Rival wind turbine suppliers hoping GE’s new chief executive Larry Culp would downplay the Renewable Energy division will have come away disappointed this week, with Culp instead expanding the unit and giving it a significant profile during a critical fourth quarter earnings call.
Paris-based GE Renewable Energy (GE-RE) is not without its challenges, as the financial results made clear. The unit’s profits sank by more than half during 2018, to $287m, and its profit margin was on an even steeper decline – dropping to 2% in the fourth quarter, compared to 5.3%
