks Investment Research
Shares of General Electric have lost 12.4% compared with the 12.1% decline of its industry in the past six months.
The Zacks Consensus Estimate for first-quarter 2022 earnings has decreased 44% to 23 cents in the past 60 days. Also, earnings estimates for 2022 have moved 7.6% south to $3.16 during the same period.
In the past 60 days, Griffon’s earnings estimates have increased 9% for fiscal 2022 (ending September 2022). The stock has lost 27.7% in the past six months.
Carlisle Companies Incorporated (CSL - Free Report) presently carries a Zacks Rank #2 (Buy). CSL’s earnings surprise in the last four quarters was 35.1%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 8.7% for 2022. CSL’s shares have gained 16.1% in the past six months.
Ferguson plc (FERG - Free Report) presently carries a Zacks Rank of 2. FERG delivered a trailing four-quarter earnings surprise of 14.2%, on average.
Earnings estimates of Ferguson have increased 7% for fiscal 2022 (ending 07/2022) in the past 60 days. FERG’s shares have declined 9.3% in the past six months.
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General Electric (GE) Arm Clinches Gas Turbine Deal in Taiwan
General Electric Company’s (GE - Free Report) business unit General Electric International, Inc. recently announced that it secured a deal from Taiwan Power Company (TPC) for delivering and installing gas turbine packages. Financial terms of the deal were not disclosed by the parties involved.
General Electric’s share price decreased 0.1% yesterday, eventually closing the session at $89.67.
Inside the Headlines
Per the deal, General Electric will be responsible for supplying six sets of its state-of-the-art LM2500XPRESS power packages to TPC. These turbine packages will be used at TPC's Tung Hsiao power plant renewal project in Miaoli County, Taiwan. GE’s power packages will help the 175-MW gas plant deal with power outages and stabilize the grid, providing flexible and reliable power.
It’s worth noting here that GE’s LM2500XPRESS power package can be 95% assembled in the factory for easy site installation and is made using the LM2500 aero derivative gas turbine technology. Its ‘plug and play’ features help bringing power to the grid efficiently, on requirement. LM2500’s high efficiency helps users lower plant emissions, operating costs and dependence on the local grid.
The product assembly will be done at GE Gas Power’s Manufacturing Excellence Center based in Veresegyhaz, Hungary.
Zacks Rank, Price Performance and Earnings Estimate Trend
General Electric with $98.8 billion market capitalization currently carries a Zacks Rank #3 (Hold). GE stands to benefit from its portfolio-restructuring program, expansion in digital business and efforts to deleverage its balance sheet in the quarters ahead.
Image Source: Zacks Investment Research
Shares of General Electric have lost 12.4% compared with the 12.1% decline of its industry in the past six months.
The Zacks Consensus Estimate for first-quarter 2022 earnings has decreased 44% to 23 cents in the past 60 days. Also, earnings estimates for 2022 have moved 7.6% south to $3.16 during the same period.
Stocks to Consider
Some better-ranked stocks are discussed below.
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank #1. Its earnings surprise in the last four quarters was 56.7%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, Griffon’s earnings estimates have increased 9% for fiscal 2022 (ending September 2022). The stock has lost 27.7% in the past six months.
Carlisle Companies Incorporated (CSL - Free Report) presently carries a Zacks Rank #2 (Buy). CSL’s earnings surprise in the last four quarters was 35.1%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 8.7% for 2022. CSL’s shares have gained 16.1% in the past six months.
Ferguson plc (FERG - Free Report) presently carries a Zacks Rank of 2. FERG delivered a trailing four-quarter earnings surprise of 14.2%, on average.
Earnings estimates of Ferguson have increased 7% for fiscal 2022 (ending 07/2022) in the past 60 days. FERG’s shares have declined 9.3% in the past six months.