, Columnist
GE's Day of Reckoning
Its growth estimates always did seem a tad ambitious.
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GE should have known better than to over-promise and under-deliver.
The $256 billion maker of airplane engines, gas turbines and other industrial goods had to lower its 2016 organic sales guidance on Friday after third-quarter revenue at several of its units fell short of some analysts' estimates. The less-sanguine outlook wasn't terribly surprising. In fact, it's been almost a norm this earnings seasons for industrial companies to knock down their guidance. But GE's forecast in particular has long stood out as ambitious -- in hindsight, overly so.