Industrial conglomerate General Electric Company (GE - Free Report) is aiming to become a high-tech industrial company. It intends to focus on just three core segments — power, aviation and renewable energy — and gradually exit all other businesses.

Per its restructuring plans, the company will separate GE Healthcare and turn it into a stand-alone company while will also exit its oil and gas businesses. Beside these, GE Transportation will be sold to Wabtec Corporation and efforts are on track to shrink exposure in GE Capital business. In addition, the company structural costs by more than $2 billion in 2018, majority of which is likely to come from the beleaguered power segment that sells electrical generation equipment.

In the last four trailing quarters, GE has reported a positive average earnings surprise of 3.27%, beating estimates twice for as many misses. In the last quarter, the company’s earnings of 16 cents per share exceeded the Zacks Consensus Estimate by 45.45%.

General Electric Company Price, Consensus and EPS Surprise

Currently, GE has a Zacks Rank #4 (Sell), but that could definitely change following its second-quarter 2018 earnings report, which was just released. 

Earnings: GE adjusted earnings beat estimates. The Zacks Consensus Estimate called for EPS of 18 cents, and the company reported adjusted earnings per share came in at 19 cents per share.

Revenue: Quarterly revenues trumped estimates. GE posted consolidated revenues of $30,104 million, higher than the Zacks Consensus Estimate of $29,823 million.

Key Stats to Note: GE’s Oil & Gas, Aviation and Healthcare segments recorded improved year-over-year results while Power, Renewable Energy and Transportation declined. Adjusted earnings per share for 2018 are predicted to be within $1.00-$1.07 range.

Stock Price: Shares were up 0.9% in pre-market trading following the release at the time of write-up.