GE Renewable Energy showed first signs of living up to its appointed role as a key platform for growth at its struggling parent company, with third quarter results revealing orders up 30% year-on-year to just over $5bn, and revenues that had risen 13% to better than $4.4bn.
Despite strong wind segment performance, the renewables business swung to a $100,000 loss in the period with margins down 500 basis points versus a $100,000 profit a year earlier, as GE continued to deal with "legacy" issues from its Alstom acquisition, price pressures in its Grid Solutions business, and the negative impact of US-China tariffs and project execution problems.
