{"id":68855,"date":"2019-07-29T13:33:46","date_gmt":"2019-07-29T05:33:46","guid":{"rendered":"http:\/\/facfox.com\/news\/aerospace\/ge-releases-full-year-results-plans-for-industrialization-of-additive-manufacturing.3dm"},"modified":"2019-07-29T13:33:46","modified_gmt":"2019-07-29T05:33:46","slug":"ge-releases-full-year-results-plans-for-industrialization-of-additive-manufacturing","status":"publish","type":"post","link":"https:\/\/facfox.com\/news\/ge-releases-full-year-results-plans-for-industrialization-of-additive-manufacturing\/","title":{"rendered":"GE releases full year results, plans for industrialization of additive manufacturing"},"content":{"rendered":"<div id=\"dpsp-content-top\" class=\"dpsp-content-wrapper dpsp-shape-rectangular dpsp-size-medium dpsp-has-spacing dpsp-has-buttons-count dpsp-show-on-mobile dpsp-button-style-1\">\n<div class=\"dpsp-total-share-wrapper\"><span class=\"dpsp-total-share-count\">234<\/span><span>shares<\/span><\/div>\n<ul class=\"dpsp-networks-btns-wrapper dpsp-networks-btns-content dpsp-networks-btns-share dpsp-column-auto\">\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">157<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">69<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">8<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<\/ul>\n<\/div>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">General Electric Company<\/span><span style=\"font-weight: 400;\"> (NYSE:GE) has reported full year financial results for 2016. With $123.7 billion in full year revenue, the company shows a 5% year on year increase and expects 3D printing to make an important contribution to the future of the business.<\/span><\/p>\n<figure id=\"attachment_103929\" style=\"width: 978px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-103929\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-headline-figures.jpg\" alt=\"GE FY 2016 headline figures.\" width=\"978\" height=\"498\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-headline-figures.jpg 978w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-headline-figures-770x392.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-headline-figures-200x102.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-headline-figures-500x255.jpg 500w\" sizes=\"(max-width: 978px) 100vw, 978px\" \/><figcaption class=\"wp-caption-text\">GE FY 2016 headline figures.<\/figcaption><\/figure>\n<p><b>Largest 3D printing deal in history<\/b><\/p>\n<p>GE\u2019s $1.4 billion deal last year for Concept Laser and Arcam AB was the largest in 3D printing history to date. In recent weeks rumors that GE are preparing to add another 3D printing company to its portfolio have circulated. Some commentators have speculated that 3D Systems might be next in line. When contacted by  Industry a spokesperson for 3D Systems reiterated that it was company policy not to comment, \u201c<em>on market activity and speculation<\/em>.\u201d<\/p>\n<p><span style=\"font-weight: 400;\">While the existing acquisitions are yet to be fully integrated into GE, already the company is forecasting the impact of 3D printing on their bottom line. Specifically in setting out their cost program for 2017-2018 GE highlight the application of additive manufacturing. The company forecast an incremental 50 basis points saving as part of the integration of 3D printing into its business. GE CEO Jeff Immelt said, \u201c<\/span><i><span style=\"font-weight: 400;\">In total, we\u2019re working on list of close to $1.7 billion with a target of getting a $1 billion of cost out over two years<\/span><\/i><span style=\"font-weight: 400;\">.\u201d<\/span><\/p>\n<p><b>3D printing for the oil and gas markets<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The most visible use of 3D printing at GE is in the aviation division. However the technology will also have an impact on several other areas. Speaking about GE Capital <\/span><span style=\"font-weight: 400;\">CEO Jeff Immelt said, \u201c<\/span><i><span style=\"font-weight: 400;\">We closed $86 billion of asset sales in 2016 and the move to become an industrial finance company is very positive for GE<\/span><\/i><span style=\"font-weight: 400;\">.\u201d As we recently reported through its GE Capital division, <\/span><span style=\"font-weight: 400;\">loans for 3D printers will be available<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>3D printing may also be applied to the company\u2019s energy activities. The most recent revenues from the power, oil and gas markets were lower than expectations. The company attributed this to slow growth and a volatile environment, partly due to the uncertainty that accompanies an election year. While GE say there are still challenges in the oil sector the company are now more optimistic about the U.S. economy.<\/p>\n<figure id=\"attachment_103930\" style=\"width: 921px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-103930\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-Industrial-Deals.jpg\" alt=\"GE FY 2016 Industrial Deals.\" width=\"921\" height=\"741\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-Industrial-Deals.jpg 921w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-Industrial-Deals-770x620.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-Industrial-Deals-200x161.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-Industrial-Deals-500x402.jpg 500w\" sizes=\"(max-width: 921px) 100vw, 921px\" \/><figcaption class=\"wp-caption-text\">GE FY 2016 Industrial Deals.<\/figcaption><\/figure>\n<p>3D printing can be used to cut the lead time drastically when it comes to manufacturing turbine blades and other vital components for this industry. We have also seen how 3D printing can be used to repair components in this market. Speaking about one large deal in this segment CEO Jeff Immelt said, \u201cw<em>e booked some big global orders including a $1.4 billion order with the Iraq Ministry of Energy for gas turbines.<\/em>\u201d<\/p>\n<p><b>The advance of the 3D printed jet engine<\/b><\/p>\n<p><span style=\"font-weight: 400;\">For the final quarter of 2016 GE reports LEAP engine orders of $480 million, this equates to 255 units. At <\/span><span style=\"font-weight: 400;\">the core of the LEAP engine is the 3D printed fuel nozzle<\/span><span style=\"font-weight: 400;\">, this demonstrates one of the primary reasons why the company was keen to add a PBF company to its portfolio. The purchase of the manufacturers of DMLS means that GE has secured this element of the LEAP production process. Jeff Bornstein, SVP and CFO, said, \u201c<\/span><i><span style=\"font-weight: 400;\">Arcam and Concept Laser are great platform additions to our capability<\/span><\/i><span style=\"font-weight: 400;\">.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bornstein continued to expand on the performance of the Aviation division. Remarking that the business, \u201c<\/span><i><span style=\"font-weight: 400;\">had a very good year.<\/span><\/i><span style=\"font-weight: 400;\">\u201d During that time GE delivered its first LEAP engines and, \u201c<\/span><i><span style=\"font-weight: 400;\">currently 20 A320neos powered by LEAP are flying across six different customers<\/span><\/i><span style=\"font-weight: 400;\">.\u201d Bornstein added, \u201c<\/span><i><span style=\"font-weight: 400;\">We had expected to ship a total of about 100 engines in 2016, but in coordination with the airframers, we delivered 77 for the total year, meeting all our commercial commitments.<\/span><\/i><span style=\"font-weight: 400;\">\u201d<\/span><\/p>\n<p>Speaking about the ongoing production of engines Bornstein said,<\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">Orders in the quarter were $7.2 billion, up 5% with equipment orders higher by 2%. Commercial engine orders were down 4% on lower CF-6, CFM and GEnx orders, partially offset by strong GE90 and LEAP orders. $1.8 billion of new commercial engine orders included $478 million from LEAP, a $186 million in orders for CFM, $577 million orders for GEnx and $326 million in orders for GE90. Military equipment orders of $360 million were up 2%, driven by another large T700 order for 306 units.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Bornstein adds, \u201c<\/span><i><span style=\"font-weight: 400;\">our estimate is we\u2019ll ship something close to 500 million &#8212; 500 LEAP engines next year.<\/span><\/i><span style=\"font-weight: 400;\">\u201d<\/span><\/p>\n<p>Concluding a meeting with investors and analysts the GE CEO provided forecasts for 2017, \u201cw<em>e see EPS of a $1.60 to $1.70; operating cash flow of $16 billion to $20 billion; and cash to investors of $19 billion to $21 billion in buyback and dividends<\/em>.\u201d<\/p>\n<p><span style=\"font-weight: 400;\">Nominations are open for the 1st Annual <a href=\"\/service\/3d-printing\"> Industry Awards<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><em>Featured image shows testing of the GEnX series engine that contains 3D printed parts. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>234shares 157 69 8 The General Electric Company (NYSE:GE) has reported full year financial results for 2016. With $123.7 billion in full year revenue, the company shows a 5% year on year increase and expects 3D printing to make an important contribution to the future of the business. GE FY 2016 headline figures. Largest 3D [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":182734,"comment_status":"open","ping_status":"close","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"fifu_image_url":"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/01\/GE-FY-2016-headline-figures.jpg","fifu_image_alt":"","footnotes":""},"categories":[53],"tags":[169,170,173],"class_list":["post-68855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","tag-3dprint","tag-3dprinting","tag-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GE releases full year results, plans for industrialization of additive manufacturing - FacFox News<\/title>\n<meta name=\"description\" content=\"234shares157698The General Electric Company (NYSE:GE) has reported full year financial results for 2016. 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