By Richard A. Kessler, Fort Worth & Andrew Lee, London
Thursday, April 17 2014
Updated: Friday, April 18 2014
General Electric anticipates it will deliver "about" 3,000 wind turbines this year with a majority of those coming in the second half, after shipping 646 in the first quarter, chief financial officer Jeff Bornstein told analysts during a conference call.
"So, no change on the framework that I gave you at year end on wind deliveries. I said that we’d do about 3,000 units and that’s still what we expect to do," he said, discussing the company's first quarter results .
"In terms of first half, second half, it’s a little bit heavier weighted to the second half of the year. We’ll do, I don’t know, about 1,800 of those 3,000 in the third and fourth quarter."
First quarter deliveries were more than double 301 units in the year-ago period.
Turbine orders last quarter totaled 422 versus 584 in the same 2013 period.
Despite the slower bookings, "Our overall view has not changed. We expect strong growth this year."Our view of wind orders for the year has not changed. We still expect strong growth," he says.
The US industrial giant said it saw a strong Q1 in many of its divisions, including the Power & Water unit that includes its wind turbine operation.
GE CEO Jeff Immelt said: “We’re off to a good start to the year, and our 2014 framework remains unchanged. The environment is consistent with our expectations, with a positive bias.”
Immelt said the group delivered strong results in Power & Water, Aviation, Oil & Gas and the GE Capital division.
“The environment was generally positive, and we executed on our operational priorities with strong organic growth, margin enhancement, and solid cash generation,” he said.
GE today announced Q1 net profits of $3bn, down from $3.5bn in the first quarter of 2013. Revenues decreased 2% to $34.2bn.
But those figures were distorted by the effects of last year's sale of GE’s NBC Universal operation.
(Corrects earlier version stating 345 turbines delivered in first quarter 2013)