Sputtering energy markets drag GE’s earnings, profit
In his final days atop General Electric Co., Jeffrey R. Immelt still can’t throw off oil’s stink.
In his farewell earnings report, the chief executive ended his 16-year tenure by telling Wall Street that GE’s earnings are likely to be disappointing the rest of this year. The culprit: sputtering energy markets.
It was the latest setback for a chief executive who never could win over investors and came under pressure this year from activist shareholder Trian Fund Management.