General Electric Company (NYSE:GE) shares are trading lower by 6.4% at $92.24 Friday afternoon after the company issued FY22 EPS guidance with a midpoint below estimates.
GE sees FY22 EPS guidance of $2.80-$3.50, with a midpoint below the analyst consensus estimate of $3.42.
In a letter to shareholders, Vice President of Investor Relations Steve Winoker stated: "In light of recent commentary from other companies, a number of investors and analysts have been asking us for additional color about what we are seeing so far in the first quarter. As part of GE’s standard operating processes, we’re spending time conducting operating reviews with our businesses this month." The entirety of the shareholder letter can be read here.
See Also: 'We'll Play The Long Game': DraftKings CEO Remains Confident In Strategy Despite Stock Plunge
GE has a 52-week high of $116.16 and a 52-week low of $88.05.
