GE presented a healthy global economic outlook and updated its third quarter and full year 2005 earnings per share (EPS) guidance during a commercial finance investor Webcast.
GE Senior Vice President and Chief Financial Officer Keith Sherin said that, with solid growth continuing in flow, major equipment and services orders, the company's earnings per share outlook for the third quarter will come in at the high end of the previous range of U.S. $0.43 to $0.44 at $0.44 per share, up 16 percent year-over-year. He added that, with the momentum carrying into the fourth quarter, the company is increasing the lower end of its full year EPS guidance range from $1.80 to $1.81. The new full year guidance range is $1.81-1.83 for total year 2005.
Sherin also provided an update on the company's increased Cash Flow from Operating Activity (CFOA) position, "With our strong cash flow growth, we now see CFOA in excess of $19 billion dollars for total year 2005. Accordingly, we intend to increase our 2005 share repurchase by $1 billion to over $4 billion this year."
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